medicine business plan india

6 Simple Steps to Start a Medicine Wholesale Business in India

Written by BusinessAlligators Support

Start business, 231 comment(s), may 6, 2022.

The Pharma industry in India today ranks 4th in volume and 13th in value in the global pharmaceutical market, with exports worth US Dollars 2.6 billion besides domestic sales of over US Dollar 4 million worth. India’s different types of pharmacies are a standalone, hospital, chain pharmacies, and township pharmacies. All of these can be registered under the partnership or as a private limited company and thus can easily be transferred, or profits can be shared among the partners.

Before you proceed any further, I would recommend you to also go through our article on the basic steps of starting a business after reading this one to get a wide view of deciding your target market, fundraising, etc.

Now let’s proceed to how you can start your own medicine wholesale business n India easily.

1. Legal Procedure to Start a Wholesale Pharmacy

The Drugs and Cosmetics Act, 1940 (amended in 1945) states the guidelines for importing, manufacturing, and distributing drugs in India. It contains provisions for the classification of drugs under given schedules. To start a medical pharmacy business, one needs to get a license from the Central Drugs Standard Control Organization (CDSCO) or State Drugs Standard Control body, under form No. 19. The person should have a degree or diploma in pharmacy from a recognized institution or university with one year of experience in dealing with drugs. The pharmacist must also get the GST registration for any payment transaction.

Documents required while applying for the license-

• Application form in the prescribed format.
• Covering letter with the intent of the application signed with the name and designation of the applicant.
• Challan of fee deposited for obtaining drug license.
• Declaration form in the format prescribed.
• Key plan (Blueprint) for the premises
• Site plan (Blueprint) for the premises
• Basis of possession of the premises
• Proof of ownership of the premises, if rented
• Proof of constitution of the business (Incorporation Certificate/ MOA/AOA/Partnership Deed)
• Affidavit of non-conviction of proprietor/ partners/ directors under Drugs and Cosmetics Act, 1940.
• Affidavit of a registered pharmacist or competent person working full-time
• Appointment letter of registered pharmacist/competent person, if an employed person.

The legal bindings do not end here. Regular inspections by a pharmacy inspector are held under the supervision of CDSCO, headed by the Drug Controller General of India. GN Singh being the current DCGI, makes it strict for all the local, retail or wholesale pharmacies to maintain the standards of sale, storage, and display of drugs.

If you want to know some more details on India’s company registration process, you can Click Here .

2. Premises to Stock the Medicines

It is mandatory to submit the proper verifiable documents regarding the pharmacy’s area to be started. The apt space for a wholesale pharmacy is a prerequisite. The requirements change when both retail and wholesale are combined. Refrigerators and air-conditioners are a must for obvious reasons that concern the biomolecular damage to the vaccines, sera, insulin, injections, etc. The place should be kept clean and rodent free to ensure proper hygiene.

3. Investments to Set up a Pharmacy Wholesale

With an initial investment as per the demands of the startup, the otherwise expenditures may include maintenance charges and buying of medicines and drugs.

• Documentation and License:- Approximately 25OOO/- including Rs 3000/- as registration fee
• Furniture:- Shelves and cupboards, air conditioner, and refrigerator may add up to 2 lacs
• Computer system- Rs30,000
• Premises (if rented)

Working staff, including a pharmacist and 2 employees for 24*7 (70,000 / month). An investment of 40-80 lakhs is required in establishing a wholesale business, considering the quantity of stock required.

The cost of drugs stocked in the pharmacy store is included in this. Whereas medicines costing around Rs 20 lakhs – Rs 50 lakhs need to be distributed to the retailers on a loan basis in order to establish a healthy professional relationship.

4. Awareness Related to Current Trends in Drug Dealing

In India, the Schedule B (Rule 98) of the Drugs and Cosmetics Act (1948) specifies the ‘shelf-life’ (mostly 1-5 years) of drugs and the conditions of storage. Beyond the expiry date, the various drug formulations must be discarded to avoid toxicity. The pharmacist or the dealer should be vigilant about the life period of stored medicines and their different schedules. For example, schedule H lists the ‘prescription drugs’ that can be sold only against a prescription issued to a patient by a registered medical practitioner.

The ‘non-prescription’ or ‘over-the-counter’ (OTC) drugs can be sold even by grocery stores. It is important to stay in touch with the ongoing trials of drugs held by the government to be informed of the banned medicines. It also helps to know about the drugs popular with the medical practitioners so that they can be stocked adequately. The medicines or cosmetic products which are not popular tend to decrease the profits as they, when stocked, may expire with time and need to be removed from shelves. Segregation of medicines pertaining to age groups can ease the functioning of the pharmacy.

5. Collaboration with the Local Clinics, City Hospitals, and Health Centers

Collaboration with existing medical stores is very beneficial when the dealer can come up with more exciting offers and benefits. Providing the local clinics or the pharmacies with drugs of better quality at the same price or larger incentives at the same selling price can guarantee a wider market for the business. Cheaper drugs from alternate pharmaceutical companies are preferred by pharma stores of tier-2 and tier-3 cities, while medical stores of metropolitan cities prefer larger discounts without reducing the MRP, provided quality is not being compromised.

For Example, if drugs from Ranbaxy are more popular with the pharmacies in an area, but Cipla manufactures similar drugs at a cheaper price. Then, convincing the medical store owners to sell Cipla drugs can help establish the clients.

Collaboration with the local clinics/ hospitals, new medical shops or pharmacies in the area will ensure profits; this is largely based on the trust and professional ethics of the dealing parties.

6. Associating with Government Policies

Under the Pradhan Mantri Bharatiya Janaushadhi Pariyojana ( PMBJP ) scheme, the government aims to provide generic or cheaper medical drugs to the people. Generic drugs form the largest segment (70%) of the Indian pharmaceutical sector, with OTC medicines (21%) and patented drugs forming the remaining 9%. The National List of Essential Medicines (NLEM) states that the prices of drugs under the First Schedule of Drugs are fixed uniformly for all branded and generic medicines containing the same active molecule. In the case of non-scheduled mode, manufacturers are free to increase the Maximum Retail Price (MRP) by more than 10% of MRP. Selling generic drugs cannot improve the margin so much, but this can help avail the government’s benefits in association with the scheme training of the pharmacist or the other staff members, discounts in prices.

The organized computer-based program helps to reduce investment in resources like human labor and capital. Pharmaceuticals and healthcare companies employ medical sales representatives. They endorse the drugs manufactured by their employer companies by distributing free samples to various clinics and healthcare units. This saves the pharmacist the expenditure on advertising a new brand or equipment. Working with Carrying And Forwarding Agents, more popularly known as C&F dealers, is another feature of the pharmacy wholesale business. They purchase medicines from pharmaceutical companies and sell these to wholesalers. A company can have 2-3 CFAs in each Indian state and then pay them as per the turnover of products in a year. The pharmacy business is an excellent startup if it religiously follows the rules and regulations. With minimum investment, it turns over significant profits. After all, health for all matters!

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231 Comments

Want to open a generic medicine Distribution

So what’s stopping you?

I am interested.

I am interested

How much does it cost to open a generic medicine distribution?

My father has started a medicine wholesale business from 20,000 rs only.

I am from Myanmar, I want to import medicines from India

Hi Narnee Pokhrel, please contact us.

I can help you if you want to export the medicines.

Which type of medicine do you buy from India?

I want to start a generic wholesale medicine business, I’m from Mumbai suburban area Kurla, so what I have to do 1st and give me your contact number.

I want distributors to sell medicine, we are looking for a business partner. Kindly contact

I wanna start medicine distribution business.

Have you started?

I am interested in becoming a dealer and distributor.

Please contact me

JOIN BECOME A FRANCHISE PARTNER

I am ready for that. Kindly contact.

I am interested to start wholesale medicines distribution

Where you have your business bro (which location). If it is near to my location. I will try to join you.

I want to start the medicine distribution business in Nashik.

Hello, Myself Ayush, Please let me know which city you are looking for distributors.

Hello sir, I am interested in being your business partner.

We are wholesale distributor in Chennai. We need franchise for generic medicine.

What is stopping you?

I am interested in this opportunity and I have two places which I can use as my godown/storehouse, one is in Kolkata (120 Sq ft) and one is in Hooghly (300 Sq Ft), have good sources in local Medical Hall/medicine clinic/houses and I have also good manpower for distributing but I don’t have a license but I want to enter and start this partnership. Can you please send me any opportunities that I can work with you? I will be looking forward to hearing from you soon.

Hi, I am Md from Kolkata. If you’re not engaged with anyone else, I welcome you to have a discussion to make opportunities for each other.

Kindly provide information

I am ready to be a partner for the distribution of medicine. But I have very low capital. If interested to work as a partner and investor, contact me.

Where can I contact for generic distributorship of Alkem, Cipla, Abbot, Intas, Leford?

I want to be your distributor.

I am Warangal district, Telangana state. I would like to open a generic medical wholesale agency with low capital. May I know how much capital is required to start a generic wholesale agency?

I am interested. I am a B.pharma graduate and seriously want this opportunity in my home location.

I want to learn about it. I am interested if it works out.

Can you send me all the details?

Is the option still available for collaboration? Although, I am new to this field.

I want to distribute drugs in our area by opening a wholesale shop in Kaman, Bharatpur, Rajasthan.

I am interested in doing this business.

I’m a fresher, just competed my (pharm d/ doctor of pharmacy) I’m interested in starting the business.

What are the requirements?

Hi, even we want to take a medical distributorship. If you want we can talk about this.

Hello sir/mam, I am really interested in opening the wholesale of medicines, so please tell me how to startup.

I am also interested; please tell me.

I am looking business partner to sell medicines in our district Bijnor U.P. I have a valid license to sell the medicines.

I am interested in your plan; kindly brief me on your necessary information.

I am ready to distribute your medicine, how can I get in touch with you?

Hi, I am interested

Please get in touch with us. We are eagerly waiting to hear from you.

Sir, I am interested and I want to be a distributer.

If anyone does not have pharmacy certification; can he start this business?

Hi sir, I am Mr. Salman Abdul Rasheed Borkar, I want to open a generic medicine in our growing areas. Please guide me 😊

Yes, please tell me the easy procedure.

How to be a wholesale generic medicine distributor? Please contact me.

Hi Susheel Paul, There is no difference in taking a generic medicine franchise. The procedure is completely the same as in the case of other branded company. 1. You need to take wholesale supply license and other drug licenses which are mentioned in the article. 2. Contact companies which manufacture drugs/ medicines and ask for their franchisee. 3. Start selling

Can I get a wholesale medicine store license by hiring another person?

I am also looking for either c & f or distributor in pharma in either Chandigarh or Dehradun

Hi, can you help me in starting the medicine wholesale franchisee?

What kind of help are you looking for?

I am looking to start a generic medicine production plant.

I am from Myanmar, I want to import medicines from India.

Email us for the same, will connect you with the right source.

Pls suggest me how to start

How to become a generic medicine distributor?

Hi, I want to become a wholesale distributor.

Hi I have 2200square feet basement available in New Delhi. I am planning to start the medicine distribution as I have also good knowledge of cold room. Please tell me the procedure for the same. Thanks

Contact medicine companies through their official website and tell them about your wholesale business. They will tell how to proceed for the same.

Can i strat generic medicine business within 5 Lacks Investment ? without any space ? (I mean beginning from Home).

You cannot start a wholesale business in that budget. If you are planning to start a medical shop then I don’t think you can get licenses to sell medicines from home. And please don’t try to sell medicines without proper licenses else you might face severe consequences.

Sir my self Nishikant Gupta from Sagar MP Sir please suggest me how can take franchise of pharmaceutical company.

Contact franchisee company and complete there all terms and conditions. You can also negotiate for a few things.

I wanna start medicine wholesaler how can start and which company medicine perfect? How their premises?

All companies are good as govt. has strict rules and regulations for medicine manufacturing. I didn’t get what you want to ask in your second question.

Hello, my age is 20. I want to start a wholesale medicine distributor and my budget is Rs20 lakhs. Can I go forward? Please tell me the eligibility for license and also tell me how to startup?

if you belong to a normal city like Gurgaon, Delhi, etc then 20 lakh is a low budget for wholesale distributorship. Also, age is not the restriction until you have required licenses and educational degrees which are mentioned in the article.

Hey, contact me for the same.

Good morning sir, I am interested to start medical agency at the municipality. How much budget do I need, and how to approach medical companies?

Go to the official website of the company. Get their phone number and email-id from there and contact them.

Hello sir, I wanna start both wholesale and retail shop of medicine, what should be the approx budget required for all requirements in medium scale?

I have 20 years of experience in API & formulation manufacturing in quality control as well quality assurance departments, I have completed my B.Sc degree in chemistry, zoology and botony, I can go budget upto 50 laksh, is any additional qualifications required, please suggest regarding qualifications and procedure mentioned in the Indian drug council guidelines.

Yes, you can start and the budget is enough.

Hi sir, can I get your number because I need guidelines to start pharma distributorship in Mumbai?

I HAVE 8 YEARS EXP IN PHARMA TEACHING FIELD AND HAVE GOOD KNOWLEDGE ABOUT PHARMACEUTICALS. I HAVE PLANNED TO ESTABLISH WHOLE SALE OF DRUGS WITH INVESTMENT 1CR AT CITY. I HAVE LESS INCOME SOURCE SO IS THERE ANY CHANCE TO GET LOAN FOR BUSINESS. ALSO I AM PHARMACY BACKGROUND PERSON.

You can apply for a loan in two ways. 1. Before starting the business- Tell the bank that you have your own 1cr and need some more money to start your business in an efficient way. Make a good business plan and projection report and approach the bank.

2. Start with your money and once you start generating money show the statements and ITR to the bank and on that behalf take the loan.

Both the ways are great but in 2nd you take a long time to come into full execution while in 1st you need to visit too many banks. You can decide as per your resources and efforts.

hello sir, I have a degree in MSc in pharmaceautical Chemistry. Can i get drug license for wholesale business. pl, reply .

Thanks & regards, Anurag.

