With a view to support the booming probiotic industry in the country, the Centre has recently invited the world business community to come and do business in this potential area. Dr H G Koshia, commissioner, Gujarat Food & Drugs Control Administration (FDCA), in his recent presentation delivered at the World Congress of Probiotics (WCP) 2012 in US, conveyed that the Indian government is open for investments opportunities in the probiotic segment from investors from across the world.
Dr Koshia represented India by being one of the key speakers among the four other international regulators from US, Argentina and China at the congress. He stressed that probiotic industry in India is growing at the rate of 22 per cent when in the rest of the world the industry is growing only at 12 per cent.
He highlighted and gave detailed information on the regulatory matters pertaining to licensing and marketing of probiotics as drugs or food supplements in India and pointed out why India can be a preferred investment destination for this booming segment.
Dr Koshia said, “India has a huge market potential for probiotic products as it has youth power who are health conscious and give high credence to preventive measures which basically is what probiotic products are for. Most importantly the government is keen to support and promote the class of probiotics in the country to support healthcare.”
Probiotic products basically contains good bacteria that protects the body against harmful bacteria by killing them while at the same time does not have any side effects like the antibiotics. Dr Koshia pointed out that today probiotic products are available in the country the way it is being claimed by the manufacturers.
Probiotics are available in the marketplace in the form of food products like yoghurt, ice creams and milk beverages etc. whereas in the dietary supplements form it is available as capsules, tablets and powders and in the drug form it is available as pharmaceutical formulations with therapeutic claims.
To support the growth of the probiotic products in the country the Government in its 2012-13 budget has slashed down the taxes on the probiotic food and drugs by 50 per cent, from 16 per cent to 8 per cent.
At present, the Indian Council of Medical Research (ICMR) and the Food Safety and Standards Authority of India (FSSAI) are working together to bring out a draft guidelines for probiotic food. Whereas, most of the probiotic products that are available as drugs in the country currently falls under the category of patented and proprietary (P&P) medicines and requires to comply with standards as per Schedule V of the Drugs and Cosmetics Rules 1945.
However some industry insiders feel that the government should take requisite steps to bring draft guidelines for probiotic drugs at the earliest so that it will help in giving this segment more credibility.