FSSAI open for changes in Food Products Regulations
Indian nutraceuticals market may touch US dollars 10 billion by 2022 from the current level of US dollar 4 billion. The government and the industry are getting ready to adopt the proper mechanism for supporting the change. Hence, the government is open to changes in the upcoming food processing regulations, that will go through a proper process for finalization. The new set of regulations, covering nine major food groups, is slated to be operational on 1st January 2018.
The government feels that forward and backward linkages with traceability would be the key for evolving nutraceuticals sector. The food parks would provide utilities of common interest to the companies, while specific farms would constitute traceable sources. The 6000 crore rupees earmarked for Kisan sam pada Yojana would also help the nutraceutical sector.
The scientific community welcomed the provision of protecting 400 medicinal plants, particularly their ingredients. This effort was hailed as a unique one, in the world context. These plants are the major sources for nutraceuticals. CSIR shall make substantial investments in developing plant-based products.
The industry lauded the efforts made through the regulations. However, the present GST rates on most nutraceuticals and the fragmentation within the industry were flagged as issues need to be addressed.
The occasion saw the presence of Director – CSIR-Institute of Himalayan Bioresource Technology - Dr. Sanjay Kumar; Head- Healthcare Research, Dabur Research and Development Centre- Dr. JLN Shastry; Chairman –– Dr. BK Rao and Senior Director, ASSOCHAM - Dr. Om S Tyagi.