I am a pharma graduate but do not have experience in same field. I am interested in starting my own medicine wholesale distribution business. Please guide me on how to establish lead with existing medicals where other distributors also exist. Also what are the payment terms that are follwed currently. Since the investment is huge what is the return time we can expect?

Would you advise to start a business without having self capital in hand?

If you are taking whole money on interest then I won’t suggest you as you are new and already many competitors are their so you might make many mistakes and loose. Well if you want to lead from your competitors then you need to take care of many things like consistent approach, relaxation is payments, deal with big hospitals, etc. For more, you can read my articles on “sales”. https://www.businessalligators.com/?s=sales

You can also do a job for 5-6 months under such person who own medical wholesale contract in starting to understand the complete flow.

Hello sir, I am working in marketing pharma products from 7 years and have worked with many doctors but I am only 10th pass. Can I start pharma wholesale business?

Please check it with CA

Hi sir, I have done my degree in B.Sc. Chemistry. Can I start wholesale pharmacy business? Any advise? Reply me and ur number also.

Yes, you can start. Contact me on [email protected]

Hello Lokesh Ji, could an MBBS degree holder apply for wholesale drug distributor license?

Yes, they can.

I am planning to start a medicine shop or for wholesale distributorship, I already have a drug license. Can I have a call with you?

Email us your query, will see to it.

Good day! I’m from the Philippines and we have drugstores, I want to buy medicine directly from Indian manufacturing company. How can I start?

Sir I want to start a medicine wholesale business in kolkata in a very small scale. Can I start with Rs 20lakh?

Not possible in this budget. With this budget, you can open a medical store.

I have 13 yrs experience in pharma industry with various segments. Now I have decided to start with my own pharma distributor and Liaison agents for supplying medicine to state government institution, army, ESIC and PSU sector. Could you please suggest me for starting the new distributors what are the documents are required from my end and also how much I need to invest to start?

There is very less probability that big corporations will buy from you especially govt sectors because the majority of time medicine manufacturing companies contact them directly, so there is no point to include a middle man in between.

Then minimum how much capital is required to start a wholesale medicine business ?

Dear Lokesh Tanwar,

I am from Bangalore, my spouse have completed her UG in BPharma and PG in MPharma. Due to personal reasons she didn’t started her career after PG, now we are planning to open a Retail Pharma in Bangalore (she don’t have any previous experience in pharma industry). I would like to take your consultation here. Please let me know how to approach.

Ask your wife to work in a hospital for a few months and apply for a license. After license and bit experience you can start.

I have done M.Sc in biochemistry. Is this qualification enough to start a wholesale business in medicine?

Yeah, you can start.

If u have all medicine drug knowledge u can start retail simply

I have a medicine manufacturing unit and want to enter in online market. what should I do and who should I contact? Please reply.

So do you want to start like “1mg” and “Netmeds”? Or want to do something else, please contact me personally for the same will help you.

I want to start an online pharmacy, what are the regulations to be followed? And can I have your contact number sir?

As of now the rules of online and offline pharmacy are same, but a draft regarding regulation had been proposed in August 2018, once it is passed then rules will change.

It is a bit harsh but I only give personal support to my course students (Business Crux 1.0) due to the restriction of time. This is best for beginners as I have covered everything from idea development to fundraising to market penetration step by step. Here is the link https://course.businessalligators.com/p/business-crux-1-0/

Yes 5 lakhs is enough for this type of business. Please contact me I will inform you how to start this.

How did you start your business with that budget? What all documents were submitted by you and you started from which city?

Hello, Want to be a pharma distributor in Rewa MP. Though I am BSC in chemistry and working in HR kindly suggest how can I start in 10 lac?

How to start sir?

My name is Ravi Doliya and I have just started my new business of injectable and all types of generic medicines in all cites. How can I expand my Business?

I didn’t understand your question. On one side you are saying have already started your business in all the cities and on the other side, you are asking how to expand. If you are already in all the cities then where you want to expand your business? Or am I missing something in understanding your question?

Good afternoon sir, with one wholesale drug license can we supply to all other states, please help.

Sir I have done BE mech. Also I do my job but I am not satisfy with this, so I have decided to join or open a medical agency but I don’t know how to start up? Also how much fund that I can arrange??

You need to partner with someone who is having an experience in pharma. The money will depend on location and vision towards your business.

Hi, I am seeking advice to start medecine export house. Can you guide what all licenses would be needed. We are into export of other products already and aware of general export related processes. So would need your advice on specific licenses need to export medecine.

As of now, I am not aware of the licenses needed in medicine export business, will update you over email once I got any relevant update. You can consult CA or lawyer for the same.

I am Pavan Kumar my age is 28 and I am going to start a loan license company near Tirupathi. Could you please suggest how the future will be for the contract manufacturers and I would like to start this business with an investment of 4.0 crores. Is it possible to start with in this budget. How the Profits will be for contract manufacturers. Because I am taking Loan amount of 3.0 crores from bank. I am planning to keep 2 semisolid manufacturing lines and 4 lines of packing and quality control lab. Please suggest that my idea can work out or any changes required.

Regards, B.Pavan Kumar

I have never worked personally with any loan license company, also budget involved is really big. So I would recommend you to involve a data analytics company. They can help you in a much better way by giving you a detailed report full of data and stats. If you want then I can connect you with such persons.

I want to become a distributor of drugs across the continent of Africa . Any advice for me? Am Currently a pharmacy student.

Start meeting medical store owners and wholesalers owners to get real-world knowledge and to make a good network.

Sir, how to get OTC medicine ?? I want to supply to medical store

In India majority of medical store owners are not clear on which medicines come under OTC (Over the counter). So first read all the legalities related to OTC medicines in India and then proceed. You can even sell a few OTC medicines on the general store so it will expand your reach.

The process of getting OTC medicine is the same. If you want to be the wholesaler then reach the company and if you want to open a normal medical store then contact the wholesaler.

I want to start a wholesale medicine business in Kanpur. I am having a space near wholesale medical market here. Can I apply for loan and start this business, I can only invest 5 lakhs from my own and rest i will take loan. Can you please suggest whether its suitable or not?

You can take the loan, the banks will happily give it to you. But taking a loan is a good decision or a bad one will depend on the market stats. I am not living in that area so cannot say anything on this. Your success will depend on how good you are at market penetration and what are the current gaps between demand and supply. So calculate those factors first and then proceed.

Hello Sir, I want to open my own retail drug store. Could you please tell me what will be the overall cost and how to start it? I have my own Location and also I have 17 years experience as a Medical supplier. Could you Please Help me?

If you are into a city like Gurugram then you will need Rs 20-30lakh to start at a decent scale.

Sir, I am thinking to open a generic medicines wholesale dealership. I have 15 years of experience in Pharma companies. Where will I get the address of generic medicines manufacturing company?

Google the name of the company, then visit the official website of that company and you can see the address and other contact details from there.

Hello sir. My Name is Nishikant Gupta from Sagar (MP). I have completed B.pharma. How can I get a franchise of pharmaceutical company? Because in my city there is no pharmaceutical company. That’s why most of the pharma students go to another place for the job. And sir any other business like the contract of packaging or repackaging of their pharmaceutical products. So please sir guide me how to get the franchise of branded pharmaceutical company. Thank you

You need to pay the money to buy the franchise of any particular brand. Contact them and ask for the complete procedure. They will tell you about space required, availability of location, fees, the margin on profit, etc.

Sir, Can I start a wholesale business with 7lac investment?

In a developed/ developing region, No. In the underdeveloped region, Yes.

Hi sir, I have completed Ph.D. medical pharmacology. So am I eligible to get a license for the wholesale agency and what would be the budget to start? I have my own property.

Yes, you are eligible. Budget depends on the location so cannot say anything on that.

Hi sir I Am planning to be a stockist, my concern is which medicines brand will have better sales, which brands need to be ordered from the companies retailers, requirements etc.. How can I get information?

Contact nearby doctors and ask them to sell your brands or order those brands which they recommend.

Hi sir, my mother is a registered pharmacist. Can I start this wholesale business with her license?

Yes, you can start. Make her the main business owner to avoid any kind of future problems like rule change.

Sir, I have done bachelor of pharmacy in the year 2018. I committed to start a medical business at Vizag, Andhra Pradesh as it is my hometown. How much capital should I need to start the business?

I want to start medicine stockist point. I have 4 lakhs rupees. Can I start stockist point with this amount?

I want to start medicine wholesale business in Bareilly which is a two-tier city.

I am running medical stores from the last one year as a proprietor and recruited Pharmacist. Recently, I get my Bpharmacy Certificate and wants to apply PCI. Can I get the license as a Pharmacist cum proprietor with the existing license? What I need to do. And at the same time, Pharmacist wants to establish her own firm.

Hi Ferdose, I am not the right person to tell you these details. You should consult CA for the same.

I want a medicine wholesale license in Rifle Happy Valley, Assam or near it in Shillong

Consult CA who is working in that area.

Hello sir, I am a surgical distributor with a management masters degree. I am selling nondrug items for a year but I just came to know that my one item will be going under the drug category. I have a very small business, what can I do now?

Please consult your CA for this.

Please contact me. I want to start a new business in pharma.

Hello Sir, I’m planning to start a franchise distribution in Bangalore just needed to know how much budget will be required and what all licences should I have? I’m a pharma graduate.

Sir, This is Satya Seelam. from Hyderabad, I have B.Tech (computers) degree, I am planning to start a medical distribution company. Is it possible?

I want to start pharma distributorship in dist. of Sirohi Rajasthan. I have 10 years experience in the retail sector and I have also experience certificate of 10 years, so can I start this firm? And how much budget is required for this location? I have no budget so I have to apply for a loan. So tell me what can I do?

If you do not have required medical documents which have been mentioned in the article then you cannot start.

Hello sir, I have a pharmacy retail shop but I also want to start a wholesale with my retail work. Could I start that wholesale work with the same shop that I have or will I need another store/godown?

If current space is big enough then you can use same place else you need to take another space. You also need to do some paperwork for wholesale approval.

Hello Sir, I am already running a wholesale. Can I export my product(medicine) from India? What is the procedure?

India is the biggest exporter of medicine so there is no doubt that you too can export. To start with, first, find out who will buy from you and then take medicine export license and proceed.

Hello Sir, currently I’m preparing for MBBS and I want to open a medicine company in New Delhi. I’m 18 right now and doesn’t have any idea about business. Can you help? And can you suggest some websites or something to learn more about business?

I appreciate your passion but if you want to start a business in medicine then first focus on your studies as currently, you don’t have field knowledge. Either study chemicals or MMBS that is completely your choice. Don’t stick to any specific website or person, grasp diversified knowledge to be a great founder.

PS- Miracles never happen in 1 or 2 years, they took years of preparations, they just became visible in last 1 to 2 years which make a lot of confusion in normal people’s mind.

Hello sir, I want to start a wholesale pharmacy, I read your article and click on form 19 link but the site is down from 3 days. Please give me the form 19 format.

I don’t have it as of now, please talk to a local lawyer or CA, they will give it to you. As ultimately you have to ask so many things and going to need them in the later stage, why not to approach them initially. And if you will talk to them tactfully (behaving as a good prospect) then they won’t charge you for the form 🙂 Alternatively, you can wait for that website to load.

Sir, I have completed B.Tech and now I want to do my own business as medicine wholesaler can I do that? Can I get the license? Can you please help me?

Hey Sir, I have done masters in pharmacy, but rather than perusing teaching I am more interested in trading business. would like to know how to start the trading business of pharmaceutical products.

Hello sir, Is retail store good or wholesale as I have B.Pharm degree?

If you have a good budget and network then go for wholesale otherwise for a retail store.

Hello sir, I want to start a wholesale agency of surgical products, how much investment will I need to start it? Can I start it along with my government job?

You cannot register any business on your name while having a government job.

I am M.pharma and FDA technical approved person in injectables with 9 years experience in the pharma sector. I want to start pharma distribution-ship. Please guide me how much investment is required to start the same in Navi Mumbai.

I am not sure about real estate rentals of Navi Mumbai, if they are equal to Gurgaon then you can start with 40-70 lakhs depending on the size and exact location of the shop.

Hi Lokesh, Will you kindly provide information regarding agency and their address along with contact details. The agencies that sell medicines of popular brands like Alkem, Abbot, Cipla etc for resale. I own a wholesale business.

Such companies have monopoly business here and they refuse to entertain my orders.

Hi Sushil, I won’t be able to help you in this because being an outsider I don’t know your field in that detail. But I would say go to companies (Cipla, Abbot etc) directly. These days many companies are are entertaining wholesalers directly instead of involving agencies in between. They might ask for bigger targets which you can manage by stretching yourself a bit and rest negotiating as per your resources.

I have a godown space and want to utilize it for medicine. I don’t have any pharma related experience or degree. Please suggest me how to start up.

How to open surgical items bushiness in low investment?

I am a medicine wholesaler. From where can I purchase the ethical brand at a very low price?

In private sector quality and the very low price doesn’t come together, it’s a myth. The max you can do is ask for a target to get a low price.

Hello sir, I want to start a medical shop. My wife had medical shop license but how much investment required for the medical shop? I have 5 to 6 lakhs in my hand.

If you want to start in suburban areas or in a village then Rs 5-6lakhs is enough to start. But if you want to start in a city then you will need around Rs15-25lakhs. You can even apply for govt loans for some extra funds if you want.

Hello Sir, I am looking to start a wholesale distribution for hormonal injectables mainly used for the IVF procedures. what shall be the license required for the same. Do I have to take an additional license for this?

I want to be a distributor/ authorized dealer of only cold chain medicine like onco inj. high priced injections or vaccines. Please guide me accordingly, what are the fundamental requirements?

I wanted to be a distributor/ authorized dealer of only cold chain medicine like onco inj. high priced injections or vaccines. Please guide me accordingly, what are the fundamental requirements?

Hi Sir, I want to know few things about starting a medical wholesale business like 1. Whom should we approach or who will supply the medicines to the wholesale distributor? 2. What are the different levels of distribution in pharma? 3. What would be the budget you suggest to start the business? 4. What is the difference between a franchise and a wholesale distributor? Asking this question as I can see many questions regarding franchise in this blog

Hello sir, I’m a B-Pharma graduate and I’m thinking to start an export business for surgical items, can you please tell me what should I start with. I was thinking to take one month course of export & import to get required knowledge first and then approach manufacturers but I’m afraid will they help or not? Please give your views on this.

