CHINA JO-JO DRUGSTORES, INC. Hai Wai Hai Tongxin Mansion Floor 6 Gong Shu District, Hangzhou City Zhejiang Province P. R. China, 310008 Telephone: +86-571-88219579

CHINA JO-JO DRUGSTORES, INC.

Hai Wai Hai Tongxin Mansion Floor 6

Gong Shu District, Hangzhou City

Telephone: +86-571-88219579

NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

TO BE HELD ON November 16, 2023

TO THE SHAREHOLDERS OF CHINA JO-JO DRUGSTORES, INC.:

The Annual General Meeting

of the shareholders for the fiscal year ended March 31, 2023 (the "Annual Meeting") of China Jo-Jo Drugstores, Inc.,

a Cayman Islands exempted company, (the "Company"), will be held on November 16, 2023 at 9:00 p.m. E.T. (November

17, 2023 at 10:00 a.m., Beijing time), at the Company's principal executive offices located at Hai Wai Hai Tongxin Mansion Floor

6, Gong Shu District, Hangzhou City, Zhejiang Province, P. R. China, 310008, for the following purposes:

These items of business are

more fully described in the proxy statement accompanying this Notice.

The Board of Directors has

fixed the close of business on October 18, 2023, as the record date for the determination of shareholders entitled to notice of

and to vote at the Annual Meeting. We know that many of our shareholders will be unable to attend the Annual Meeting. We are soliciting

proxies so that each shareholder has an opportunity to vote on all matters that are scheduled to come before the shareholders at the Annual

Meeting. Whether or not you plan to attend, please take the time now to read the proxy statement and vote via the Internet or, if you

prefer, submit by mail a paper copy of your proxy or voter instructions card, so that your shares are represented at the meeting. You

may also revoke your proxy or voter instructions before or at the Annual Meeting. Regardless of the number of our shares you own, your

presence in person or by proxy is important for quorum purposes and your vote is important for proper corporate actions.

Hangzhou City, People's Republic of China

IMPORTANT NOTICE REGARDING THE AVAILABILITY

OF PROXY MATERIALS FOR THE SHAREHOLDERS MEETING TO BE HELD ON NOVEMBER 16, 2023 - THE PROXY STATEMENT AND ANNUAL REPORT TO SHAREHOLDERS

ARE AVAILABLE AT www.iproxydirect.com/CJJD

WHETHER OR NOT YOU EXPECT TO ATTEND THE ANNUAL

MEETING, WE URGE YOU TO VOTE. YOU MAY VOTE BY TELEPHONE OR VIA THE INTERNET. IF YOU RECEIVED A PAPER COPY OF THE PROXY CARD BY MAIL, YOU

MAY ALSO MARK, SIGN, DATE AND RETURN THE PROXY CARD PROMPTLY IN THE ENCLOSED POSTAGE-PREPAID ENVELOPE.

CHINA JO-JO DRUGSTORES, INC.

Hai Wai Hai Tongxin Mansion Floor 6

Gong Shu District, Hangzhou City

Telephone: +86-571-88219579

ANNUAL GENERAL MEETING OF SHAREHOLDERS

The enclosed proxy is solicited

on behalf of the Board of Directors (the "Board") of China Jo-Jo Drugstores, Inc., a Cayman Islands exempted company

(the "Company"), for use at the Annual General Meeting of shareholders to be held on November 16, 2023 at 9:00 p.m.

E.T. (November 17, 2023 at 10:00 a.m., Beijing time) (the "Annual Meeting"), or at any adjournment or postponement

of the Annual Meeting, for the purposes set forth in this proxy statement and in the accompanying Notice of Annual Meeting of Shareholders.

The Annual Meeting will be held at the Company's principal executive offices located at Hai Wai Hai Tongxin Mansion Floor 6, Gong

Shu District, Hangzhou City, Zhejiang Province, P. R. China, 310008.

