THE CONFERENCE PROCEEDINGS - IFEAT

The rewards for those who innovate, adapt, and develop a deep understanding of India’s newconsumers will be substantial. Perhaps the most attractive aspect of India’s consumer growth is thatthe history of this market is yet to be written. The changes that are foreseen – a quadrupling ofconsumption and a dramatic shift in the structure of incomes will represent a period of discontinuity.Today’s winners will not necessarily be tomorrow’s, and the field is open for entrepreneurialcompanies to take advantage of these fundamental changes.While we are pleased with our achievements, the business is not complacent. It remains focused on theroad ahead – simultaneously addressing the challenges of today while investing in the opportunities oftomorrow.Competitive pressures will be on the rise as newer entrants seek a slice of India’s long-term growthpotential. None of these challenges are new; they have stayed with us in some form through the years.Our ability to steer through these conditions and lead the market is reflected in the numbers we willdeliver.Over the next decade, all these changes will continue to impact the F&F industry favourably. Whilemany leading foreign multinational companies have operated in the country for years, given liberalpolicies, the next decade will witness increased competition from tier two and tier three global players.In addition, larger Indian companies will continue to seek opportunities internationally and gain accessto more global brands, products and operating practices.Pressure from government, NGOs and consumers for efficient and prudent use of environmental andnatural resources will increase. The industry will need to significantly increase its efforts to drivesustainability as a core business strategy.In conclusion, I expect challenging years ahead and should remain focused on what we need to do tofurther enhance our competitiveness.Despite these challenges we look forward with confidence to the years ahead.Sant K. Sanganeria is Managing Director of Ultra International Ltd. He is agraduate of St. Xavier’s College Calcutta, and came to New Delhi in 1970. Thefollowing year he established Radha Sales Corporation, a leading tradinghouse importing aroma chemicals and essential oils with Tata Exports Ltd. Hebegan to travel widely, forging links with important international F&F housesto greatly increase the number of materials and supply. This internationaltrading network became a powerful force in the industry demanding moresubstantial administrative and manufacturing facilities. In 1989 a corporatehouse, Ultra International Limited, was established at Sahibabad tomanufacture essential oils and aroma chemicals. Today Ultra is one of theleading manufacturers of F&F in India, serving customers worldwide. In 2007 he established UltraInternational B.V., Netherlands to distribute these products worldwide. He has held key positions ininternational organisations, including IFEAT, in which he was a Founder Member, Vice Chairman(1989-1992) and Chairman (1992-1995) and Executive Committee Member until 2004.38