Global fragrance self-regulatory body sets up India operations | Mint
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Business News/ Companies / News/  Global fragrance self-regulatory body sets up India operations
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Global fragrance self-regulatory body sets up India operations

International Fragrance Association (IFRA) has set up operations in the country
  • The self-regulatory body promotes the safe use of fragrances in FMCG products, candles, and luxury perfumes
  • The self regulatory body aims to standardize the $3 billion unorganized fragrance market in India (IFRA)Premium
    The self regulatory body aims to standardize the $3 billion unorganized fragrance market in India (IFRA)

    In order to standardize the $3 billion unorganized fragrance market in India, The International Fragrance Association (IFRA) has set up operations in the country. Martina Bianchini, the organization's global president said the self-regulatory body promotes the safe use of fragrances in FMCG products, candles, and luxury perfumes. She said the organization seeks to develop local understanding of international best practices and it will advocate for fragrance legislation in India covering cosmetics and chemicals.

    “India is a country of spice and flowers. The history of fragrance dates back to centuries. Therefore, the Indian fragrance industry is of utmost importance globally since an increase in production In India will result in the globe getting more of these products. Our engagement in India highlights the importance of the country’s fragrance sector in the global industry all the way from the farmers, growers to the manufacturers," Bianchin said. The total value of the base products of perfumes made in India is about 3.8 billion pounds and 75% of that is exported, she said quoting an Avendus report. She added that the size of the organised fragrances and flavours market in the country was nearly 1.26 billion pounds of which about 30% are exported.

    India is a major supplier of high quality, natural fragrance ingredients. She said it is difficult to get exact figures on the industry here because it is unorganized and very vast in its socio-economic impact.

     

    The value chain of International Fragrance Association (IFRA) is the global representative body of the fragrance industry
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    The value chain of International Fragrance Association (IFRA) is the global representative body of the fragrance industry (IFRA)


    The International Fragrance Association (IFRA) is the global representative body of the fragrance industry which seeks to represent the collective interests of the industry and promote the safe use of fragrances.

    Bianchini said IFRA is a voluntary body and hopes its presence in India will strengthen the fragrance industry, helping it to meet global standards. She said the agency is a coordinating platform for any challenges on safe use and sustainability. “It is voluntary but we hope that companies are going to follow this standard as it will only help them. Excessive or wrong use of perfumes in products can cause skin problems and companies will eventually look to become more compliant with global standards," she said. The Federation of Indian Chambers of Commerce and Industry (FICCI) also recently held its first ‘Fragrance Business Summit’ in which the association participated. “IFRA is here to learn about the needs of the stakeholders in the Indian market and to support their capacity building activities", added Bhuvana Nageshwaran director of Ultra International, a fragrance and flavours company that is part of IFRA. Ultra International is among its nine member companies in India.

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    ABOUT THE AUTHOR
    Varuni Khosla
    Varuni Khosla is a journalist with close to 14 years of experience in writing business news stories for mainstream newspaper companies like Mint and The Economic Times. She reports and writes on luxury and lifestyle brands, hospitality and tourism news, the business of sports, the business of advertising and marketing and alcohol brands.
    Catch all the Corporate news and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
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    Published: 23 Sep 2022, 07:59 PM IST
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