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$100 Billion Indian Nutraceutical Industry Journey Actuated
With a goal of shaping India into a nutraceutical industrial hub, Nutrify Today C-Suite Summit-2022 gave the much-needed impetus to bring together the industry to touch the $100 billion industry, held on 17 June 2022. More than 15 countries participated in the coveted summit, with a total 20 deals worth $22 million being struck.
These seed deals are expected to evolve into $2 billion by the year 2025. Experts in the industry believe that these deals have the potential to create 40,000 new job opportunities in the emerging industry. These investments, according to the industry experts, in the long run would kick-start India’s growth in the nutraceutical industry and help realize its dream of becoming the number two player in the globe, by reaching the $100 Billion mile stone.
Amit Srivatsava, Chief Catalyst, Nutrify Today commenting on nutraceutical’s journey towards a 100-billion-dollar mark, said “Five decades ago it was pharma, three decades ago it was IT, now is the time for the third hi-tech revolution -Nutraceuticals.”
Elaborating on one of the main challenges, Srivatsava said, “As the industry is growing in India, there was an identified deficit of 1,60,000, in the form of Human Resources. To address this deficit, the Nutrify Today Academy is targeting to train 15,000 professionals and university students for the years 2022-2023.”
Urging the Indian academic institutions to back the industry in this endeavor, the Centurion University, IIT Jammu and IRMA, have come forward to deal with this specialized human resource deficit. With C-Suite summit, Nutrify Today has sought to create a harmonized regulatory system, to enable ease of business across the globe. C-Suite summit has served as a platform for interaction between international regulators that would pave lucrative opportunities in the future.
The summit saw members of UAE Royal family and a special delegation from Australia present during the meet. Over 20 deals with an estimated value of $22 million were signed during the event. South Korean giant EDGC announced $401 million in Nutrigenomics innovations in the next 5 years. Euro Alliance Switzerland announced an investment of $7 million. Cepham incorporated USA announced $5 million investment in Ayush R&D modernization and commercialization.