The summit also witnessed the signing of MoU with the Hindu College, University of Delhi and the industry to start the perfumery course. The MoU was signed by professor Anju Srivastava, principal of Hindu College with Martina Bianchini, president of the International Fragrance Association (IFRA) and Sant Sanganeria, founder, chairman and M.D., Ultra International Limited.
courtesy of FICCI
On October 5, 2023, the Federation of Indian Chambers of Commerce & Industry (FICCI) hosted the second edition of the FICCI Fragrance Business Summit at the Federation House in New Delhi. The summit aimed to explore and discuss emerging sustainable opportunities for inclusive growth within the fragrance industry as well as inclusive growth.
The following are highlights from the event provided by FICCI:
- The summit highlighted the importance of skilling and capacity building in the fragrance industry. As the industry grows, there is a need for a skilled workforce that can meet the demands of the industry. This includes not only technical skills but also soft skills, such as communication and teamwork. The industry must invest in training and development programs to ensure that its workforce is equipped to meet the challenges of the future.
- The fragrance industry has traditionally been dominated by large corporations, leaving small and medium-sized enterprises (SMEs) with limited opportunities. To address this challenge, the summit highlighted the importance of empowering SMEs and promoting gender equality. This includes providing training and capacity-building programs for SMEs and promoting gender diversity in the industry.
- Given the deep linkages of the fragrance industry with the farming and tribal community, the summit also presented a case study of industry intervention in the lemongrass with the tribal farmers of Annamalai Tiger Reserve.
- Overall, the summit emphasized the potential of the Indian market, the need for sustainable and innovative practices, and the challenges facing the industry and it is expected to contribute to the growth and development of the fragrance industry in India and globally.
