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Nurturing wellness sector theme of FICCI’s India Wellness Conclave ’19
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Monday, 24 June, 2019, 15 : 00 PM [IST]
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Our Bureau, New Delhi
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Nurturing the Wellness Industry for a Healthier and Happier India will be the theme of the India Wellness Conclave, the one-day conference organised by FICCI (the Federation of Indian Chambers of Commerce and Industry) and slated to take place at the Federation’s headquarters in New Delhi between 9am and 6pm on July 24, 2019.
The conclave will provide a neutral platform to stakeholders from the wellness and beauty sectors for deliberating on various regulatory, policy and business aspects of nurturing the wellness industry in India.
The sessions on Nurturing the Wellness Industry for a Healthier and Happier India, Wellness Economy - Impact of Transformation of the Informal into Formal, and Business of Wellness: The Growth Imperative will be held during the conclave. The participation of over 150 chief executive officers from the wellness industry from all over India is expected.
The FICCI-E&Y report on the wellness industry, which will also be released during the conclave, will provide in-depth information on the wellness and beauty ecosystem in India.
Background
The wellness industry in India is steadily clocking double-digit growth for the last few years, and creating new spaces for organised players in this sector. This growth has also marked the entry of various new players, Indian as well as foreign, due to the consistent upward growth trajectory on account of the changing spending habits and the lifestyles of Indian consumers.
Given the huge growth opportunities in the wellness sector, companies are exploring investment opportunities not only in the services side but also in the manufacturing under the Make in India initiative, which intends to facilitate investment in the areas of traditional medicine, fitness equipment manufacturing, beauty products, etc.
However, there are many challenges of doing business in the wellness sector, including the presence of largely unorganised players, the inconsistent quality of services, the lack of skilled manpower, the lack of sector promotion, taxation and various other regulations, which needs to be addressed to nurture the wellness ecosystem in India.
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