National Food and Pharma Summit, 28th August, 2017
The Elets Food & Pharma Summit, Ahmedabad seeks to bring together the two most promising sectors of the Indian economy on a single platform to speak in one voice over the ways to accelerate growth by highlighting emerging opportunities, innovations and fresh strategies. This pioneering Summit also brings a unique opportunity for key stakeholders of the two industries to build new synergies through collaboration with key decision makers, both in the government and corporate world.
Food Industry Overview
The Food Safety and Standards Authority of India (FSSAI) has operationalised much awaited regulations covering food industry, including health supplements, nutraceuticals, food for special dietary use and special medical purpose, functional foods and novel foods to be. As per the regulation, a period of a year has been provided to Food Business Operators to comply with the provisions of the regulation, the enforcement shall commence from January 2018.
The Food and Drugs Control Administration (FDCA), Government of Gujarat, ensures the implementation of FSSA Act in Gujarat apart from other functions.
Increasing health consciousness and improved incomes and standards of living has boosted the growth of the food markets in India, making it one of the fastest growing segments. The Indian food industry is expected to grow at 20 per cent to USD 6.1 billion by 2019-2020 due to rising awareness about health and fitness and changing lifestyle.
India’s food processing industry is a sunrise sector that has gained prominence in recent years. With a decent availability of raw materials and changing lifestyles with a relaxation in policies has provided sufficient platform for the industry’s growth. This sector is amongst the few that provides the connection link between agriculture and industrial segments of our economy. Strengthening this link is of critical importance as it means to improve the greater value of the current agricultural produce; ensuring remunerative prices to our farmers and at the same time creating favorable demands for Indian agricultural products in the world market.
The food industry is one of the most crucial and significant part of our Indian economy, with food constituting almost 30% of today’s consumers basket. India is not just a big time producer and consumer of food, but also a vast and growing consumer base with a strong production, the food processing sector presents large and exciting business opportunity for both domestic and international players
Food Industry Market Size
The Food Industry in India is poised for huge growth, increasing its contribution to world food trade every year. The sector has emerged as a high-growth and high-profit sector due to its immense potential for value addition, particularly within the food processing industry. The industry, which is currently valued at US$ 39.71 billion, is expected to grow at a Compounded Annual Growth Rate (CAGR) of 11% to US$ 65.4 billion by 2018.
Accounting for about 32% of the country’s total food market, the Government of India has been instrumental in the growth and development of the food processing industry. The government through the Ministry of Food Processing Industries (MoFPI) is making all efforts to encourage investments in the business. It has approved proposals for joint ventures (JV), foreign collaborations, industrial licenses, and 100% export oriented units (EoUs).
The economy of Gujarat has significant agricultural as well as industrial production within India. Major Agricultural produce of the state include groundnuts, dates, sugar cane, milk and milk products.
Food Industry Key Themes
- Food Industry: Best Practices, Technologies, Innovations and Smooth transition to the new regulations
- The Opportunity in the Digitalisation Drive on Hospitality and Retail Trade
- Key Market and Consumer Trends Influencing the Food Services and Food Retail Industry
- Growth Strategy for Food Services
- Catalyzing the Roadmap Ahead for One Billion Plus Consumers
- The First Peek: Product Showcase
Pharmaceuticals Industry Overview
The Pharmaceuticals Industry in India is the largest provider of generic drugs globally with the Indian generics accounting for 20% of global exports in terms of volume. The country also has a large pool of scientists and engineers who have the potential to steer the industry ahead to an even higher level.
The Union Cabinet has given its nod for the amendment of the existing FDI policy in the pharmaceutical sector in order to allow FDI up to 100% under the automatic route for manufacturing of medical devices subject to certain conditions.
Turnover of Gujarat Pharmaceutical industry was worth USD$ 6.7 Billion in 2015-16; while exports was worth USD% 3.06 Billion. The sector in Gujarat provides employment to around 85,000 people. More than 255 WHO-GMP compliant manufacturing facilities in India are from Gujarat. Gujarat accounts for about 40% of pharmaceutical production. Total 3507 manufacturing units engaged in manufacturing of Allopathic, Ayurvedic, Homeopethic drugs & Cosmetics.
The global pharmaceutical market size is estimated to reach USD 1.4 trillion and the Indian pharmaceutical market size is estimated as USD 55 billion by the year 2020. The Indian pharmaceutical sector is expected to grow with faster compound annual growth rate (CAGR) compared to global growth rate during the period 2015-2020. The world market will be dominated by countries like USA, EU and Japan and the contribution of Phrmerging countries is expected to be more in coming years. The future of the world pharmaceutical sector will be dominated by medicines for non communicable diseases and original branded medicines. The Indian pharmaceutical sector evolved in different phases from pre independence era to post Trade-Related Aspects of Intellectual Property Rights (TRIPS).
Presently, Indian pharmaceutical sector is dominated by the generics drugs and more drugs are sold in anti-infective category. The Indian pharmaceutical industry is having opportunities in the domestic market with growing demand for quality health care. More opportunities are seen in the area of Contract Research and Manufacturing Services
(CRAMS) by Mergers and Acquisitions (M&A) and Biogenic market. The government of India has taken measures to boost pharmaceutical sector, even though, the pharmaceutical sector is facing challenges in patent rights and methods used for fixing ceiling price for drugs. More challenges are expected due to immature clinical trial regulations and ethical aspects.
Pharmaceuticals Industry Market Size
The Pharmaceuticals Industry in India is the largest provider of generic drugs globally with the Indian generics accounting for 20% of global exports in terms of volume. India enjoys an important position in the global pharmaceuticals sector. The country also has a large pool of scientists and engineers who have the potential to steer the industry ahead to an even higher level.
Presently, over 80 per cent of the anti-retroviral drugs used globally to combat AIDS (Acquired Immuno Deficiency Syndrome) are supplied by Indian pharmaceutical firms. The UN-backed Medicines Patent Pool has signed six sub-licences with Aurobindo, Cipla, Desano, Emcure, Hetero Labs and Laurus Labs, allowing them to make generic anti-AIDS medicine TenofovirAlafenamide (TAF) for 112 developing countries.
The Union Cabinet has given its nod for the amendment of the existing Foreign Direct Investment (FDI) policy in the pharmaceutical sector in order to allow FDI up to 100 per cent under the automatic route for manufacturing of medical devices subject to certain conditions.
Turnover of Gujarat Pharmaceutical industry was worth USD$ 6.7 Billion in 2015-16; while exports was worth USD% 3.06 Billion. Provides employment to around 85,000 people. More than 255 WHO-GMP compliant manufacturing facilities in India are from Gujarat. Accounts for 53% of the total medical devices manufacturers in the country
Pharmaceuticals Industry Key Themes
- Overview of the regulatory Landscape for Pharmaceutical Industry
- Pharma Industry: Best Practices, Innovations and Technologies
- Growth Strategy for Pharmaceutical and Allied Business Services
- The First Peek: Product Showcase and R&D Labs
- Global Perspective: Challenges and Opportunities for Pharmaceutical Industry