As India envisions a “Viksit Bharat” (Developed India) by 2047, the significance of a “Swasth Bharat” (Healthy India) cannot be understated. Sanjaya Mariwala, Executive Chairman and Managing Director of OmniActive Health Technologies and President of the Association of Herbal and Nutraceutical Manufacturers of India, emphasises the need for a robust healthcare framework that not only addresses curative needs but also prioritises preventive healthcare. With current health expenditure at just 3.37 per cent of GDP, well below the targeted 5 per cent, India faces challenges ranging from infrastructural gaps and affordability to innovation in healthcare delivery. In this context, the nutraceutical sector holds transformative potential to drive better health outcomes and make preventive healthcare a sustainable reality.
He said, “Beyond curative solutions, preventive healthcare needs to be at the fore if it is to be sustainable in the long run. The nutraceutical sector is capable of playing an extremely important role in not only bringing down healthcare costs but also impacting overall health outcomes.”
However, the common man cannot reap the benefits of nutraceuticals when GST is at 18 per cent. Reducing it to 5-10 per cent will align it with pharmaceuticals and make such preventive solutions more accessible and affordable for consumers.
Additionally, incentivising corporate investment in clinical trials and research will not only encourage innovation but also ensure that products are safe and effective for consumers. Strengthening the credibility and safety of these products is crucial for building public trust.
If the upcoming Union Budget addresses these priorities, it will reinforce India’s healthcare system, improve consumer safety, and position the country as a global leader in preventive health.”