Mr Sanjaya Mariwala, Executive Chairman and Managing Director, OmniActive Health Technologies Ltd., India and Founder President, Association of Herbal and Nutraceutical Manufacturers of India (AHNMI), on the Union Budget 2023-24
“Madam FM has successfully carried a fine balancing act, as she managed to take care of the interests of all stakeholders with the last budget prior to the general elections. Quoted as the first budget of 'Amrit Kaal', it can be safely termed as a populist one, with initiatives for the corporates as well as the common man.
While the agriculture sector received the required boost through the Agriculture Accelerator Fund, the setting up Bio-Input Resource Centres and the Digital Public Infrastructure is expected to boost farmer-centric solutions and improve access to farm inputs. As a result, the sector is expected to be transformed with increasing productivity and improved crop quality, actively contributing to the fulfilment of the demand for nutritious food.
Further, the announcement of the setting up of new laboratories for developing applications and excellence centres for artificial intelligence satisfies the healthcare industry's demand for innovation through R&D efforts. Additionally, this may encourage industry participation in conducting interdisciplinary research and developing cutting-edge technology for the industry's sustainable growth.”
Established in 2005, OmniActive seeks to improve lives through innovative science and natural health solutions. OmniActive’s product portfolio consists of scientifically validated, IP-protected, branded Specialty Actives and an extensive line of natural Botanical Actives for global customers in the dietary supplement, functional food, and beverage markets. The Company’s leading brands include Lutemax 2020, Lutemax Brain, Lutemax Free Lutein and Lutein Esters, Lutemax Skinglo, Capsimax, Curcuwin Ultra+, enXtra, Gingever, Nutritears, and Xtenergy. OmniActive partners with customers through its sales and distribution networks in key markets worldwide, supported by three global R&D centres and best-in-class production facilities throughout India. The Company has offices in Mumbai, India and Morristown, New Jersey.
Incorporated in April 2020, the Association of Herbal and Nutraceutical Manufacturers of India (AHNMI) is a membership-driven, Not-for-Profit Organisation, functioning as an apex representative industry body of Indian Herbal & Nutraceutical Manufacturers involved in the trade of herbal extracts, dietary and health supplements.