Mumbai, Jun 19 (FN Agency) India can realise its dream of becoming the number two player in the globe in the nutraceutical industry and reach the USD 100-billion dollar milestone, averred experts. This observation was made by experts at the summit organised recently by Nutrify Today C-Suite with a goal of shaping India into a nutraceutical industrial hub, a release stated on Saturday. More than 15 countries participated in the coveted Nutrify Today C-Suite Summit-2022, where total 20 deals worth USD 22 million were struck. These seed deals are expected to evolve into two-billion-USD by the year 2025.
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 USD 22 million were signed during the event. South Korean giant EDGC announced USD 401 million in Nutrigenomics innovations in next five years. Euro Alliance, Switzerland announced an investment of USD seven million, Cepham Incorporated, USA announced USD five million investment in Ayush R&D modernisation and commercialisation. Experts in the industry believe that these deals have the potential to create 40,000 new job opportunities in the emerging industry. Commenting on nutraceutical’s journey towards a USD 100-billion-dollar mark, Amit Srivatsava, chief catalyst at Nutrify Today, 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, he 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 2022-23.” He urged the Indian academic institutions to back the industry in this endeavour and added that the Centurion University, IIT Jammu and IRMA, have come forward to deal with this specialised human resource deficit.