You are going in the right direction, buy that course and learn as much as possible. But make sure you are buying the right course, sometimes people buy those courses which look fancy but are extremely poor with the content. PS- Buy from those who instead of motivating you, help in clearing your vision. Here is the link https://course.businessalligators.com/p/business-crux-1-0/

hello sir, I wanted to start medicine distributorship. I have read all your comments, in one of the comment you have suggested to directly contact the companies, but what if they do not give any answer. I have tried to contact them, but they said we have already a distributor, so in that case what we have alternate option to start a distributorship business.

You have two options in this case 1. Ask the company, for which locations they can give distributorship, and if you are comfortable working in those locations then go ahead. 2. Search for companies which are still looking for distributors in your location.

I want Cipla & Sun Pharma distributorship, what is the process? I will definitely achieve their targets. Could anyone tell me?

I want to open up a C& F, can you explain the process involved and the idea of how much capital would be required?

I am from Jabalpur MP, I want to become wholesalers of Cipla, Alkem, Intas, Abbott. But don’t know how to start with these companies’ generics products. Company’s customers care is not supporting for this, Please help.

What is the % between MRP and wholesaler purchase rate (wholesaler trade price)?

It depends on medicine to medicine. No fixed percentage.

Hi, This is a nice post. Given me some insights. I am looking to start a medical/healthcare devices business in my hometown. Here is a list of things which I am thinking of: a. Drug License is compulsory for medical devices business also? b. Where to look about which devices work well in the industry and which not? c. What will be the initial set up the cost? Thanks. Would be nice if you can help me out with this.

I have the degree of m.sc chemistry can I start a medical company.

How many franchises of medicine company can one take at a time?

There is no such limit

I was planning a new business in coalification Bsc. chemistry I started medical agency but I don’t have any information for this business, guide me & presses of medical agency license process and legal document

Your comment is really confusing, please try to explain it again

Hello Sir. Thank you for your article. I am planning to start a distributorship of pharma products in my local town. But I am not aware of the stock I should secure from different pharma companies in order to take my business ahead. Can you please put forward your valuable suggestion on how to do it?

There are few ways by which you can do this 1. Medicine companies will tell you about the estimates 2. Medicine companies will give you a certain figure that you need to sell 3. You can decide yourself depending on the type of disease and incentive on the medicine. 4. Get the idea from your competitors

I cannot tell you any fixed number here, you need to make some estimation. To know more on this kind of estimation you can check my course. Here is the link https://course.businessalligators.com/p/business-crux-1-0/

We have a good setup for the franchise network, and we support with all sorts of medicines, devices franchise setup. Connect with us

I have completed my B.Pharma degree, my city is mid-developed, and I have an excellent network. My father is a doctor, and his network is also outstanding. So can I start a wholesale business in 15 lack rupees?

I am an electrical engineer. I am thinking to enter in a partnership with a friend for a medicine stockist agency in Nashik. Could you please tell me the profit margins, investment needed, and what share of profit should I demand being a sleeping partner?

There is no formula to decide such things; it’s about your mutual understanding.

Sir, I want to start a wholesale medical shop, I have completed MSc from industrial chemistry, and I have one year experience from Tewa API company as a chemist in the quality department and also have 18-month experience in the wholesale medical shop. So can I open a wholesale medical store and what is the process, like the area of the shop and other things? Please tell me the details.

Yeah, you can start this business, and details are already mentioned in the article.

We have a valid drug license, our premises in a premier market complex (Total 1200 sq feet of commercial space), we have all furniture and computer, etc. What is the minimum investment required to stock wholesale medicines to have a decent start in medicine wholesale business in Bhubaneswar? The question is what is the minimum amount of investment required to stock as well as distribute medicines (Including the credit cycles from both the retailer and stockist side).

I have never been to Bhubaneswar, so cannot tell you exact figures. But if you can relate it with Gurgaon/ Delhi then here in similar conditions, you will require approx Rs 40lakhs. So this is the amount which is going to remain either in the market or in the form of medicine stock.

I want to start medicine wholesale.

I want to start a wholesale medicine business in Dhanbad, Jharkhand. I have space near the wholesale medical market here. I have 8 years of experience in medicines, and I have 25 lakhs at present without loan so, kindly advice me and suggest company distributor where I can purchase required medicines.

Which degree is required for starting a medicine wholesale business? Can a commerce graduate having 1-year experience can start this business?

HelloI am a registered pharmacist by the pharmacy council of India in Punjab, Amritsar and I want to start my wholesaler shop. What is the procedure for it and can I start this business with 10 lacs because I have my shop for this business?

I am a pharmaceutical wholesale dealer. Now I want to open my shop branches in other cities. Can I open my branches of the dealership in other cities?

Hello, I want to start an online pharmacy in India. Can you guide me?

Can you please suggest some good generic medicine manufacturers for a fresh wholesale distributor (just 18 months of experience), will the company provide representatives for their medicine?

Hello Sir, I already have a GENERIC MEDICINE DISTRIBUTION BUSINESS IN MUMBAI, & its been working fine from the past 2.5yrs, but m facing 2 issues which I think I should share it with u, maybe with your valuable knowledge & experience I would overcome these obstacles- 1) The issue regarding the PAYMENT RECEIVABLE from the Retailers, usually we provide 30days credit to the retailers against the GENERIC MEDICINES, but as the competition has increased the CREDIT Time also has increased & currently, we are finding it difficult to recover the payments even within 90 days which has become one of the worst parts of GENERIC MEDICINE DISTRIBUTION. 2) Scaling up the BUSINESS, We are searching for options in which we can scale up this business, would kindly request u to guide us on the various options available through which we can expand this type of business. Waiting for your response. Thanking you………

Sir, I would like to start a medical store in and around Kolkata, but I have no previous experience in the said business. As a newcomer in this industry, I would like to seek your solemn guidance regarding the key elements which should be considered at inception for the said startup.

Regards Arnab Das

Money is in the market gap, so do check it in your targeted area before entering into the business.

I want to start a generic medicine business in India. Please help me to start this business.

I have recently started the business. Need help with procurement. Please share contact details, I would like to discuss with you. I have shared my email id.

precious & helpful

Hi! I am a doctor, pursuing MD from Delhi. I read your article, you’re sharing good information and it’s really helpful. But there’s a question coming to my mind that after getting a license and after investing this handsome amount from where will we get the medicines or any drug and at what price? If we have to deal with different companies of drugs then please make an article with the list of all these companies with their contact information. Please let me know ASAP. Thank you

I am Prateek Kashyap from Paonta Sahib Himachal Pradesh distt. Sirmaur. I want to start a wholesale business in Ayurveda. Currently working in pharmaceuticals as an SAP Executive.

Please guide me on how can I start?

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How To Start A Medicine Wholesale Business In India

The pharma sector of India is rapidly growing. Many schemes of the government , including MSME and others, have helped many small businessmen set up their businesses. If you are interested in becoming a drug distributor, continue reading! This article covers the key points you should know before starting a wholesale medicine business.

What Are The Types Of Pharmacy Wholesale Business?

Before you dive into the process of starting your own pharmacy wholesale business in India, it’s important to understand the different types of pharmacy wholesale businesses you can start. Once you’ve successfully operated as a retailer, you can consider expanding your venture into wholesale businesses.

Here are the types:

Specialist Pharmacy : These are wholesale businesses that specialize in various medical fields such as dermatology, oncology, homeopathy, Ayurveda, and more.

Hospital Pharmacy : Partner with a hospital or medical facility to connect with, offer, and advertise medicines.

Chain Pharmacy: Start your own chain of pharmacies in different places across the country.

Township Pharmacy : This pharmacy is part of a specific neighborhood in our town where people know us well and think highly of our services.

Online Pharmacy : Embrace digital technology and collaborate with sellers, customers, and wholesalers on the internet. This type of business is mainly conducted online.

Pet Pharmacy : Sells medicines and supplies for animals.

Types of Wholesale Pharmacies

• Clinical Medical Stores: A clinical medical store can be found within a doctor’s clinic or a large hospital. Whether it’s part of a doctor’s practice or a corporate hospital, it’s considered a private organization. The success of a clinical medical store depends on the overall success of the hospital or the popularity of the doctor.
• Standalone Medical Stores: Standalone medical stores are typically owned by a single individual or a small group. The success of these stores is influenced by factors such as market competition, the store’s location, and its reputation in the community.
• Chain Medical Stores: A chain medical store is an extension of a larger medical organization. The brand’s credibility makes it easier to generate profit, but success still hinges on factors like competition and location.

Getting a Medicine Wholesale Drug Licence

Obtaining a wholesale drug licence to start a medicine wholesale or drug distributor business in India is a necessity for anyone looking to start a pharmaceutical business in the country. The government has strict regulations on how drugs are manufactured, stored, displayed, and sold.

To get a drug licence, you should have a valid Goods and Services Tax (GST) identification number. This is mandatory for anyone conducting business online. You must also provide an affidavit stating that he is a qualified pharmacist and has at least one year of experience.

The application form is available online. You can also apply in person at your state’s drug-control office. Fill out your application and make sure it contains a cover letter, an affidavit of competence, an experience certificate, and all other documents required. These requirements vary from state to state.

Once you submit the application form along with the documents, the CLA will inspect your premises. If they are satisfied with your business setup, they will issue you a license.

The process is governed by the Drugs and Cosmetics Act, 1940. To get a license from the Food Safety and Drug Administration, you need to fill out the necessary forms and submit them to the State Licensing Authority.

The application and licensing for wholesale drug licenses are covered in Schedule C of the Drugs and Cosmetics Act, 1945. The entire licensing process takes about a month for approval, depending on the review by the Drug Inspector and the report sent to the Licensing Authority.

The type of business determines the required forms for the license. For example, a retail chemist shop needs Forms 20 and 21 (Allopathic), while an Ayurvedic chemist shop needs Form 20C. Wholesale licenses require Forms 20B and 21B, and for Schedule X drugs, Form 20G is necessary.

Why You Need a Wholesale Drug License in India

If you want to make, sell, distribute, or store medicines in India, you must have a wholesale drug license. This license is like a permission slip that shows you are allowed to run a legitimate business involved in the manufacturing or distribution of pharmaceuticals. It’s important to note that making drugs without getting registered is against the law in India.

Applying for FSSAI Registration

Getting an FSSAI registratio n is essential for starting a medicine wholesale or drug distributor business in India. Whether it’s your own business or you’re an investor, you need to obtain a licence. It can also help you develop your brand name and grow your customer base.

There are three types of FSSAI licences based on the nature of your business. The fee depends on the type of licence you choose.

Basic FSSAI registration is free for small food businesses. A few documents are needed, including proof of your business location and a PAN card. You also need to provide a list of the food products you’re selling.

The central FSSAI licence is required by FBOs with a turnover of more than 20 crore rupees, as well as food businesses that export or import food products. For food businesses with a turnover of Rs 12 lakh or less, you may apply for the essential FSSAI registration.

In addition to the licence, FSSAI requires you to have a business constitution certificate, as well as utility bills and utility receipts. It is a good idea to get help from a legal service provider to renew your FSSAI registration. This will ensure that you are complying with FSSAI regulations and keeping your business compliant.

Hiring the Staff for Your Business

Once you have procured the necessary licences and permits, you can hire staff for your business. Some of the key positions to fill include:

• Pharmacist: 1-2
• Assistant pharmacist: 2-3
• Sales Executive: 2-3
• Storekeeper: 1
• Helper: 1-2

The salaries will depend on the candidates’ qualifications and experience. You can use online job portals to find the right staff for your business.  

Having a pharma distribution business is an exciting proposition. The pharma industry is one of the fastest-growing industries in the world. It is expected t o grow at a rate of 15% by 2022 .

If you are planning to start a pharma distribution business, you must take into account a few things.

• First, you need a licence
• Second, you must hire staff
• Third, you must research the market
• Finally, you need to have the necessary infrastructure and fixtures to run your business.

The drug department has a set of rules and regulations for launching your distribution business. If you fail to comply with these rules, your registration will be denied. You will also need to pay Goods and Services Tax (GST) on your total turnover.

You may also want to take advantage of MSME registration . This is an MSME loan that is available through a financial institution in India. To apply for this loan, you will need to make a significant cash investment.

SWOT Analysis of a Wholesale Medical Agency Business

Using a SWOT analysis of a wholesale medical agency business can help you determine the strengths and weaknesses of the industry. This is important because it enables you to assess where improvements can be made. Developing a business strategy that will give your company long-term competitive advantages is essential.

In addition to identifying the strengths and weaknesses of the medicine wholesale business, a SWOT analysis will also show you where preemptive measures can be taken to improve the industry. This is because changes in one factor often lead to changes in other factors.

For example, a SWOT analysis of a pharmaceutical distributor could identify the following weaknesses:

• Outdated medical equipment
• Low staff morale
• High-risk business models

In addition to identifying these weaknesses, a SWOT analysis of a company can also help you evaluate the QbD rollout strategy and identify opportunities. For example, if your company has a strong brand portfolio, you can enter new product categories and expand into new markets.

Conclusion 

You must follow these key steps to start a medicine wholesale business in India . The above steps are a general guide on how to start a pharmacy wholesale business. Don’t hesitate to contact your state’s relevant authority for detailed information on the required licences.

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Top 7 Healthcare Business Ideas To Start In India In 2021

If you have any plans to encash this COVID-19 pandemic opportunity, then you have stumbled upon the right page. Here, I am going to share the 7 best healthcare business ideas that you can start in India right now. So, without any further ado, let’s get started-

The current epidemic of the COVID-19 has put a major burden on healthcare practice. It has affected organizations across the globe as most of the people locked down in their homes to avoid the spread of the virus. The global epidemic has also given us countless lessons and insights on how best we can plan for the future.

However, The Covid-19 outbreak encourages innovative opportunities within the healthcare sector. The health care industry is an ever-growing industry and expected to soon become a billion-dollar industry in India. With the current pandemic and increasing health consciousness of the people, it is all set to become one of the most exciting and promising sectors.

