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India emerges as global leader in nutraceuticals
Thursday, 13 June, 2024, 08 : 00 AM [IST]
Our Bureau, Mumbai
India is rapidly becoming the epicentre of the global nutraceutical market. Transitioning from a latent player a decade ago to a leading market for nutraceutical ingredients and finished products, India is now attracting significant attention from innovators and investors worldwide. This transformation was prominently showcased at the Global Nutrify Today C Suite Sumflex 2024, where over 360 decision-makers from around the globe gathered to explore and discuss the burgeoning opportunities within the Indian market.

The summit commenced with a compelling keynote by Daniel Hopkins, managing partner of Kinos Capital USA, titled, ‘All Roads Lead to India – Why US Private Equity Wants a Taste of India’. This presentation set the stage for global nutraceutical leaders, followed by an international startup pitch session to investors. Some of the leaders were Yoni Glickman - managing partner- PeackBridge Ventures, Eric Caston- CEO- Fuji Chemicals, Milind Thatte- managing director- P&G-Health, Amal Kelshikar- executive director Torrent Pharmaceuticals, Sanjaya Mariwala- executive director- Omniactive Health Technologies, Dr Jean Porracchia- chief R&D officer, Dr Ananad Swaroop- president – Cepham INC; USA, Russel Michelson- global regulatory head- Reckit Benkiser, Len Monheit- CEO Trust transparency Centre, Raja Ram Sankaran; managing partner- Heidrick & Struggles.

A highlight of the event was the emphasis on India's mission $100 billion, an ambitious initiative aimed at exponentially growing the country's nutraceutical sector. This mission underscores India's commitment to becoming a global powerhouse in the industry. The Global Sumflex featured four distinct tracks, including presentations, panel discussions, business lounges for deal-making, and a Korea Experience Centre. This two-day event mirrored the World Economic Forum on a micro scale, tailored specifically for the nutraceutical industry. It brought together investors, industry CEOs, Government officials from various countries, and distributors to deliberate on global nutraceutical standardisation and the promotion of responsible nutraceuticals.

Major participation came from Japan, South Korea, US, and Europe. Notably, this was the first global-scale nutraceutical summit where content was streamed live worldwide on OTT platforms and YouTube. The summit also marked the launch of the nutraceutical industry’s advanced AI tool, NutrifyGenie 2.0, available on WhatsApp and desktop. This tool aids companies in ideation and commercialisation while ensuring regulatory compliance across 11 countries.

Amit Srivastav, founder of NutrifyToday, said, "NutrifyToday summits of the past have evolved into the NutrifyToday Sumflex, marking the beginning of a flexible summit that will have multiple touchpoints throughout the year. Powered by data and backed by AI, it ensures quantifiable outcomes, living up to the motto of the Sumflex – Networthing the Networks."
 
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