Summary:

The global nutraceutical industry, valued at over $400 billion, spans food, pharmaceuticals, and biotechnology. India plays a significant role, drawing on its rich heritage in traditional knowledge, particularly Ayurveda, and a supportive ecosystem that encourages sector growth. However, India’s global share remains under 2%, due to the absence of an industry classification within Indian ministries, limiting targeted support for sector development.

To support India’s nutraceutical growth, the Council of Scientific and Industrial Research (CSIR) established the Nutraceutical Sector Task Force (TF) in November 2021. Chaired by India’s Principal Scientific Adviser, the TF includes officials from key departments and industry experts. Key initiatives include implementing Harmonized System of Nomenclature (HSN) codes, a Production-Linked Incentive (PLI) program, and incubation hubs like NIFTEM-Kundli and Centurion University. The Kerala government also established the Nutraceutical Centre of Excellence in 2024.

Source: IBEF 

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