Top 7 Best Healthcare Business Ideas To Start In India In 2020

In this article, we have given you a compilation of 7 of the 2020s most valuable healthcare business ideas.

1.� Retail Pharmacy

A small specialty pharmacy business is the fastest and cheapest way to start out in the healthcare industry. This is currently one of the most successful and profitable healthcare business ideas in India. If a person wants to start his own pharmacy shop he or she has to follow the Retail Pharmacy Business Regulations, which guide the collection, inventory, marketing, and storage of the medication.

The most important aspect of this business is the location. Find a location near healthcare clinics and hospitals as that will be the place where you will get the majority of the customers in one place. The best part of the retail pharmacy business is that you don�t have to invest too much money into it. There are many homegrown retail pharmacy chains who are having a presence all over the country. One such example is Med plus which is a Hyderabad based company with 1555 pharmacies across India.

�2. Fitness centers

As a business opportunity it is always better to start with a business that is popular and trending. In today’s world, each one of us has become a fitness conscious. Fitness and work out are the latest buzzwords and people across all age groups are looking for gymnasiums or fitness centers.

You can either take franchisee of a popular fitness chain or can start your own brand. It is very important to do proper research about the location and surrounding places before opening of a gymnasium or fitness center. Remember, the cost of opening a fitness center is not fixed and depends on the equipment and services you want to provide. To get an idea about the setup you can visit any of the branches of Gold�s Gym. It is one of the leading fitness centers with more than 120 branches with pan India presence.

3. Fertility centers

The current lifestyle and stress factor leads to the infertility of many modern couples. There are an increasing number of couples who are getting enrolled in different fertility clinics so that they can conceive. This is one of the most underrated but profitable business opportunities in the field of the healthcare sector.

The best part with Fertility centers is that the fertility treatments are long term so your business venture can soon turn to become a profitable one. Indira IVF is one of the largest and most popular fertility chains in India who along with regular fertility treatments also providing training to healthcare professionals.

4. Home health care company

Home health care companies provide healthcare services from the comfort of home. There are many people who are looking for such services which may include services for elderly people, nurses for sick people, or day and night health assistance services.

The basic advantage of this business is that you can start this business with minimum investment as it is a service-based industry. Also, the profit percentage is very high in this business. Off-late there are many Indian companies who have started venturing into this business. Care at home is one such home health care company based out of Ahmadabad and engaged in proving a wide range of home health care services.

5. Mobile health care

Mobile health care is one of the exciting new forms of healthcare business ideas which is all set to grow big.�Because of the COVID-19, people would like to do most of the things from the comfort of their homes to maintain social distancing. People are increasingly using their phones for different purposes related to healthcare like fixing appointments with doctors, schedule clinical testing or booking physiotherapy sessions, etc.

There are many companies that have started providing such mobile healthcare advice and telemedicine facilities. 1mg is one such mobile application that provides specialized advice from doctors over the phone other than providing home delivery of medicines.

6. Polyclinic

Polyclinic has become one of the growing forms of a healthcare business. Polyclinics are basically one-stop solutions for outdoor patient care needs. People can consult with a doctor, can undergo a clinical test, or can do various health checkups in a polyclinic.

Since everything comes under one umbrella, it becomes really easy for the patients to avail of the treatment. It is also a high return business as it is service-oriented. Apollo clinics are one of the most trusted polyclinic chains with presence across India. You can visit one of their centers to get an idea of the polyclinics and services they provide.

7. Veterinary Clinics

A veterinary clinic is yet another lucrative business ideas in the healthcare field. The veterinary clinic is meant for providing healthcare services for animals. A veterinary hospital looks after and treats animals that are ill or diseased.

With the increase in the number of pets, demand for veterinary clinics is all set to grow. In case you are looking for a quick return from a business, you can consider opening a veterinary clinic. Make sure you find a good location for a veterinary clinic with a maximum density of pet owners. Crown Vet is one such veterinary clinic that is providing advanced care services for pets.

Final words

In the current time, healthcare is one of the pressing priorities. COVID-19 has uncovered or strengthened customer perceptions and behavior that can radically change healthcare. We expect established players to change their business innovations and emerging entrepreneurs to introduce new models that will not only increase preparedness for the epidemic but also increase the overall adaptability of healthcare systems.

You can try out the above-mentioned business ideas in case you are looking for a business with a minimum investment with quick returns. Try to visit one of the established players to get a practical idea before venturing out to any of the above-mentioned businesses.

Enjoy reading this? Check out some more topics for you

9 Benefits Of Startup India Program That Indian Businesses Can Avail

Top 11 Upcoming Business Ideas In India For Aspiring Entrepreneurs�

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Generic Pharma Companies List – Looking for the top and best Generic Pharma companies List in India with other important information for Pharma industry visit blog now.

Blog » Pharma information » How to Start a Generic Pharmaceutical Company in India

How to Start a Generic Pharmaceutical Company in India

• Pharma information

How to start a generic pharmaceutical company in India – An ambitious pharma professional always wants to end up having his or her own pharmaceutical company. It is their dream to start project own pharmaceutical company as soon as they can. Most of the pharma professionals could not make it possible because of a lack of knowledge and courage and sometimes due to a lack of money. If you have some experience in the generic medicine field in the beginning then you can possibly give a kick start to your business. But, before that, you should know how much does it cost to start a pharmaceutical company in India or how to start a generic pharmaceutical company in India ?

Besides, we all know how well the pharmaceutical sector in India is expanding. Indian pharmaceutical sector has gained an important and reputed position in the global pharmaceutical market. India has become the biggest supplier or exporter of generic medicines all over the world. So at this point in time, it would be highly beneficial to invest in the generic pharmaceutical business. If you are planning to start a generic pharma company franchise or your own generic pharmaceutical company in India then it would be great to have a look at this given article. Here we are going to discuss how to start a generic pharmaceutical company in India in general terms. Hope you will find the information reliable. 

Table of Contents

Follow Few Simple Steps to Start a Generic Pharmaceutical Company in India

Starting your own pharmaceutical firm could be a wise decision for a career as the healthcare and pharma sectors are showing good growth. The future in this particular market seems quite bright. However, if you are really planning to start a generic pharmaceutical company in India then it would be better to start as early as it can be. There are some simple steps you need to follow to complete the pharma company registration procedure. People who are planning to start a generic pharmaceutical company should definitely read the following pointers.

Make a Business Plan

To start a generic pharmaceutical company you need to compose a detailed business plan. A business plan includes plenty of things such as:

• Choose good premises for your office that contain enough space that specifies the norms issued by govt.
• A unique and meaningful brand name for your company or brands. The brand name should not match with any existing entity so it needs deep research before.
• Available with financial background which is the most important practice for starting any business.

Register Company under Company Act

It is you are starting a PCD franchise business then you may need several important things such as drug license no, GST (goods & services tax) registration, trademark registration, and FSSAI registration. But if you are registering a new business you will also require the discussed registration but there are four major steps that are:

• Acquiring Digital Signature Certificate (DSC)
• Acquiring Director Identification no (DIN)
• Get a new user registration or fill out an eForm
• Incorporation of the company

Acquire Drug License No.

Hence, this business includes selling and manufacturing medicines and pharmaceutical drugs, so this business requires a drug license to run. If you run a company without a registered drug license no. then it can be a punishable offense. To get the complete details about the process of how to obtain the drug license number, you should meet the local drug inspector and drug selling authority.

Get the GST Number

GST is the recent introduction in our country that is needed while doing any business. A generic pharma business needs GST no. within three months if the turnover exceeds 2.5 Million. But, here turnover is not only the reason for GST though. There are many more facets of GST rules & regulations. It would be better if you gathered services and knowledge from the experts.

Few Further things that one would require to start a generic pharmaceutical company

• Get the trademark registered
• Get FSSAI registration

If you want to set up a pharma business then these would be the steps to follow. We hope that we have given the most relevant information regarding how to start a generic pharmaceutical company in India. For further details or to sort any query related to the same you can refer to our official website.

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Explore these healthcare startup ideas in India

According to Firstpost, India’s healthcare industry at present is worth a staggering Rs. 60,860 crore. Further, Invest India, a national agency, estimates that the healthcare sector will grow to a whopping Rs. 27,843 crore by 2022. As a medical professional, the favourable time is a golden opportunity for the health and wellness business ideas you may be nursing. With funding options like Bajaj Finserv Business Loan offering collateral-free financing of up to Rs. 80 lakh, all you need to do is build on your medical business to offer something truly unique in the Indian market.

10 booming healthcare business ideas for 2020

Medical transcription service.

According to a 2018 Financial Express report, the ratio of allopathic government doctors to patients stands at around 1:11,000. While this reflects the dire need for medical professionals, it also highlights doctors excessive workload each day. In such a situation, medical transcription services that provide an alternative to patient-related paperwork come as a welcome solution. The fact that doctors can focus on their surgeries and core duties while making reports of patients by simply creating an audio file is what makes this an attractive health business idea today. Essential services here include proofreading, quality assurance and speedy turnaround times.

Future demand of medical transcriptionists

Medical transcriptionists listen to voice recordings made by doctors, nurses, medical researchers, and other healthcare professionals and then convert them into written documents. However, the recent advances in speech recognition software and text to speech technology are likely to affect the future of medical transcription jobs. One of the best business ideas for healthcare professionals and medical startup could be to tap into these emerging technologies and disrupt the existing industry.

Develop a holistic healthcare app

Among the best and untapped business ideas for healthcare professionals is creating a comprehensive smartphone app. Today, patients have many apps to deal with: one for course reminders, another for checking symptoms and a third to book medicines. However, providing a holistic app is the need of the hour. Ideally, the app should provide information about diseases, facilitate telemedicine via communication with doctors, give patients regular medication reminders and even provide quiz-based services to evaluate mental and emotional health. This comprehensive and non-fragmented approach to personal health will benefit both your business and patients alike.

One of the best future business ideas for the healthcare/ medical industry is to start a website to provide healthcare information and advice. With the growing trend on health consciousness amongst individuals, more people seek quick tips to stay healthy or the uses of medicine. The website can have multi-format content such as blogs, podcasts, infographics, videos, tutorials, etc.

With the awareness and number of lifestyle diseases on the rise, one of India’s top healthcare business ideas is setting up a nutrition clinic. A nutritionist or dietician helps individuals regulate their intake, helping them realise the effects of various foods on their health. The role of a nutritionist goes beyond counselling to avoid harmful foods to aligning the patient’s diet to their metabolism. Nutritionists have an essential role to play, whether it is in weight loss or disease prevention. With more Indians becoming aware of the adverse effects of packaged foods, a nutrition clinic makes for a winning healthcare business idea.

Additional Read: Best trading business ideas

Expecting parents today want to control every aspect of childbirth, which often includes having a midwife or doula present at the birth. As per the American College of Nurse-Midwives, the use of midwives is increasing. Trained healthcare providers and midwives assist pregnant women during childbirth, while a doula is more like a pregnancy coach who helps couples arrange birth aspects and care for the newborn. Maternity services can hence prove to be a good business idea for healthcare professionals.

Whether meeting the needs of a large elderly population or helping one recover from a severe accident, in-home medical services have a big role in contemporary society. Your business can venture into providing skilled physiotherapists to deal with cardiac and post-pregnancy problems or provide round-the-clock nursing services to the sick. Similarly, the services could include simple doctor consultations or extend to providing medical beds as well. What makes this one of the best healthcare startup ideas is that you meet the patients where they are and provide them with an unparalleled degree of convenience.

One of the best healthcare startup ideas could be to start a service for hospitals, clinics, and doctors’ offices to help them manage their medical records. You could assist your clients in identifying the best records management systems, implementing them, and providing their staff with training on how to use their systems. You could alternatively offer full-service medical records management, and clients can outsource the work to you. That would be helpful for boutique practices and sole practitioners, who need the organisation but can’t afford to hire in-house staff.

One of India’s best healthcare business ideas is opening a physical therapy centre and hiring certified therapists to help patients reduce pain, recover from injuries and regain their full range of motion. You could also have occupational therapists provide more specific therapy to help patients perform day-to-day activities such as feeding and dressing.

With air travel getting cheaper and the world becoming more of a global village, international holidays and business trips are common today. However, overseas travel also opens new doors to the healthcare business. From offering remedies to high-altitude sickness, and jet lag to advising customers on essential practices and providing required vaccinations, a travel clinic can be a one-stop-shop for all international sojourners. This pharmacy-related business idea makes great sense if you intend to start your venture in a city that has a large influx of global travellers.

Diabetes has been a growing trend in the last couple of years. One of the medical business ideas can be starting a diabetic care centre where diabetic patients could be provided dialysis, nutrition counselling and other medical services.

Now that you know some of the top ideas and have started a medical business consider funding options. The Bajaj Finserv Business Loan is a solution as it offers unsecured financing up to Rs. 80 lakh coupled with swift processing and speedy disbursal times. Here, you can also avail of the Flexi loan facility, a feature that allows you to pay interest-only EMIs through the tenor and the principal at the end. Opting for this can tip the math in your favour as your instalments get reduced by up to 45%.

To get started, check your pre-approved business loan offer from Bajaj Finserv. You get instant approval via a customised deal by sharing basic details and putting yourself on course to translate your healthcare business ideas into reality.

• Health Information Website
• Advise people on daily nutrition
• Maternity/ Child Birth Center
• Provide In-Home Medical Services
• Medical Records Management
• Physical Therapy Center
• Set up a travel medicine clinic
• Diabetes Care Center

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Steps for Opening a Medical Lab Business in India

1) location.

The first thing to think about is a well-connected and reputable place. Visit the city, and then narrow down some possible spots. Find out information regarding the area from locals, the internet and other sources. Gather information about access from various parts of the city, hospitals nearby, the type of residents living close by, transportation facility, etc.

The location for the medical business plan should have enough space to store instruments, seating arrangements for patients and future changes to the infrastructure. We’d recommend choosing a space with air conditioning and less crowd.

There must be a clean environment to shield the samples from contamination and protect patients from infections. Always seek out a lab located on the ground floor to ensure the convenience of pregnant women, older people, those with disabilities, etc.

