Friday, August 9, 2013

FICCI's Wellness Conference Report


As you all know that we recently partnered with FICCI for their 5th Wellness conference on ‘Wellness in India – Sustainable Growth & Future Roadmap’ that happened in the capital recently. We are here with the glimpse of the event. Don't wonder, there are a lot of interesting industry related facts, which can be useful for you too...
The Chief Guest for the event  Girish Shankar, Additional Secretary, Ministry of Tourism, while addressing FICCI’s conference said that India will host the seventh edition of the Annual Global Spa & Wellness Summit (GSWS) in Gurgaon from October 4 -8, 2013. He said that in India wellness tourism can flourish by following 3Cs namely, cost, credibility and consistency. India offers competitive pricing attracting foreign travelers to the country and it needs to continue. There are a large number of service providers in India but there is a need to ensure their credibility and allow only accredited players in the sector.
FICCI Auditorium During the Event...
Mr. Shankar said that the Ministry of Tourism is only a facilitator because the wellness industry is driven by the private sector. On the occasion, Mr. Shankar released a FICCI-PwC report on ‘Imperatives for growth - The wellness industry’. According to the report, the wellness industry is expected to touch 1 trillion INR by 2015, growing at CAGR of 15%-17%, from the level of 700 billion INR in 2012. 
FICCI & Minister Releasing Report...
Mr. Dilip Chenoy, MD&CEO, National Skill Development Corporation (NSDC), stated that the government policies need to ensure that the working population is skilled to meet the requirements of the industries. He also pointed out that the 50 per cent of this industry is fragmented and there is scope to bring it under the ambit of organized sector. Ms. Naina Lal Kidwai, President, FICCI, pointed out that one of the other major contributions and expectations from the wellness industry is its capability to generate massive employment opportunities. Wellness services in India are projected to have potential for generating over 3 million jobs by 2015. “We, at FICCI, believe that despite many initiatives a lot more needs to be done by both the regulators as well as by the industry for a holistic development and growth of wellness industry. The need for accreditation of wellness courses; lack of skilled workforce, consistency in quality of products and services, tax and duty reductions are some of the impediment of growth and need further attention,” Ms. Kidwai added.  Mr. Sandeep Ahuja, Chairman, FICCI - National Wellness Committee and MD, VLCC Healthcare Ltd., said that the biggest challenge for the sector is fragmentation. The sector also lacked skilled manpower, and there is an urgent need to skill the workforce. Retaining skilled human capital is another hurdle for the industry, he added. Ms. P Rashmi Upadhya, Associate Director, PricewaterhouseCoopers Pvt. Ltd., made a presentation on FICCI-PwC knowledge paper underling the challenges that the wellness industry is facing today. While players are developing strategies to control costs and arrive at optimal cost structures, managing input costs continue to be a challenge due to the limited capability of the players to pass on these costs to the customers. The wellness industry continues to face a talent crunch. This paucity of skilled talent has resulted in high manpower costs and attrition levels. This may result in a ‘war for talent’, unless active measures are taken to create credible and accessible training infrastructure, she added.
AWSW Reporter of the Day...
While these were a few detailed industrial facts, our reporter for the day Swarnpreet Kaur Tuli managed to speak to the delegates, and got some interesting inputs...
"The biggest challenge for the sector is fragmentation. The sector also lacks skilled manpower, and there is an urgent need to skill the workforce. Retaining skilled human capital is another hurdle for the industry." - Sandeep Ahuja (MD, VLCC Healthcare Ltd)
"There exists lack of skilled people in the wellness sector. There is a full-fledged support from the government and income tax has also been exempted for them. Once the para 113 scheme gets implemented, skilled people will get an incentive of Rs. 5,000. Presently, NSDC has 21 training sectors. But we are looking forward to increasing the number of training sectors which would increase employment. NSDC has also initiated project ‘Udaan’ with the aim to help the youth of Jammu and Kashmir." - Dilip Chenoy (MD & CEO, NSDC)
"While players are developing strategies to control costs and arrive at optimal cost structures, managing input costs continue to be a challenge due to the limited capability of the players to pass on these costs to the customers. The wellness industry continues to face a talent crunch. This paucity of skilled talent has resulted in high manpower costs and attrition levels. This may result in a ‘war for talent’, unless active measures are taken to create credible and accessible training infrastructure." - Ms. P Rashmi Upadhya (Associate Director, PricewaterhouseCoopers Pvt Ltd)
"It is a good initiative taken by FICCI and the support of wellness sector is pretty good. These conferences are organised to bring up the problems in this sector and to discuss the solutions to them." - Anurag Kedia (Director, The Four Foundation Spa)
"The whole thing is that ke bhaiya sabse bada rupaiya!"- Dr. Apoorva Shah (Founder, Richfeel Trichology Centre)
"We are looking forward to opening more spas across the country and this conference is surely a help." - Dr. Abhishek Jain (Spa Manager, ESPA, The Leela Palace, Udaipur)

NOTE:
This is a promotional feature, and therefore is majorly about FICCI's initiatives, and participants of the event...

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