Centre of Excellence in Nutraceuticals in capital

The State Cabinet on Wednesday approved the setting up of a Centre of Excellence in Nutraceuticals in the capital. This will be a joint venture of the Kerala Development and Innovation Strategic Council (KDISC), Kerala State Council for Science, Technology and Environment and Kerala State Industrial Development Corporation.

The Cabinet also decided to allow land for the same at the Life Sciences Park at Thonnakkal, near here. Research and development activities will be initiated by the centre and, for the time being, it will utilise some of the space allocated to the Institute of Advanced Virology for setting up its laboratories.

The centre is expected to conduct research on the rich bioresources of the State, including its plant wealth and the mineralrich marine resources and to explore the commercial prospects of developing various nutraceuticals. The government believes that this venture could be a good opportunity for the State as it already has a legacy of herbal and Ayurveda medicine and a wealth of spices and marine resources.

According to the government, a study done by Invest India had noted that the nutraceuticals industry had been growing exponentially, catering to the needs of the wellness and beauty industry as well as the health-care industry. The report said India has a 2% share in the global nutraceuticals market with a market value of $4 billion and that it is expected to show a growth of $18 billion by 2025.

The government also believes that Kerala stands a much better chance than other States as far as the availability of raw materials, conducive weather and environment conditions, rich biodiversity and availability of trained human resource are concerned and that it can help lay the foundation for a good nutraceutical industry.