The ideal location can affect your business’s prospects significantly. If you do not meet any of the mentioned issues, patients may choose an alternative medical laboratory. There is huge competition in the market, so it is essential to be distinctive and comprehensive to stand out in your laboratory plan.

Also Read:  Requirements for a Medical Equipment Loan

2) Investment

Investment is among the most important factors to consider for your medical laboratory in India. It is necessary to invest at various levels and for various reasons, and we can understand the costs through the following tips.

• Rent or purchase the space used for your medical laboratory.
• There will be a need for machinery, maintenance and repairs. It will require a significant capital investment.
• The lab needs software to test results, functional and other functions. It needs money to buy a subscription.
• Utility bills such as electricity, broadband connection, water, etc.
• You’ll need staff to manage the lab, your patients, your schedule, etc. The payment of staff is another expenditure.

3) Infrastructure

The lab’s setup should give importance to the lab’s infrastructure as this will help the staff be more efficient and without disruption. Inform the patients about the accessibility of different services offered by the laboratory. There must be a well-planned layout for the various rooms and treatment areas to ensure that the activities that every department plans are carried out without a hitch.

Clean bathrooms, wheelchairs, lift services, and many other basic elements of a health facility should also be available within the medical laboratory plan. In addition, you must maintain hygiene at a high level. Because the field is linked to medical procedures, any slight discord from the norm could cause serious issues for personnel working in the area or patients.

4) Licencing and Certification

It is important as, unlike other industries that deal with health, the medical lab business is about people’s lives and requires proper authorisation from the hospitals and government. You can refer to the following list of the necessary documents and requirements to be able to open a medical laboratory.

List of necessary licences and certifications

• Accreditation through Good Clinical Practices (GCP)
• A licence that the National Accreditation Board issues for Testing and Calibration Laboratories. (NABL)
• The registration is required with the Shops and Establishments Act.
• Registration with Clinical Establishment Act.
• Registration of biomedical waste disposal authority.
• Approval from the board responsible for pollution control.
• NOC from the city corporation and the fire department.

The minimum space required is something that accommodates 100 patients and their attendants. Patients shouldn’t be forced to sit in a crowded space or a crowded environment because of insufficient space. You must pay the greatest attention to space so that the infrastructure can also be efficient. Space planning is crucial to ensure that everything is properly positioned to attain success in your medical business plan. Please don’t use a revolving door between departments of different activities as they could hurt the patients.

6) Tools and Equipment

Tools and equipment are the heart of the medical business. You require them for reporting, scheduling, diagnosis and major operation requirements. A trusted and accredited supplier must supply the equipment you choose to use. Check that your equipment is compatible to be updated with the latest technology and is easy to use.

You must keep all modern equipment and software to be able to serve more patients with different diagnoses. Contact medical and hospitals and request that they recommend your lab for their clients.

The people chosen to work in the lab need to meet the standard requirements for the respective designations. The process of acquiring them must be long, requiring screening rounds to ensure that the personnel selected can tackle the complicated issues that arise in medical practice. 

The technicians in the lab should be assigned to ensure that they have a full understanding of the equipment in the laboratory. They must be given instruction and training in the first phases of their appointment. It will lessen the chances of making mistakes and help them adapt to the laboratory processes. Employees’ salary counting can be hard as you’ll have to do many calculations. However, an online salary calculator proves to be a time-saving solution.

Also Read:  Guide to a Setting Up a Pharmacy Store and Affordable Medicine Store Franchise

8) Marketing and Branding

Marketing for a successful medicine business plan is as important as the other steps listed above. If a business is not visible, it will not last long, which is the reality of business. Particularly for medical labs businesses in India , you must create a unique marketing strategy to keep ahead of the rivals.

A perfect marketing strategy is a blend of traditional and online marketing in today’s scenario. Traditional marketing is roadshow promotional events at malls, housing societies, shopping complexes, etc. Digital marketing involves promoting online platforms via social media channels and search engines.

Create your marketing strategy effectively to be first when someone is searching for the medical lab near me on the web. You’ll have to do Google My Business optimisation to make that happen. Learn from medical journals to know your target market and their requirements for putting together an effective marketing strategy.

Your promotions should help the customers you want to attract to your services for their diagnosis needs and remain loyal to your company.

9) Software Tools

It’s a fantastic help if you could perform the tasks of your laboratory in a computerised manner. It will eliminate any discrepancies in results and is an efficient way to save time. Updating each patient’s record with results, sending them reminders and having an accurate record of patients’ medical history will be achievable with powerful software and a knowledgeable team in this field.

In addition to providing patients through software, it is also necessary for these tools to support the laboratory work. Diagnostics will require effective technology and programming to produce the desired results.

A medical lab business is undoubtedly very profitable, and you can even generate tremendous income in the initial lab setup days if you offer in-demand tests within your locality. We’ve provided all vital tips to start a medical lab business.

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How To Start A Pharmaceutical Manufacturing Company In India?

Table of Contents:

1. How To Start A Pharmaceutical Company?

2. starting a pharmaceutical company, 3. how to start a pharmaceutical manufacturing company, faqs on starting a pharmaceutical company.

The pharmaceutical industry is one of the fastest-growing industries in the country. India is the third-largest generic drugs manufacturer in the world. Usually, these generic drugs account for 72% of the total production of drugs worldwide. The pandemic that hit the entire world in 2020 proved to be an eye-opener for the country to have inbound manufacturing facilities. Reliance on other countries for drugs and essential medicines is not a good idea, especially in times of hardship. The next decade is going to be a game-changer for the healthcare sector. Preventive healthcare is a top priority in the country, along with export-oriented businesses.

There are different manufacturing companies in this sector, such as branded manufacturers, OTC manufacturers, generic pharma, export-oriented, import-oriented, derma products manufacturers, and pharma distribution and supply companies.

Especially since the pandemic, people are becoming more health-conscious and are constantly looking for ways to adopt preventive health care in their lifestyles. With exports being curbed, the Government of India started promoting the Make in India Movement more vigorously than before. The government is helping business owners who are willing to start manufacturing units across sectors through various subsidies. Small-scale manufacturing business ideas are encouraged and promoted by providing support and facilitating capital and infrastructure.

If you are a business owner or an entrepreneur who plans on starting a pharmaceutical manufacturing plant, this article can help you get started on these plans.

Starting a manufacturing unit in the pharmaceutical sector involves setting up production, processing, packaging, storage, and logistics units. It is very important to have a strong understanding of the pharmaceutical sector to start and survive in this business.

1. Diligent market research

When starting a third-party pharma manufacturing company or a small-scale business, conducting thorough market research is very important. Understand the working of the healthcare and the pharmaceutical sector in India and its performance in recent years. Analyse the different kinds of players that exist in this sector. Decide on what kind of manufacturer you would like to be; a branded pharma company, over-the-counter drug business, generic pharma, export-oriented business, etc. There are many categories and sub-segments that you can explore. Additionally, you can explore options like Ayurvedic medicines, allopathy, homeopathy, Siddha, and Unani, and decide which one works for you and interests you. Conducting a benchmarking study and market research will guide you in the right direction when you start the business.

2. Understand the competition

Understanding your competitors is as important as setting up your business. Analyse the market and understand what your competitor’s product offerings are and their business models. Jot down the best practices of the industry to help you run your business better. Analyse how your competitors perform at each step of the value chain and how you can enter and capture a significant chunk of the market for yourself.

3. Develop a business plan

Once you have done your research and competitor analysis, it is critical to prepare a detailed business plan covering all aspects of setting up a medicine manufacturing company. The most important thing, to begin with, is the capital required to start the business. Although drug manufacturing is a capital-intensive business, you can begin small. Like every business, you will have fixed and operating expenses.

You can plan to either own or outsource your manufacturing unit. There are certain rules and regulations which have to be adhered to before setting up the manufacturing unit. For this, it is necessary to have permission certificates and validation from the respective state departments. Setting up and launching a small business can cost you up to Rs. 5 to 10 lacs depending upon the size and complexity of the business. It is very important to have your financial plan ready for at least the next five years, along with the business strategy. Hire consultants who can help develop a detailed business plan and growth strategy for the next five years.

4. Licensing & registration

Licensing is one of the crucial steps to focus on while setting up a pharmaceutical unit. This is one sector that is extremely sensitive and impacts people's lives. Therefore there is a huge responsibility on the part of the manufacturer. The number and type of licenses and registrations depend on the location of the plant and the type of business entity you are planning to register.

The common types of documentation you will need are drug manufacturing and distribution license, license for laboratory testing, NOC documents from respective departments, GST registration, and company registration. You will also need NOC and permissions from the State Pollution Control Board. If applicable, you might also need to apply for a clearance from the Drugs Controller General of India.

Opting to register your business under Micro, Small & Medium Enterprises (MSME) registration unlocks several benefits. It is advisable for budding entrepreneurs to opt for a provisional certificate. There are many benefits, exemptions, and opportunities available to you if you are an MSME player.

5. Set up the machinery & the plant

From the production of the drugs to when it reaches the customers, the entire supply chain needs different types of tools and products. To manufacture these drugs, you will need high-speed mixing machines, capsule and powder filling machines, loading and capping units, air compressors and filtration machines, and other equipment.

Another important aspect of setting up a plant is having qualified technicians who have deeper domain knowledge and understand the medicine manufacturing process. You will need to hire resources specifically for these processes to ensure quality control and assurance. The technicians and the other staff have to align with Good Manufacturing Process (GMP) norms.

The pharma and healthcare sector is a major contributor to the Indian economy and is growing very rapidly. This is one sector where demand always exists, and the sensitivity is high. People are becoming more aware of the importance of preventive healthcare, and a significant chunk of the population is moving towards allopathy. With the pandemic making it more evident, the pharma business is one of the most profitable manufacturing businesses to start . According to a recent economic survey, the pharmaceutical sector is expected to grow 300% in the next ten years.

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Q. What are the important steps in getting a manufacturing license needed to set up a pharma manufacturing plant?

Ans. The government has simplified the process for business owners contributing to the Make in India Movement. If you are starting a pharmaceutical manufacturing unit, you need to follow the Drugs And Cosmetics Act, 1940 and fill in the required details. Once you submit this, you will need to submit the verified blueprint of your layout and pay the fees. You might also need to fill different types of forms based on the drugs you plan to manufacture.

Q. How do you register your medical manufacturing company?

Ans. Once you decide on the type of manufacturing unit and the business category, you will have to register your company under the Companies Act, 2013. If you plan to set up a partnership firm, you will have to register under the Partnership Act, 1932 as a Limited Liability Partnership (LLP) Company. If you are a small business owner, you could register as an MSME to avail various benefits.

Q. What are advanced manufacturing technologies?

Ans. Advanced manufacturing technologies are those technologies that improve the output and efficiency of the manufacturing processes. They bring innovation, speed, and precision to the system. Some advanced manufacturing technologies include robotics, 3D printing, artificial intelligence, machine learning, cloud computing, and more. These technologies not only improve the efficiency of the systems but also help the business cut down costs and improve profitability in the long term. From a broader perspective, these technologies act as catalysts that boost the economic growth of the country.

Sukanya Mukherjee

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Best 12 Healthcare Business Ideas in India for 2024

Are you looking for small business ideas opportunities in healthcare in India? Healthcare is now recognized as one of India’s largest sectors – both in respect of revenue and employment. The healthcare industry in India circles around hospitals, medical devices, clinical trials, outsourcing, telemedicine, medical tourism, health insurance, and medical equipment.

The strength of the healthcare industry in India lies in its large pool of well-trained medical professionals. Also, India’s cost advantage compared to other countries is significant – the cost of surgery in India is one-tenth of that in the US or Western Europe.

Read:  Low Investment Business Ideas that Ensure High Profit in India

Healthcare Franchise Opportunities in India are bound to grow in the coming days. Healthcare delivery, which includes hospitals, nursing homes, diagnostics centers, and pharmaceuticals constitutes 65 percent of the overall market.

India requires 600,000 to 700,000 additional beds over the next five to six years, which potentially throws an opportunity of more than US$ 25-30 billion. While the existing hospitals would look at expanding their capabilities, a lot of new properties would also come up.

List of12 Healthcare Business Ideas in India

1. diagnostic center.

There is a huge demand for diagnostic centers in India. Considering the high population in the country, there is much shortage of proper diagnostic centers in this part of the world. However, starting a diagnostic center of your own requires a good amount of research and planning. You can also consider franchise opportunities from reputed companies like Thyrocare, SRL Diagnostics, and Suraksha.

2. Ayurvedic, Herbal & Organic Products

The demand for Ayurvedic, herbal, and organic products is growing and industry experts project good growth potential in this sector. If you have a formal education in this industry, you can consider starting this business. You can also consider franchise opportunities from brands like Shahnaz Husain, Patanjali, etc.

Read:   How To Start Patanjali Products Franchise Business in India

3. Polyclinic

Polyclinics or specialty clinics are growing fast in India. These clinics are in demand almost everywhere. If you have experience in this field and investment, starting a polyclinic with proper planning will surely make good returns. You can also consider franchise opportunities from companies like Apollo Clinic,

4. Pathological Labs

Pathological labs are another business that is in good demand in almost all areas of India. If you have experience in this field and have a passion for starting a business venture, you can go ahead with the idea. You can also think of buying franchise opportunities like Dr. Lal PathLabs, and Dr. Reddy’s Path Labs.

5. Pharmacies/ Medical Shop

A pharmacy or Medical Shop is an inflation-free business. If you have a good retail space with good footfall, consider starting this business seriously. You can also consider franchise opportunities like MedPlus, MedZone, etc.

6. Gyms and Fitness Centres

People, especially in metro cities and towns, are increasingly becoming fitness conscious in India. Starting, therefore, a gym or fitness center is a good business proposition. You can also try franchise opportunities provided by brands like Gold’s Gym, Anytime Fitness, Vivafit, Talwalkars Gym, etc.

7. Nursing Homes/ Hospitals

If you have money to invest and a passion for the healthcare business, think seriously about starting a nursing home or hospital. This is one business that will always give you good margins if planned properly. You can also check Max Healthcare for a franchise partnership.

