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Indian nutraceutical industry could emerge as global growth engine
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Thursday, 16 July, 2026, 12 : 00 PM [IST]
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Shardul Nautiyal, Mumbai
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There is a need to explore opportunities for strengthening India's nutraceutical sector under policy initiatives like Production Linked Incentive (PLI) schemes, according to Dr. Dhananjay Bakhle, CEO of MedRenova Pvt. Ltd., who recently addressed an industry consultation convened by the Ministry of Food Processing Industries (MoFPI) at Vigyan Bhavan, New Delhi.
The meeting brought together industry leaders to review the outcomes of existing PLI schemes in drugs and medical devices.
“India's nutraceutical industry could emerge as a major global growth engine if scientific innovation, clinical research, and value-added product development are placed at the centre of the country's growth strategy,” Dr. Bakhle emphasized.
Presenting an overview of the sector, Dr. Bakhle noted that Indian nutraceutical industry has grown to an estimated value of over US$ 15 billion, with exports of approximately US$ 1.5 billion annually. However, the country continues to import nearly US$ 2.7 billion worth of nutraceutical ingredients and botanical extracts, making it a net importer despite its vast natural resource base and manufacturing capabilities.
He highlighted that India possesses unique strengths in biodiversity, botanicals, food processing, and pharmaceutical sciences, which can be leveraged to create globally competitive, science-backed nutraceutical brands. Rather than focusing solely on manufacturing, he advocated an innovation-driven approach that integrates product discovery, clinical validation, intellectual property creation, and global brand development.
During the consultation, Dr. Bakhle outlined emerging opportunities for import substitution, value addition, and export expansion through research-led product innovation. He emphasized that harnessing India's rich botanical heritage, supported by modern nutritional science and the country's established pharmaceutical ecosystem, could significantly enhance global competitiveness.
According to Dr. Bakhle, with an enabling policy environment that rewards innovation alongside production, India's nutraceutical exports have the potential to grow to US$30 billion, positioning the country not merely as a supplier of ingredients but as a creator of globally trusted nutraceutical brands.
"India should aspire to export innovation, not just ingredients. The future lies in creating globally trusted Bharat Brands built on science, clinical evidence, and intellectual property," concluded Dr. Bakhle.
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