On October 25, 2024, the Federation of Indian Chambers of Commerce and Industry (FICCI) hosted the 3rd International Fragrance Business Summit at the Central Institute of Medicinal and Aromatic Plants (CSIR-CIMAP) in Lucknow, India. The summit brought together industry leaders, policymakers, and global experts to discuss the fragrance industry's future under the theme “Advancing Sustainable Opportunities: Inclusive Growth for the Fragrance Industry.”
In her inaugural address, Bhuvana Nageshwaran, co-chair of FICCI’s Fragrance Taskforce and Director-F&F of Ultra International Limited, highlighted India's growing role in the global fragrance market. She emphasized the need for policies that support farmers, ensure fair compensation, and address issues like adulteration in essential oils. Bhuvana advocated for clean labels that guarantee genuineness, calling for the harmonization of standards that prioritize transparency and quality while keeping the interests of farmers in mind.
A key highlight of the summit was the signing of two significant Memorandums of Understanding. The first, between FICCI and IFRA, aimed to promote sustainable practices and raise quality standards within the fragrance industry.
“The signing of the (memorandum of understanding) between IFRA and FICCI is a milestone in fostering stronger relationships between the global fragrance community and India”, said Hans Holger Gliewe, Chairman of IFRA.
The second memorandum of understanding, between CSIR-CIMAP and Harcourt Butler Technical University, focuses on strengthening academic-industry partnerships to enhance research and innovation in fragrance development. The summit also featured discussions on sustainable sourcing and innovative production practices. Alok Kalra, PhD from CSIR-CIMAP introduced the concept of "Sustainable Aroma Clusters," a model designed to improve raw material quality while supporting local economies. These clusters will promote sustainable farming practices for aromatic crops, benefiting both farmers and the fragrance industry.
The third session focussed on establishing harmonized safety standards to safeguard consumer health and ensure product quality. Panelists from IFRA, RIFM and other experts in this area discussed frameworks for harmonizing fragrance safety regulations to build consumer confidence and facilitate smoother international trade. A pivotal discussion focused on harmonizing fragrance safety standards to ensure consumer protection. Chaired by Siva Kumar, PhD, the session addressed aligning India’s fragrance safety protocols with global standards.
The summit concluded with a call for increased collaboration between the public and private sectors, transparency in sourcing, and rigorous safety assessments to ensure the global competitiveness of India’s fragrance products.