These proxy materials were

made available to you by the Board on the Internet on or about October 17, 2023, at www.iproxydirect.com/CJJD, which is

on the proxy card mailed to shareholders of record and beneficial holders. Our shareholders are invited to attend the Annual Meeting and

are requested to vote on the proposals described in this proxy statement. These proxy materials include: our proxy statement for (and

notice of) the Annual Meeting; and our annual report on Form 20-F for the year ended March 31, 2023 (the "Annual Report"),

which includes our annual audited financial statements for the year ended March 31, 2023. These proxy materials also include a proxy card

or a voting information card for the Annual Meeting, for submitting your vote in writing to us or your broker, as the case may be.

Who is entitled to vote at the Annual Meeting?

Only shareholders of record

at the close of business on October 18, 2023 (the "Record Date") are entitled to receive notice of and to vote

at the Annual Meeting. If you were a shareholder of record on the Record Date, you will be entitled to vote all of the shares that you

held on the Record Date at the Annual Meeting, or any postponement or adjournment of the Annual Meeting.

Who can attend the Annual Meeting?

Any person who was a shareholder

of the Company on the Record Date may attend the meeting. If you own shares in street name, you should ask your broker or bank for a legal

proxy to bring with you to the Annual Meeting. If you do not receive the legal proxy in time, bring your most recent brokerage statement

so that we can verify your ownership of our stock and admit you to the Annual Meeting. You will not, however, be able to vote your shares

at the Annual Meeting without a legal proxy.

What am I voting on?

The Board, on behalf of the

Company, is seeking your affirmative vote for the following four items:

Will any other matters be voted on?

We do not know of any other

matters that will be brought before the shareholders for a vote at the Annual Meeting. If any other matter is properly brought before

the meeting, your signed proxy card would authorize Mr. Lei Liu to vote on such matters in his discretion.

Shareholders of Record

If your shares are registered

directly in your name with the Company's transfer agent, American Stock Transfer & Trust Company, LLC, then you are a shareholder

If you are a shareholder of record, there are five

If your shares are held, not

in your name, but rather in an account at a brokerage firm, bank, dealer or other similar organization, then you are the beneficial owner

of shares held in "street name" and these proxy materials are being forwarded to you by that organization. The organization

holding your account is considered to be the shareholder of record for purposes of voting at the Annual Meeting. As a beneficial owner,

you have the right to direct your broker or other agent regarding how to vote the shares in your account. You are also invited to attend

the Annual Meeting. However, since you are not the shareholder of record, you may not vote your shares in person at the Annual Meeting

unless you request and obtain a valid proxy from your broker or agent.

Regardless of how your shares

are registered, if you complete and properly sign the proxy card and return it to the address indicated, it will be voted as you direct.

How many votes do I have?

On each matter to be voted

upon, you will have one vote for each ordinary share of the Company that you owned on the Record Date.

How many votes can be cast by all shareholders?

The Company had 33,657,210

outstanding ordinary shares on the Record Date, and each of these shares is entitled to one vote.

How many votes must be present to hold the meeting?

The holders of not less than

one-third of the Company's ordinary shares outstanding on the Record Date must be present at the Annual Meeting in person or by

proxy in order to fulfill the quorum requirement necessary to hold the Annual Meeting. As of the Record Date, there were 33,657,210 ordinary

shares outstanding. This means at least 11,219,070 ordinary shares must be present in person or by proxy.

If you vote, your shares will

be part of the quorum. Abstentions and broker non-votes will also be counted in determining the quorum. A broker non-vote occurs when

a bank or broker holding shares in street name submits a proxy that states that the broker does not vote for some or all of the proposals

because the broker has not received instructions from the beneficial owners on how to vote on the proposals and does not have discretionary

authority to vote in the absence of instructions.

We urge you to vote by proxy

even if you plan to attend the Annual Meeting so that we will know as soon as possible that a quorum has been achieved.