8. Eye Clinic

If you want to start your own eye clinic business, the first decision you need to make is whether you should buy into an established business or start your own from scratch. If you are an ophthalmology practitioner, starting your own clinic can be a good choice. Else, you can think of buying a franchise of a reputed brand.

9. Yoga Studio

Do you want to turn your passion for yoga into a business venture? Starting a Yoga studio business can be a profitable proposition. You can also consider partnering with established yoga studios.

10. Medical Equipment Store

All professionals attached to the medical industry, need specific supplies to carry out their services. You can start a medical equipment store if you have the necessary expertise. You can also tie up as a franchise with companies like Microsidd.

11. Transcription Services

This healthcare-related service is a highly-paid job nowadays. The job of a medical transcriptionist is all about converting audio recordings of doctors and physicians into text format. The scope for this business is getting wide as more and more customers are exploring online for their medical needs.

12. Diabetes Clinic

In India, diabetes is growing like never before. There is a huge growth in customers that are looking for diabetes care in the country. As a result, it is observed the number of diabetes management centers is increasing in huge numbers. In fact, a diabetes clinic is one of the most profitable and popular medical business ideas that have a bright future in India.

Rupak Chakrabarty

Rupak is the founder of MUVSI. He is a small business consultant by profession. His mission is to make people know how to make money and understand personal finance for a better living.

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11 Innovative Healthcare Business Ideas for Startups and Aspiring Entrepreneurs

Top 11 Healthcare Business Ideas for Startups with Real-World Examples

1. online pharmacy, 2. vr and metaverse apps for mental health, 3. medical records administration, 4. telehealth apps, 5. drug rehabilitation facility, 6. nurturing health awareness, 7. alternative medical services, 8. medical tourism, 9. surgical scrubs and uniforms, 10. home healthcare facility, 11. medical transcription, expand your healthcare business ideas with appinventiv.

The healthcare sector is growing exponentially and is anticipated to reach the trillion-dollar threshold soon. According to Grand View Research , the global smart healthcare market was valued at $144.9 billion in 2022 and is estimated to grow at a CAGR of 11.3% from 2023 to 2030.

With the aftereffect of the global pandemic and rising public awareness about health issues, the healthcare sector is emerging as one of the most lucrative industries in the world. In addition, with a report from Centers for Medicare & Medicaid Services indicating that the annual growth in national health spending in the US will amount to $6.8 trillion by 2030, the moment is now to explore healthcare business ideas and establish a successful startup.

In case you are looking for a lucrative medical startup idea to tap into the growing market potential, here is a comprehensive guide on the top 12 healthcare startup business models that will help you narrow down the direction you should walk. Let’s dive in.

As a startup founder, ensuring that your company will be successful and profitable is your primary concern. Finding lucrative healthcare business ideas in 2023 that correspond to the needs of patients and address their issues can be a surefire strategy to capitalize on the health industry.

There are numerous business prospects for an aspiring entrepreneur looking to launch a medical venture or a healthcare mobile app , including medical billing services, medical transcription services, medical records management, etc. Let us explore the top 11 medical field business ideas you could consider.

In the era of rapid digital advancement, the convenience of online shopping is garnering widespread attention, and healthcare is no exception. Therefore, exploring innovative ideas for the healthcare business like online pharmacy can be an extremely promising prospect in the current epoch.

An online pharmacy that offers a seamless ordering process for prescribed medications and over-the-counter products can be a game-changer. Coupled with the power of AI-driven reminders for medication schedules and virtual consultations, ePharmacies can bridge the gap between patients and professionals, ensuring the accessible and timely delivery of medicines, medical supplies, and pharmaceutical services.

PharmEasy, an online pharmacy, has set a benchmark for accessible healthcare by offering online delivery of prescription medications, an extensive range of over-the-counter products, and virtual pharmacist consultations.

In today’s fast-paced and stress-filled scenario, mental health is garnering global attention. Thus, building a mental health app using metaverse and VR can be one of the most profitable healthcare business ideas for aspiring entrepreneurs. A VR and metaverse app, Innerworld, enables users to access peer-led mental health support as anonymous avatars.

Even if the efficacy of Innerworld is still being studied, so far, most therapeutic uses of VR have centered on conditions like arachnophobia, claustrophobia, anxiety, sleep disturbances, chronic pain, and post-traumatic stress disorder .

Amelia, formerly Psious VR, is a Virtual Reality software that leverages this next-gen technology for mental therapy. Amelia leverages VR to provide immersive treatment for individuals dealing with various anxiety disorders, phobias, and stress-related conditions.

Hospitals have to deal with too many records and documents on a daily basis to manage their operational processes. And medical care facilities often struggle to handle their medical records effectively, whether small clinics or large hospitals. Therefore, you can explore a medical business idea to manage medical records. You can take two approaches to remove their barriers:

• Developing an electronic health record (EHR) system for maintaining medical inventory and training medical personnel on how to operate it.
• Starting a records management (digital preservation) business, offering services to global clinics and medical professionals.

You may even go one step further and assist patients in finding their physicians by developing an Electronic medical records (EMR) system. The level of care services will improve if records are managed properly.

Also Read: EMR Vs EHR Development – What Should you Choose for your Healthcare Business?

Particle Health is a recent health tech startup that offers a web-based platform where users may keep their health and medical information. Through the platform, the users can manage and access the records and share them with healthcare professionals.

Similarly, Health-e-People, is an application that our team created for users to save and track all the data from their mobile, discover medical carers for their friends and family, and interact with others who are creating a network within the global healthcare industry.

Since the COVID-19 pandemic hit the world and created an age of global lockdown, telehealth services have become the new normal. Now, while many medical units have returned to seeing patients in person, a huge part of the US population continues to use telehealth services. It is where telehealth software solutions emerge as one of the most lucrative digital healthcare startup ideas.

You can build a comprehensive telehealth solution for hospitals and medical professionals to monitor, diagnose and treat patients virtually via electronic information and telecommunications technologies. A medical software solution or application that enables caregivers and patients to ease and enhance their healthcare experiences is always welcome in the market and has a wider scope to gain momentous traction in the future.

Teladoc, a multifunctional platform, is a good example of a telehealth solution that focuses on treating non-emergency situations, such as pink eye, sinus, flu, infections, and other health issues. The platform has more than 3000 healthcare professionals offering medical services.

Also Read: How Much Does Telemedicine App Development Cost ?

Today, there is a narcotic plague in society – drug addiction. Drug use in our community has risen to the level of a national catastrophe. According to the UNODC World Drug Report , there will be an 11% hike in the number of people who will use drugs globally by 2030. It presents a greater need than ever to establish reputable drug rehabilitation facilities where the sufferers can receive therapy for their addictions and restore the quality of their lives.

Thus, opening a drug rehab facility can be a great medical business idea that would address the needs of society and benefit everyone, much like the idea of home care. You can implement solutions to support folks battling with drug and alcohol abuse helping them achieve sobriety.

To assist individuals with drug addiction, you can focus on particular patient populations, such as young children or older adults. It might be an inclusive business concept if you have access to significant monetary resources and wish to benefit the wider populace. For the successful operation of your facility, you may consider developing some technology-advanced solutions to track and monitor patients’ progress and provide personalized care. Alternatively, you can develop an AI healthcare startup or software to provide remote care to pre-existing rehab facilities.

For instance, inRecovery is a comprehensive platform for drug treatment. By using inRecovery’s addiction recovery platform, treatment facilities can care for their patients without adding a burden on qualified resources. The inRecovery team helps treatment centers give a more engaging and individualized experience. By recognizing and rewarding desired behavior and emphasizing small daily accomplishments toward long-term improvement, they help patients feel empowered.

Nowadays, users such as medical professionals, health coaches, physicians, and dieticians are interested in learning about the medical system more than ever. They desire an understanding of their situation far more than a solution. Understanding medical technology is challenging. It is hard for those who have not attended med school to know how complex and difficult their situation is.

Therefore, building a website or application with health information and starting a blog to create health awareness can also be added to the list of best healthcare business ideas. You can expand your horizons by crafting an AI language model like ChatGPT that will propel your medical blogging business to greater heights.

To monetize your blogging website, you can create awareness through social media platforms, display ads, post commercials, go for sponsorships, affiliate with big brands, and/or opt for other monetization strategies to establish a million-dollar business.

A prime example of this medical startup idea is WebMD, which serves as a beacon of accurate and current medical information, satisfying the need of curious individuals with reliable health information and updates.

Some alternative healthcare startup ideas that are growing in popularity are homeopathy, acupuncture, and massage therapy. Many individuals are adopting these offerings either as a quality improvement idea in primary care or as a supplement to more conventional medical care.

According to Grand View Research , the market for complementary and alternative medicine is projected to develop at a compound annual growth rate of 22.03% from 2021 to 2028. People are more inclined than ever to pay for these types of therapies even when healthcare policies do not reimburse them.

Businesses that offer alternative healthcare to patients offer them chiropractic medicine, magnetic field therapy, acupuncture, and energy therapies. If you have the knowledge and credentials to operate in one or more of these fields, you might establish your own independent company. You can also employ experts to work at a center or provide mobile services if you desire to establish a bigger business.

Allen Laboratories Ltd is an alternative medicine company. It is the leading manufacturer and distributor of global alternative health, naturopathic, and homeopathic medications and is widely popular.

Medical tourism is one of the most profitable healthcare startup ideas. Medical tourism services. It can help individuals who need to travel across national and international borders for medical treatment. Entrepreneurs should research and find high-quality medical facilities in different nations and build partnerships to offer global healthcare services at subsidized rates to succeed in this medical startup idea.

Medical tourism apps such as TravelDoc, GetTreated, GapDoc, Medigo, and GloboMD are some of the most prominent names working toward medical tourism.

Scrubs, robes, shoes, and other medical uniforms are an intangible part of the healthcare industry. Medical professionals who wear scrubs or any such uniforms always look for comfortable and stylish options, which are not easy to find. Hence, selling medical professionals’ uniforms could be a unique approach to delve into the healthcare sector while also serving those who serve us.

You can start an online store and create an inventory of stylish scrubs, shoes, lab coats, and other gear for medical professionals. You can design the goods yourself or source them from different places. The fabric can be strengthened and made less abrasive.

FIGS, an American clothing company, makes scrubs and other medical gear with a strong focus on aesthetics, fabric, material, composition, and comfort for medical professionals. So, when a doctor reports to work, they have the choice of wearing scrubs and uniforms.

A home healthcare facility is one of the great online medical business ideas. It offers in-home medical assistance to patients recently discharged from a hospital, struggling with chronic medical conditions or requiring help maintaining their wellbeing.

It may be advantageous to the entire community where the population is rapidly aging and require support to manage the hardships of aging. Therefore, pursuing the field of home healthcare can be a great move.

HCAH, a leading out-of-hospital care partner, provides in-home care from medical specialists like nursing staff, therapists, lab techs, and chemists. Services include post-op and senior care, in-home hospital care, and physical therapy treatment.

Healthcare transcriptionists play a critical role in converting voice messages from physicians and medical practitioners for patient records. With evolving technology, you can consider developing an AI voice generator app like Speechify . building an AI voice generator app will add a new dimension to the transcription landscape, offering greater accuracy and convenience. Work remotely, set your schedule, and be part of the digital revolution in healthcare documentation.

As the medical field continues to expand, now is the best opportunity for passionate entrepreneurs to explore various startup ideas in healthcare and choose a viable business model. However, before you choose your healthcare niche business ideas, be certain to conduct a thorough market analysis and research the statutes, permits, expert training standards, and other essential credentials.

Irrespective of the online healthcare business ideas you choose, don’t hesitate to hire healthcare software development services from a trusted tech partner like Appinventiv. Being an ISO-certified leading IT consulting services company, w e have a proven track record of creating 250+ custom healthcare solutions for our global clients, helping them raise 300M+ funding.

Whether you need a new application to set up your medical startup idea or want to upgrade the existing one, our experts can help you convert your vision into reality.

For instance, we built an innovative digital platform, Soniphi , that utilizes frequency-based personal wellness technology. By harnessing vocal data, it creates detailed well-being analysis reports, providing profound insights into patients’ health and vitality.

Our experts have created another healthcare platform, Shifacare that allows users to interact with an endless number of highly skilled healthcare professionals to diagnose and treat patients from anywhere around the globe.

If you have any similar healthcare business ideas and want to establish a successful business, contact us now.

Q. How to start a healthcare startup?

A. The percentage of patients with chronic and degenerative ailments is on the rise, and the current medical infrastructure is insufficient to cater to these increasing illness needs. Being a passionate entrepreneur, you can seize the opportunity presented by this problem and explore startup ideas in healthcare.

When setting up a startup in the health industry, you need to consider a few specifics, such as finding the proper collaborators, knowing the industry regulations, and researching the target audience. In addition, you should be conscious of the standards in order to launch a successful startup. Finally, you need to partner with a trusted technology company to develop healthcare solutions.

Q. What are some promising healthcare startup ideas?

A. There are many promising business ideas in the healthcare industry. You can open a small venture, a moderate firm, or a large business in the healthcare sector by following one of the many healthcare business ideas, such as medical business services, online pharmacies, healthcare record management, transcribing services, mobile apps , and much more. Please, refer to the above article for more details.

Q. How can I grow my healthcare business?

A. If you are a medical startup looking forward to building your brand and bringing in potential customers, here are five simple, low-cost, and best future business ideas for healthcare.

Step 1: Develop your reputation through ratings and reviews.

Step 2: Build your online presence through social media.

Step 3: Leverage an emerging technology like blockchain , IoT, or AI in healthcare .

Step 4: Produce compelling SEO content.

Step 5: Meet requirements and resolve challenging issues.

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Medical Shop Business Plan: How To Start Pharmacy Business

With the increasing need for medical assistance, the medical shop business is definitely flourishing with each passing day. The Pharmacy field provides the entrepreneurs with a profitable business idea as the margin of the products is really high.

Another perk of starting your own medical shop business in India is that the business doesn’t get affected by the economical crisis meaning you will never stop earning a profit, and also the medical shop is a kind of idea that can never go out of business .

