Could you give an insight into your journey in the nutraceutical industry and the genesis of OmniActive Health Technologies?
That is an interesting question. I used to run a different company within my family called Mane Kancor Ingredients Limited. We dealt with food ingredients, such as spices, extracts, menthol, and essential oils, and exported them worldwide. However, I realised that this business wasn’t my creation; it was inherited. I wanted to establish my entrepreneurial legacy, something designed and envisioned by me.
Secondly, I observed that the food business, while profitable, lacked innovation. It primarily focused on generating profits without addressing consumer needs or pursuing a visionary mission. So, I sought areas where my knowledge of natural products could be applied—personal care and healthcare. We chose healthcare because it represented a new-age industry with room for innovation, aligning with our vision. In contrast, personal care was traditionally dominated by French companies, making it difficult for newcomers like us.
Preventive care science was deep-rooted in India, however, like many other things, people remained under Western influence and were more focused on research and innovations happening in synthetic chemistry. What was unfolding on the other side was the keen interest of the Western world in the Indian heritage of Yoga and Ayurveda. There was a steady rise in wellness tourism – people either coming for their treatments or coming to study the subjects. Together with this, the internet was picking up and millennials were becoming more global, better aware, and wellread about various options available worldwide. These were enough indicators to begin the journey in the nutraceutical space.
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Denne historien er fra Oct 2023-utgaven av The Machinist.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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