Delegates discuss India’s potential in nutraceuticals at the event in Mumbai
FICCI-HADSA 6th Annual Nutraceuticals Conference recently took place in Mumbai. Subhash Desai, Industry Minister, Maharashtra inaugurated the conference which was jointly organised by Federation of Indian Chambers of Commerce and Industry (FICCI) and Health Foods And Dietary Supplements Association (HADSA).
Manoj Patodia, EC Member, FICCI-MSC and Vice Chairman and MD, Prime Urban Development, delivered the welcome address and Dr Vaibhav Kulkarni, Co-chair, FICCI-MSC Task Force on Nutraceutical and Treasurer, HADSA, proposed a vote of thanks.
A knowledge paper on ‘Make in India – Nutraceutical Opportunities’, prepared by FICCI and its knowledge partner SynCore, was released at the inaugural function. A white paper on ‘Balancing Malnutrition Factors’ was also released on the occasion.
Desai, spoke about the impact that the country’s ‘Make in India’ campaign is having on industries and investors all over the world. “The world is really interested to set up units in India. It is our duty to see that this does not remain a dream but transforms into reality,” he said.
He added, “Indian pharmaceuticals have created impact globally. We export generic medicines to different parts of the world. When the world is getting treated with Indian medicines, why cannot that happen with nutraceuticals?” He was of the opinion that the nutraceutical industry has great opportunities in Maharashtra, since there are pharma industries everywhere. Desai even talked about the necessity of the nutraceutical clusters in the state.
Roopwant Singh, Managing Director, iNDEXTb (Gujarat), said, “Globally nutraceutical business is going to be worth $241 billion in the coming five years. As the number of senior citizens rises, the demand is likely to go up.” He disclosed that India corners just around two per cent of the global trade; hence there is huge potential in this sector in the country.
Ric Hobby, President, HADSA, described India as a “strong and vibrant country.” He observed that today there is no part of the world that does not look at India. “What they see is a land of enormous opportunities and enormous challenges.”
The conference included plenary sessions on various themes pertaining to the nutraceuticals industry.
EP News Bureau – Mumbai