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.
Date: 28th August, 2017
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.
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.