Red chilis are very rich in vitamin C and provitamin A. Yellow and especially green chilis (which are essentially unripe fruit) contain a considerably lower amount of both substances. In addition, peppers are a good source of most B vitamins, and vitamin B6 in particular. They are very high in potassium and high in magnesium and iron. Their high vitamin C content can also substantially increase the uptake of non-heme iron from other ingredients in a meal, such as beans and grains. Source: Wikipedia

All chili peppers contain phytochemicals known collectively as capsaicinoids. These are a proven treatment for skin pain. They are the primary active ingredient in over-the-counter topical ointments and may alleviate a wide range of joint and muscle pain, including pain from arthritis.[1] Current research shows positive results in a wide range of benefits from internal ingestion of capsaicinoids. They have been shown, in laboratory settings, to shrink cancerous tumors with minimal side-effects. [2] They are known to control or even eliminate certain parasites in the gastro-intestinal tract; for this reason, they are a useful dietary component in tropical regions.[3] Chili peppers might have cardiovascular benefits, although proven benefits appear to be limited to increased myocardial perfusion in men.[4] Some sources also claim weight loss properties (by inducing thermogenesis).[5] Hot peppers can provide symptomatic relief from rhinitis and possibly bronchitis by thinning and clearing mucus from stuffed noses or congested lungs.[6] One very promising avenue of research lies in the prevention and control of hyperglycemia and diabetes; according to a study by the American Journal of Clinical Nutrition, the amount of insulin required to lower blood sugar after a meal is reduced if the meal contains chili pepper.[6] Canadian researchers believe that chilies might play a vital role in treating diabetes.[7] Chili pepper as a component in weight loss diets has been the subject of a book titled "The Chili Pepper Diet"[8]. Sources:

1. Could chilli peppers relieve pain?, Chili pepper link to arthritis pain - BBC
2. Non-prescription Compound Found In Chillies Destroys Cancer Tumours SafelySpicy foods 'could protect against cancer' 9 January 2007, Daily Mail
3. Discover magazine
4. www.nature.com
5. Extract may stop fat cell growth By Stephen Daniells 3/1/2007
6. World's Healthiest Foods
7. Chili extract makes diabetes go awayDecember 15, 2006 The Vancouver Sun
8. The Chili Pepper Diet: The Natural Way to Control Cravings, Boost Metabolism and Lose Weight by Heidi Allison, 2002, ISBN-10: 1558749268

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