Second edition of the FICCI Fragrance Business Summit held
The second edition of the FICCI Fragrance Business Summit held on October 5, 2023, at the Federation House in New Delhi brought to light several key points and highlights related to the fragrance industry in India. The summit emphasized the significance of skilling and capacity building in the fragrance industry. As the sector continues to expand, there’s a growing need for a skilled workforce capable of meeting the industry’s demands. This requirement encompasses not only technical skills but also soft skills, including effective communication and teamwork. It was stressed that investing in training and development programs is essential to ensure that the workforce is adequately prepared to tackle future challenges.
Traditionally, the fragrance industry has been dominated by large corporations, leaving limited opportunities for SMEs. The summit highlighted the importance of empowering SMEs and promoting gender equality within the industry. This empowerment involves providing training and capacity-building programs tailored to SMEs’ needs and fostering gender diversity in the sector. The summit presented a case study of industry intervention in collaboration with tribal farmers, focusing on lemongrass production in the Annamalai Tiger Reserve. This highlights the industry’s connection with farming and tribal communities and showcases efforts to support and collaborate with these communities in a sustainable and mutually beneficial manner. The event underscored the substantial potential of the Indian market within the fragrance industry. India is known for its diverse and rich tradition of fragrances and perfumes, and there are ample opportunities for growth and development in both the domestic and global markets.
The summit emphasized the importance of adopting sustainable and innovative practices within the fragrance industry. Sustainability is a critical consideration in today’s business landscape, and the industry should strive to incorporate eco-friendly and socially responsible approaches. The event acknowledged the challenges that the fragrance industry faces, such as the need for skilled workers, empowerment of SMEs, and sustainable practices. These challenges were seen as opportunities for growth and development in the industry
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