The Hindu Business Line : Health, food supplement cos eye Indian market

FOREIGN health and food supplement companies are eager to tap the Indian market even as the Health Ministry is yet to come out with a separate legislation for control and regulation of food supplements in the country.

Leong Vee Chong, Malaysia and William S. Merginio, the Philippines, have proposed to set up a 100 per cent subsidiary Health Code (India) Pvt Ltd to import health and food supplements from abroad and distribute them here on a wholesale and cash and carry basis.

Similarly, Mega Lifesciences Pvt Ltd has sought permission "to undertake additional activities of trading (export-oriented) in various pharmaceuticals and neutraceutical products used for treatment, cure and healthcare of human beings and animals."

This company already manufactures such products here.

Besides, the company wishes to buy 26 per cent equity from one of its resident shareholders and convert itself into a 100 per cent subsidiary.

Officials in the Health Ministry said that as there is no law prohibiting imports of diet or health supplements, these proposals are being cleared. "Currently, many products are being imported into the country in the garb of health food supplements, nutraceuticals or dietary supplements. Through the legislation, we want to make it mandatory for companies to get prior approval from the Government before launching their products in India," said sources.

The proposed Health Food Supplement (Manufacture, Import and Sale) Regulations Act will try to protect public interest, they said. The US Food and Drug Administration has a Dietary Supplement Health and Education Act, which clearly spells out norms for such products.

The market for dietitic foods in the country is estimated to be over Rs 1,500 crore with slimming foods growing at 13-15 per cent per annum, medical foods has been growing at 10 per cent while sports nutrition is expected to show slower growth of around 6 per cent.

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