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India poised for a large share of $2.41 b nutra market, highlights meet
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Thursday, 07 May, 2015, 08 : 00 AM [IST]
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Harcha Bhaskar, Mumbai
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fiogf49gjkf0d The sixth edition of FICCI-HADSA Annual Nutraceuticals Conference , which was organised here on Wednesday, highlighted how global nutraceuticals industry was likely to reach $2.41 billion soon and countries like India, China, Mexico and Brazil were poised to garner a huge share of this growth in the coming years.
Interestingly, in tune with the current scenario in the country, the conference had 'Make in India' as its theme and called upon prospective entrepreneurs from India and abroad to manufacture in the country.
The conference started with welcome address by Manoj Patodia, EC member, FICCI. In his address, Patodia mentioned land, environment, administration and regulations as the challenges the industry was facing.
Dr R B Smarta, secretary, HADSA, unveiled a paper on world malnutrition prepared by HADSA and stated, "People in the world are ‘disevolving’ rather than evolving because of growth in lifestyle diseases also published in the paper by Harvard University."
Commenting on the nutraceuticals industry in connection with the theme of the conference, he said it should be Made in India along with Make in India for the nutraceuticals sector.
Ric Hobby, president, IADSA, in his special address, shared and foresaw that India was a land of opportunity though challenges were parallel to it. “Challenges like no regulation clarity, no development in technical standard. But there is comparatively more consumer demand here so we should be optimist and move ahead. Also there are organisations like HADSA and IADSA to help people here,” he commented.
Hobby, who is also vice-president, worldwide regulatory, government and industry affairs, announced to double the manufacturing capacity in India proportional to rising consumer demand for herbal life products.
Subhash Desai, minister of industries, Government of Maharashtra, was special guest of honour for the event. Appealing and calling entrepreneurs in Maharashtra, Desai said, "Earlier to set up any industry in India, there was procedure of acquiring 75 permits or NOCs to start a company. But due to revision in regulations, people can acquire 25 certificates.” Though he admitted that acquiring 25 licences was still tedious and assured a reduction in the future.
He added, "Maharashtra is a self-sufficient state in regards to land, water and electricity, which are basic necessities of any company. Sixty per cent of population belongs to age group 25 years and there are more than 1,000 engineering and science-based colleges which can give educated manpower to the industry. Since there are several MIDC zones in Maharashtra, entrepreneurs can get benefitted by several subsidies. If the response is good, Maharashtra can come up with a cluster solely for nutraceuticals industry. Though people seem to be interested more in Mumbai, there are other places like Pune, Kokan, Nashik to explore."
While addressing the gathering, Roopwant Singh, managing director, iNDEXTb, highlighted why the state of Gujarat should be considered a nutraceuticals hub. He said, "Gujarat is already a major hub for pharma and biotech industries. There are already several clusters for these sectors in addition to SEZ, so people were availing the opportunity and using the already available resources.”
He added, “Favourable climate, easy availability of raw material like dairy ingredients, proteins and vitamins are an added advantage. Customised incentive-based packages would also be made available by government. Soon Gujarat would be having a special policy for healthcare and agro processing sectors."
Later, in the first session titled Building India as Nutraceutical Manufacturing Hub: Opportunities and Challenges, C M Reddy, chief scientific officer, Innovertus Nutrition Tech Ind Pvt. Ltd, said, “India is a land of opportunity for nutraceuticals as the country is land of Ayurceuticals, there is awareness of health and nutrition and growth in disposable income.”
However, he pointed out, “There are some challenges - ingredients approved by ROW but not India, lengthy product approval, and no innovative dosages. There is a need for innovative nutraceutical products like gummies, chocolates and bars. A single product should give complete solution. The products should not be in tablet and capsules format, which gives a feeling of medicines.”
According to him, coherent sections for future R&D are Ayurceuticals, sportsceuticals, pediaceuticals, geriaceuticals, nutricosmetics and nutra pharmaceuticals.
Javin Bhinde, executive director, SynCore Group, who was also a knowledge partner, stated, "India being a developing country has lot of scope for improvement. There is a need for single-window clearance and clear regulations. The qualified pharmaceuticals and medical experts can be used in this industry.”
Currently, India contributes about two per cent to nutraceuticals industry and the country seems to have a good future in this regard going by the rise in population of senior citizens and awareness on health.
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