Although there are a number of things that you must consider first before indulging yourself in the idea. As easy as it sounds, starting a medical shop is a bit complicated than you may think, but nothing that you can not manage. Being a part of the medicinal field, the medical shop business plan requires a high level of authenticity as it can put the lives of thousands of people at risk if you are not careful.

But there’s nothing to be worried about because in the article below we are going to introduce you with every aspect of starting your own pharmacy in India along with each and every requirement and how to convert your business in a profitable one.

First Things First

The first and most important thing to keep in mind before starting your own medical shop business is the degree of B. Pharma or M. Pharma. Do you possess the degree that is the compulsion for starting your own pharmacy? If yes then you can proceed with the plan and if no, then you must hire someone with the degree or you are not allowed to run the medical store.

Before hiring a professional to run the store for you, you must consider the following things. Apart from being qualified with a complete degree of B. Pharma or M. Pharma, the person should fulfill either of the conditions given below:

• The graduate should be a registered pharmacist approved by the pharmacist department.
• He must have the experience of at least one year working in the pharmacy before running the store.
• He should have passed S.S.L.C with years of experience in dealing with drugs that are approved by the department of drug control.

Licensing and Permits Required

Licensing is kind of a big deal when it comes to any business plan concerning the medical field. For running your own medical store you need to acquire the following licenses:

1. Registration of Business

Before starting your own pharmacy, first, you need to decide which kind of firm you want to open. This includes sole proprietorship firm, private limited company or a partnership firm. For business registration in India, you need to visit the Ministry of Corporate affairs or click on this link .

2. Drug License

The drug license for your medical store can be obtained from the State Drug Control Department. This is different for each state. Although the procedure is the same for each.

After you apply for registration, it can only be used for a single store. As soon as you fill out the application form, the procedure will get started. Along with the application form, you will also have to send the required documents mentioned on the official site attached to the document.

Now in some time, the department will conduct an investigation on your store and as soon as it is completed you will receive your license.

3. Land Permit

A land permit is required for setting up a commercial unit. For your manufacturing business , you will need to contact the municipal corporation of your state. The whole list of the municipal corporations of different states of India is listed here .

4. GST Registration

GST Registration is the service tax registration of India. You need to visit the official government website for GST registration by clicking here .

Setting Up The Commercial Unit

Location plays a big role in making your business successful there you should be extra careful while choosing one for your business plan. The location of your medical store should be available within the approachable range of the maximum number of your potential clients.

For example, a medical store near a hospital or a clinic will be the ideal location, but apart from this choosing a moderately populated residential area could also be great for the business. Also, don’t go for the area that is not saturated with the same kind of business as yours because it will make your medical store difficult to sustain.

The area of your commercial unit, however, depends on the scale of the business that you are going for. Although here we can give you an estimate of the basic requirement. If you want to open a small scale medical shop business then you are going to need an area of at least 10 sq. meters.

But if you are going for a slightly bigger version, like the wholesale retail business then you will require more than 15 sq. meters of area.

Taking up the franchise is not a requirement for starting a medical shop business rather an idea. This makes the beginning of your business plan really easy, however, it also restricts your success in some way and you will have to abide by all the customs as per the rule of the franchise that you decide to take.

The idea will also require you to invest a little more but on the bright side will save from most of the hassles. So if investing is not a problem for you, you can take the franchise of some successful drug store chain.

Investment is often a hurdle for many entrepreneurs starting their own business plan. Not everybody has tons in deposits for the idea that they are pursuing. To solve this problem you can take help from the various investment sources that can help you in starting your own business plan.

You will need approximately 3 to 4 lakhs if you are thinking about starting a small scale business and will have to invest at least Rs. 7 to 8 lakhs to open a wholesale store.

For financing your business, you have three options, first is to take your business to the private investors and present your idea in front of them in an impressive manner and if they like your idea, they will provide you with required funding for your business.

Your next option is the venture capitalist . This is where people come to for large scale investment business plan. But it is also harder to get. The process of getting investment is the same as private investors.

The last and most reliable business investment source is bank loans. Banks provide business on the basis of the potential of your business idea. If they liked the idea, they will provide you with 70% of the required amount needed for the bank. These are online links to apply for business loans at bank  SBI , Bank Of Baroda , Axis Bank , ICICI , and HDFC Banks.

For starting a medical store in India the first thing you are going to need is medicines. The supply of medicines could be difficult as many are unfamiliar with the field so they have a hard time figuring out which medicines to keep or which manufacturing companies to contact. You have basically two options here:

You can either buy the required medicines from retailers or online stores individually or you can contact the companies that can make you available all the required medicines. It is suggested that you contact the companies directly as this will provide you a higher profit margin.

For storage purposes, you are going to need different shelves and drawers. The medicines should be stored carefully and you should differentiate between the medicines serving a different purpose to remove the possibility of confusion. They should also be labeled and stored in different boxes.

Apart from this, the refrigerator is a must for your drug store as some of the medicines require you to store them in a cool environment. These medicines include doses of insulin, vaccines, and antibiotics. The drug store overall should be really organized as drug store owners must be extra careful for obvious reasons.

Profit Margin

Profit Margin should be predefined before starting your own medical store. Although it varies from store to store and brand to brand. The profit margin in the drug stores could be anywhere starting from 20% and it could go as high as 1000% on the MRP.

The profit of your drug store depends on the success of your business but the profit margin could vary as per your accordance. You will get the most profit from selling the supplements of vitamins and proteins such as salines, contraceptives., multivitamins, proteins, etc.

You must do your research before defining the profit margin in your business. You should also consider the competition in your nearby area and get the idea of the profit margin that they are using. Because too much or too low will affect the success of your business.

Informal Partnership with Doctors

Tieing up with medical professionals and doctors is only formal when you are a part of a hospital. If you work individually you will have to make an informal tie-up with the doctors to make some extra profit. You can set up some kind of commission between you and the doctor in a way in which you both can be profited.

The idea will only work if you have a clinic or hospital in the area nearby because nobody is going to travel to a long distance to reach your store even if the doctor recommended.

Building a Customer Base

Building a customer base is necessary to ensure that your store never goes out of business. You can use various marketing strategies to spread the word about your business and then you will have to manage those customers so that they keep coming back to you.

You can provide some discount to your regular customers or could start some coupon schemes for the ones who are first-timers at your store. This will ensure the regularity of the customers as well as will help you make the new ones.

You can also include some additional services like home delivery which is the prime requirement in today’s world for people who can’t get out of their houses such as elder people or ones with some serious issues. These tactics will definitely help you in the long run.

If you are looking for more medical business ideas to start your business, then please read our article on most profitable health care business ideas .

Running a medical store is not only a profitable business idea but it is also a great responsibility. There are many ways to make this business plan a successful one, but nothing will prove right if you are not careful while dealing with a business like this.

Above we have stated everything concerned with starting your own medical shop in India. If you follow these steps properly there is nothing that can stop you from making this business idea successful. If you have any questions or suggestions you can give it to us by commenting in the section below. We would be more than happy to help you. Also, let us know if you find this article helpful.

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Medicinal Plant Cultivation in India; A Profitable Agribusiness Amid Covid-19 Crisis

In the present scenario where the entire world is scrambling to discover a cure for the Covid-19 pandemic, many health experts have advised boosting the body's immune system which can help to minimize the effect and hasten the recovery from the disease. In this terrible situation, medicinal herbs have emerged as a savior.

In the present scenario where the entire world is scrambling to discover a cure for the Covid-19 pandemic, many health experts have advised boosting the body's immune system which can help to minimize the effect and hasten the recovery from the disease. In this terrible situation, medicinal herbs have emerged as a savior.

In India, the Ministry of AYUSH has recommended people to drink Kadha (formulation) made of tulsi leaves, Dalchini, dry ginger powder, and black pepper for self-care and immunity-boosting measures. Consumption of medicinal herbs is increasing day by day at a very fast speed. In such a condition, the cultivation of medicinal plants would be a very profitable agribusiness for Indian farmers.

India has 15 Agroclimatic zones, 17,000 to 18,000 types of blooming plants in which 6000–7000 are evaluated to have therapeutic properties. The use of these medicinal plants is found in numerous Indian societies and is archived in Indian systems of medication, for example, Ayurveda, Siddha, Unani, Swa-rigpa, and Homeopathy. Around 960 types of medicinal plants are assessed to be in trade of which 178 species have yearly consumption levels of more than 100 metric tonnes.

India has solid traditional health care practices that represent the old style of medication. The significant shared characteristic of the Indian old style and the folk health care traditions is their reliance upon the raw material got from an enormous assorted variety of plant species, which is evaluated to be around 6,500.

The first genuine endeavor at the national level to survey the demand and supply of therapeutic plants in the nation was made by the National Medicinal Plant Board during 2001-02 when it appointed an examination through CERPA to comprehend yearly trade levels of chosen 162 medicinal plant species. From that point, the NMPB in 2006-07 commissioned a national report to evaluate the demand and supply of medicinal plants in India. That review done by FRLHT brought different complexities in the herbal area to the surface and added to the comprehension of the subject identified with the assorted variety of raw drugs substances in trade, their botanical relationship, the volume of yearly trade, and supply sources.

Profit in Medicinal Plant Farming

Cultivation of medicinal plants in a commercial mode is one of the most profitable agribusiness for farmers. If anyone has sufficient land and knowledge of herb marketing then he or she can earn a high income in a very moderate investment in India.

Cultivation of medicinal herbs like Shankhapushpi, Atis, kuth, kutki, kapikachhu, karanja, are changing the Indian agrarian Ayurvedic scenes along with the extraordinary opportunities for the farmers to increase their income. According to the Traditional Treatment Health Center, 25 significant medicinal plants are always in full demand. They are; Indian Barbery, Licorice, Bael, Isabgol, Atis, Guggal, Kerth, Aonla, Chandan, Senna, Baiberang,  Long Pepper, Brahmi, Jatamansi, and Madhunashini, Kalmegh, Satavari, Ashwagandha, Chirata, Katki, Shankhpushpi, Ashoka, Giloe, kokum, Safed Musli.

For example, A farmer producing atis herb, largely utilized in ayurvedic medication, in the higher reaches of Uttarakhand and Himachal Pradesh may easily earn Rs2.5-3 lakh for each acre of land. A lavender rancher may get Rs1.2-1.5 lakh returns per acre of land, by cultivating rattan jot, Rs 1.15 lakh per acre, and karu, Rs 1.5-2 lakh for every acre of land.

Medicinal Plants You Must Have at Home

People in India prefer homemade recipes of Ayurveda to treat any common ailment, before taking any western treatment. Here is…

Along with previously mentioned medicinal herbs Mint, Aloe vera, Basil, Tulsi, Lemongrass, Coriander, Ajwain, are the most beneficial therapeutic yields in India.

However, a survey conducted by the All India Coordinated Research Project on Ethnobiology (AICRPE) during the most recent decade recorded more than 8000 types of wild plants utilized by the tribals and other conventional communities in India for rewarding different medical issues. Around 30% of therapeutic arrangements are gotten from roots, 5% blossoms, 10% organic products, 14% bark, 16% entire plants, 6% leaves, 7% seeds, 3% wood, 4% rhizomes, 6% stems and just under 20% of the species utilized are developed.

NMPB Offers Upto 75% Subsidy for Medicinal Plants Cultivation

To energize the medicinal plants' cultivation throughout India "The National Medicinal Plants Board (NMPB)" offers up to 75% subsidy to the farmers. NMPB has formulated schemes and guidelines for financial assistance in various zones of the medicinal plant division secured under Promotional and Commercial plans relevant both for government and non-government associations. Farmers across the nation are getting financial assistance by the AYUSH Ministry to empower the cultivation of herbs and other medicinal plants. A subsidy, as high as 75 percent, is being given as a feature of a Centrally Sponsored Scheme.

At present, many medicinal plants species have been prioritized for supporting cultivation across the nation for which subsidy is provided to the farmers, such as 75% subsidy for highly endangered medicinal plants, 50% for the cultivation of critically declining medicinal plants, and 30% for other therapeutic plants species which need support.

Below is the Prioritized list of Medicinal Plants for cultivation under the Scheme of NMPB

Plants eligible for 30% subsidy

Total 55 species of medicinal plants in India are eligible for 30% subsidy including, Neem, Brahmi, Tulsi, Pippali, Isabgol, Ghritkumari, Dalchini, Tejpat, Kapoor, Chirmati, Vach, Adusa, Smaller Galanga, Kalmegh, Artemisia, Shatavari, Pashnabheda, Pinarnava, Senna, Patang, Sadabahar, Malkagani, Mandookparni, ShwetMusali, Arni, Aparajita, Patherchur, Shankhpushpi, Krsnasariva, Rotalu, Bringaraj, Amla, Kokum, Vai Vidang, Gudmar, Kapurkachari, Anantmool, Kurchi, Trivrit, Indian Crocus, Chandrasur, Konch, Bhumiamlaki, Bakuchi, Manjishha, Flannel Weed, Kathel-badhi, Makoy, Madhukari, Pawad, Arjuba, Bahera, Harad, Giloy, Nirgundi, and Aswagandha.

Plants eligible for 50% subsidy

Total 27 species including Katha, Beal, Mulethi, Shirish, Varun, Gambhari, Chitrak, Agnimanth, Beejasar, Ashok, Timoor, Patala, Rohitak, Sarpgandha, Indian Valerian, Prishnaparni, Hrddhatri, Archa, Vidarikand, Nagakeshar, Jivanti, Pushkarmool, Kalihari, Sarivan, Atropa, and Satvin.

Plants eligible for 75% subsidy

A total of 13 species of medicinal plants are eligible for a 75% subsidy including Chandan, Jatamansi, Atees, Agar, Guggal, Kutki, Raktachandan, Bankakri, Syonaka, Vatsnabh, Daruhaldi, Kuth, and Chirata.

For detailed information, farmers can visit: www.nmpb.nic.in

Production Scenario of Medicinal Plants in the Indian States

Here we will get a state-wise tally about the area and production of medicinal plants. Rajasthan is having the highest area under these crops with a share of 56 percent, followed by Uttar Pradesh (25 %). Other major states were Madhya Pradesh (11%), Tamil Nadu (2%), Punjab (2%), Chhattisgarh (2%), Andhra Pradesh (1%), and Bihar (1%).

