What is the current size of the nutraceutical industry in India?
What factors are driving the growth? Though nutraceuitical industry is currently very small and at nascent stage, I will put it as around Rs 500 crore. The rising consumer awareness for healthy lifestyle, nutritional diet, increasing urbanisation etc are driving the demand for dietary supplements. What are the major issues in front of the industry? What steps are taken by the association? Absense of proper regulation was the major issue in front of the industry till last year. India did not have any regulations for defining what are dietary supplements or functional foods. The entire industry and also the authorities like the state FDA were clueless about the regulatory requirements, which had often created problems for the industry. However, with the new law we will get an right idea to conduct our operations. During 2002-2004, our association was very active in conducting seminars and lectures between the industry and the representatives of ministry of health, ministry of food proces
