India, March 18 -- India is working with global regulatory bodies, like Codex Alimentarius Commission, to formulate regulations for the nutraceutical industry, which has huge growth potential, Food Processing Industries Minister Chirag Paswan said on Tuesday.

"Nutraceuticals are again one of the fastest-growing industries. When it comes to this particular sector, we need to have regulations in place," Paswan told reporters. "We are working closely with international regulatory bodies like Codex to have formal regulations so that the industry can grow."

The scope of this industry is massive, and since it is new, numerous reforms and policies need to be implemented, for which the Government is currently in the process, he added. Paswan, a...