NIF and BVG group form nutraceuticals joint venture
Aims to tackle nutritional deficiency in women and children in India
The National Innovation Foundation - India (NIF) has entered into an agreement with Bharat Vikas Group (BVG) India to form a new joint venture company for nutraceuticals and healthy foods based on traditional knowledge. The Memorandum of Understanding was signed at by Shri H R Gaikwad, Chairman and Managing Director of BVG India, and Dr Vipin Kumar, Director and Chief Innovation Officer, NIF India on 5 June 2014 at Pune.
BVG is keen to explore opportunities for nutraceutical and functional food-based products for different segments of society and is therefore entering into a joint and symbiotic relationship with NIF. The Joint Venture Company will manufacture a range of functional and medical foods and supplements developed at NIF for the Indian market as well as for export to global markets. Both NIF and BVG will hold 50% equity share capital in the joint venture company.
NIF is an autonomous body of Department of Science and Technology, Government of India, with the mission to make India innovative and a global leader in sustainable technologies.
BVG is a flagship company of Bharat Vikas Group and is among the best facility management brands, having more than 45,000 employees spread across 70 locations all over India.