Nutraceuticals get renewed focus in India’s growth story
Amit Srivastava, Chief Catalyst, Nutrify Today, informed that several crucial steps such as a dedicated panel for nutra, PLI scheme for manufacturing of nutraceuticals etc. are underway to help India leverage its true potential in this field
Sapna Poti, Director – Strategic Alliances, Office of Principal Scientific Adviser to the Government of India launched the printed version of a recent survey report titled, ‘Bridges to $100 billion Nutraceutical India’, conducted by Nutrify Today. The rationale behind this survey was to identify the gaps to be filled in order for India to realise its nutra potential as a $100 billion industry by 2030. The survey covered the Indian nutra industry and community, including senior and middle management professionals and owners of nutra firms and businesses. Other stakeholders, such as academia and investors, were also included in the group.
Amit Srivastava, Chief Catalyst, Nutrifytoday.com, who also attended the meeting of the Nutraceutical Task Force meeting, informed that the following steps are being taken to ensure that India leverages its true potential in the field of nutraceuticals:
- Formation of a nutraceutical panel in Ministry of Commerce. A panel body would now be created to ensure a nutraceutical industry-specific agenda.
- PLI scheme for nutraceuticals is now at an advanced stage with MoFPI, as per a directive from the Nutraceutical Task force.
- There are plans to build a dedicated nutraceutical incubation hub is being built. More details will be shared after the directives are issued.
- Measures are being put into place to create industry-oriented courses for nutraceuticals.