Nutraceuticals: From Alternative to Mainstream – ETHealthworld.com

By- Mr. Sanjaya Mariwala

India finds its root of medicinal science in Ayurveda, Charak Samhita, some of the Vedas and Puranas. Its history is far older than the curative medical science. Yet, it is considered to be an alternative medicine and does not receive enough attention, both from consumers as well as the regulators and policymakers. The Covid-19 world has proven the significance of preventive measures, thus the conversations of natural nutrients has taken the centre stage across the globe. India, having an inherent advantage in the space, is poised to benefit. Whether it is for improving overall healthcare quotient or for the business opportunities, it is important for India to ensure that the alternative medicine becomes mainstream.

Research suggests that, globally, the demand for nutra products has increased significantly. The USA consumption is driven by growing health awareness, European demand is influenced by innovation and research and Asian preference is due to the trust in conventional medicines. So how can India efficiently capture growing acceptance of these products and establish prowess?

In India we need a separate regulatory body, independent HSN code structure, specific financial packages and taxbreaks for manufacturing, research and clinical studies are some of the immediate steps required from the regulators to give the industry the required boost and allow it to contribute substantially for the public healthcare.

Develop a model of integrated, end-to-end supply chain capability If we just go by the research numbers quoted above, to meet the demand, the supply chains will have to be strengthened. And for that, entrepreneurs will have to take the drivers seat. Existing players will have to expand via backward or forward integration, outsourcing of manufacturing will be another trend to watch out for, and increasing the raw material output by expanding the crop growing region as well as improving the per acre output will be critical.

Encourage research and grants After all these, lets go back to where we started from. If we want to be Vocal for local and "atmanirbhar", we will have to believe and promote our own heritage. Digging into Ayurveda and understanding the preventive remedies for various health conditions, investing in R&D to grow high-quality natural resources within India, registering more and more patents in the name of Indians, importing species from all over the world and grow them in India, investing in talent and education encouraging them to stay put in home country these should be part of our broader agenda for both the govt and the entrepreneurs.

As per the United Nations (UN), malnutrition is the topmost issue the world is dealing with for the last 5 years along with climatic changes. And if it is so, isnt it a high time we reposition the Nutraceutical industry as mainstream and not be merely an alternative?

The author is the Executive Chairman and Managing Director at OmniActive Health Technologies.

(DISCLAIMER: The views expressed are solely of the author and ETHealthworld.com does not necessarily subscribe to it. ETHealthworld.com shall not be responsible for any damage caused to any person/organisation directly or indirectly.)

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Nutraceuticals: From Alternative to Mainstream - ETHealthworld.com