In the case of production, Madhya Pradesh ranks 1st with a share of 44% and Rajasthan stands 2nd with a share of 19%. The states like Tamil Nadu, Chhattisgarh, and Arunachal Pradesh were having a share of 16%, 8%, and 7% respectively. Though Karnataka is having less than a 1% share in the area but the production, it shares 2% to total country production.

Karnataka is gifted with an assortment of climatic conditions. It is one of the gigantically potential states for the cultivation of therapeutic plants. The tropical forests of the Western Ghats and deciduous Jungles of the Deccan plateau are rich in medicinal plants. Biodiversity with over 2500 types of plants. Karnataka is one of the main producers of Ashwagandha (61.65 %), Amla (9.46%), sandalwood (9.41%), and producer of other oils like Lemongrass, Citronella, Palma Rosa, Jasmine, Tuberose and Vettiver in significant qualities. Besides the above, Karnataka has also the potential to take up the cultivation of medicinal plants such as Tulsi, Stevia, Aloe vera, Coleus, Salcia, Acorus, Andrographis, Bail, Guggal, Pachouli, and Gloriosa.

Voluntary Certification Scheme for Medicinal Plants

To assist Good Agricultural Practices (GAP) and Good Field Collection Practices (GFCP) in therapeutic plants and improve the quality and wellbeing of these plants, the National Medicinal Plants Board (NMPB), and Quality Council of India (QCI), have jointly propelled a Voluntary Certification Scheme for Medicinal Plant Produce and make accessible great quality raw material to the AYUSH industry.

This scheme will benefit medicinal plant producers, groups of producers, collectors, traders, societies, manufacturers of herbal medicines, Ayush industry, and Ayush consumers as well because of the assured quality of the medicinal plants and herbs.

This scheme will also reduce the risk of recall and rejection, will increase buyer confidence in Indian herbs. It will provide assured legal compliance and assured sustainable collection as well.

The certification is available in two options:

An individual producer or collector applies for certification and gets certification for his/her produce.

A producer or collector group applies for group certification and the producer group, as a legal entity, gets certification.

Certification Criteria

The confirmation of the certification under the scheme requires guaranteeing adjustment to guidelines on Good Agricultural Practices (GAP) for Medicinal Plants-Requirements and Good Field Collection Practices (GFCP) of Medicinal Plants-Requirements.

Universities and Institutes offering Courses in Cultivation of Medicinal Plants

There are several universities and institutes in India which offer certificate and diploma courses in the cultivation of medicinal plants . Some of them are listed below;

Maharashtra University of Health Sciences, Nasik www.muhsnashik.com

This university is offering a "Certificate Course in Cultivation and Marketing of Ayurvedic Medicinal Plants". The duration of this course is of 9 months and the eligibility required is 10+2(H.S.C) or Equivalent.

Chhattisgarh University, www.cguniversity.com

This university runs a "Diploma in Medicinal Plant Farming (Cultivation)". Duration: 1 Year and Eligibility: 10+2(H.S.C)

Sharmila Institute of Medicinal Products Research Academy, Thanjavur 613007, Tamil Nadu, India. www.simpra.co.in

This institute is offering a "Post Graduate Diploma in Medicinal Plants Biotechnology (PGD- MPBT)". Duration: 1 year and Under Graduate students are eligible for this course.

Kongunadu Arts and Science College, Coimbatore, Tamil Nadu, www.kongunaducollege.ac.in

This Institute offers a full-time course named "Diploma Courses in Cultivation and Marketing of Medicinal Plants."

Uttarakhand Open University, Haldwani,Nainital, Uttarakhand, Ph: +91 5946 261122, www.uou.ac.in

This university offers a "Certificate in Ayurvedic Herb Cultivation" with a duration of 1 year and in distance learning mode.

Marketing of Medicinal Plants

The medicinal plants are not just a significant asset base for the customary medication and herbal industry yet, also, it gives occupation and wellbeing security to an enormous portion of the Indian populace. The domestic trade of the AYUSH business is about Rs. 80 to 90 billion every year. The Indian therapeutic plants and their products are also exported in the range of about Rs. 10 billion each year.

India's local herbal industry is represented by 8610 authorized herbal units, a large number of cabin level unregulated natural units and a huge number of people healers and family unit level clients of thousands of herbal raw drugs on one hand and an intricate trade web on the other that channels the herbal raw medications from different flexible sources to the end clients. Along these lines, to comprehend the Marketing and trade of the sector, an emphasis on Demand and Supply of therapeutic plants is significant. The canvas depicting demand and supply of medicinal plants in the nation is itself extremely mind-boggling.

Presently Marketing of Medicinal Plant produces mostly occurs through Mandis and other wholesale markets. There are various mediators as well. Trades are rather opaque and based on data on costs and appearances because different trends are not easily available to the farmers or producers. Here NMPB has started various initiatives to fill this gap.

The commercialization of the production of old-style ASU formulations requiring huge amounts of wild-harvested, developed, or imported herbal raw drugs that have seen the rise of the flourishing raw drug trade. It is important to realize the yearly consumption levels of the herbal raw medications and the patterns of their utilization to adequately deal with the asset for guaranteeing supportable supplies to the herbal industry, society clients, and developing worldwide markets.

Online Marketing through e-charak

e-charak is an online market place for the sale of medicinal plants. To provide an online market portal for the trade of medicinal plants and their produce, NMPB has launched an online virtual platform www.e-charak.in , and a mobile application e-charak. This online gateway could be accessed either through an internet browser or the mobile app which could be downloaded through google play store in any android cell phone. On this online platform, farmers and collectors could show their produce under possession and purchasers like merchants, traders, manufacturers, exporters could able to see products according to their requirements. This application and online platform would make a clear straightforward, serviceable exchange linkage among the producers and buyers. In this way formation of e-charak is a route forward of the Digital India Program.

According to the World Health Organisation, 70% to 95% of individuals in most of the developing countries depend to a great extent on traditional medication, mostly for natural cures, for primary healthcare. Currently, around 25% of medications are derived from plants, and numerous others are manufactured analogs based on model mixes segregated from plant species in the present-day pharmacopeia. In 2006, researchers evaluated that more than 70,000 plant species were being utilized in medicines around the world.

According to the Botanical Survey of India, India is gifted with more than 8,000 types of medicinal plants, and it's a blessing for Indian farmers that, land and climate of various regions in India are favorable for the cultivation of medicinal plants. The nation has a rich history of classical healing systems, a considerable lot of which list the utilization of these plants. For example, the oldest printed book on Indian medicinal plants, "Hortus Malabaricus," deals with the medicinal properties of the flora of the Malabar region along with India's Western Ghats region covering the regions now in the Indian states of Kerala, Karnataka, and Goa.

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Hospital chain Aster DM plans $108 mln India expansion as Gulf deal nears completion

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Reporting by Ashish Chandra in Bengaluru; Editing by Dhanya Ann Thoppil

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Private equity groups Advent International and CVC Capital have teamed up to bid for Partner in Pet Food (PPF), a maker of animal food owned by Cinven, the Financial Times reported on Sunday.

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Hospital chain Aster DM plans $108 mln India expansion as Gulf deal nears completion

Aster said it aims to be among the top three hospital chains in India and expects to add about 1,500 beds by fiscal 2027 to the 4,857 beds it currently has across 18 hospitals in the country.

Aster said it would expand its presence both by building new hospitals and by boosting the capacity at existing centres, it said.

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After a proxy advisory firm threatened to scuttle the deal, Aster said it would distribute about 70%-80% of the $903 million net proceeds from the sale to shareholders.

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($1 = 83.1430 Indian rupees)

How To Start Herbal Medicine Business? - A Stepwise Guide

In recent years, there has been a considerable growth in the sales of herbs or herbal medicinal products and starting a herbal business comes with many prospects. Many people especially from the top developed countries are recognising the benefits of herbal medicine and are switching from the conventional pharmacy.

Starting a herbal business is profitable but you need a good business model. To start this type of business, you need to have prior knowledge of traditional medicine like be a herbalist, or a Herbal medicine degree.

The owner must do deep research and create a detailed business model for the product, the price, the promotion, and distribution. Planning and research on different aspects are some of the key factors for a successful business because there is a lot of competition in the market. Here in this post, we will discuss briefly how to start a herbal medicine business and excel in this business.

How to Start A Herbal Medicine Business Step 1: Naming Your Herbal Business Step 2: Know Your Herbs Step 3: Plan Your Herbal Business Step 4: Form A Legal Entity for Your Herbal Business Step 5: Open a Business Bank Account for your Herbal Business Step 6: Marketing of Herbal Medicine Step 7: Getting Permits And Licenses for Herbal Business Step 8: How To Promote Your Herbal Business

How to Start A Herbal Medicine Business

Here are steps to start a herbal medicine business in India.

Step 1: Naming Your Herbal Business

Planning and researching the name of the business is very crucial. Naming a company can be challenging and time-consuming as it requires a lot of research. Your company name is an important part of your company’s identity . Once you understand what you want your company then start thinking about a particular name that describes your industry also think about words that describe your competitors.

Using similar names to your competitors makes it very difficult to differentiate your company from the others. Which is why the owner must identify the current trends and avoid following them by choosing a unique name that defines their company.

Step 2: Know Your Herbs

Before starting into a herbal products business, you should have a basic knowledge of herbal remedies and their applications. You must recognise and have knowledge about each herb that you are using. And ensure that your products are both safe to use and effective. You have to decide which herbs you want to grow in your herbal medicine garden.

Its always a good idea to focus on a select few when you’re growing for the market rather than offering a huge selection. Being a herbalist, one must only use organic fertilizers, as they help plants grow healthier. The owner must have knowledge on the herbal medicine uses, and identify the herbal medicine plants to expand the product range.

Here is the list of herbal medicine plant that's common :

• Milk thistle
• Saint John's wort
• Saw palmetto

Step 3: Plan Your Herbal Business

A clear herbal medicine business plan is essential for a successful entrepreneur . The cost must be planned according to the herbal medicine business model. One way you can reduce the cost is by purchase the medicinal herbs through a wholesaler and by then reselling these herbs online.

If you decide to open a permanent store to sell medicinal herbs, it will require a person to have access to much more capital. The largest expense for the people who decide to grow their medicinal herbs is the land. Depending on your herbal medicine business and the land size, you will have to pay monthly for rent, utilities, seeds, inventory, and labour.

Target Audience

A herb business can have many different kinds of clients or customers. Customers who opt for herbal medicine might be interested in living a naturally healthy lifestyle, some might want it for their physical ailments, while some might already have experience with herbal medicine.  

Charge of Customers

The cost you decide to charge your customers solely depends on your product’s quality, uniqueness, and where you choose to sell. Business owners that sell unique products have much more flexibility in setting their prices. The herbal medicine shop business usually has flexible prices for the medicine, while if the owner is starting a herbal medicine business online then they can set fixed prices for the products.

Medicinal herbs businesses that re-sell bulk herbs typically charge 30% or more over their costs. Businesses that grow medicinal herbs can also plant culinary herbs to diversify their customer base. All owners of medicinal herbs businesses can create various different type of  “value-added” products.

When it comes to strength as a company, it will depend on the portfolio of products and the wide range of herbal medicines and teas for different ailments that can meet the needs of a wide range of consumers. The herbal medicine in India is booming as many people prefer organic medicines, especially during the Covid 19 Pandemic .

Step 4: Form A Legal Entity for Your Herbal Business

The most common business structure types are the sole proprietorship, partnership, limited liability company(LLC). Establishing a legal business entity such as an LLC or corporation will protect you from being held personally liable if your medicinal herbs business is issued.

Step 5: Open a Business Bank Account for your Herbal Business

Opening a separate bank account for the business is essential for personal asset protection. The herbal medicine business owner can then get a credit card for their business account so the personal and business expense is separate. Have a business bank account also makes it easier for accounting and tax filing . Besides that, it also helps in understanding the financial performance of your herbal business.

Step 6: Marketing of Herbal Medicine

Herbal medicines can be sold in various dosage and different forms such as tablets, extracts, dried plants, capsules, products among others. The global herbal the medical market is segmented based on the type of the medicinal product, its application, and geography. According to a research, Global Herbal Medicine Market is expected to register a CAGR of 5.88% to reach USD 1,29,689.3 Million by 2023. According to a 2015 report by National Center for Biotechnology Information, around 70% to 80% of people globally rely on herbal sources for their treatment.

• Marketing via email was one of the first digital advertising methods, but it’s still one of the most effective.
• Pay close attention to federal, state, and local regulations. The herbal medicine industry has been subject to many investigations regarding product marketing and benefits.
• Partner with local health-related businesses . Producers will have the most credibility in their communities.
• Establish a product website.

Step 7: Getting Permits And Licenses for Herbal Business

To manufacture any type of Ayurvedic or Herbal products in India, you will need a license from AYUSH (The Ministry of Ayurveda, Yoga, Naturopathy, Unani, Siddha, and Homoeopathy) and not from FSSAI. Below are 3 types of manufacturing licenses issued by AYUSH :

• Complete Manufacturing License - This is a full-fledged manufacturing license. This license is a must, if you decide to market, manufacture your own product, or set up your own manufacturing unit. To get this licence, you will have to fulfil all the requirement that is stated by the state authority of AYUSH.
• Loan License - This is a manufacturing license which allows you to loan a manufacturing unit of a third party manufacturer to make your herbal products. This way you can reduce the cost of owning a manufacturing unit.
• Contract/ Third party manufacturing - This license will allow you to use the manufacturing license of a third-party manufacturer to manufacture the product. This way you can only market your products. With this license you don't have to own any manufacturing unit and don't have to get any license.

Step 8: How To Promote Your Herbal Business

Product knowledge.

When we speak of herbs, it is very important to have a basic knowledge of what you are going to sell. It is of utmost importance to know each herb that is going to be a part of your business plan .

Knowing Your Market

Creating your herbal product and putting it on your website is not enough to grow your business. You need to identify the ones you are making your product for. Your products need to solve the problems of the target audience. Presenting your product to the wrong group of people will only hold back your business from growing.

Guiding And Communicating

Herbal products are needed by consumers when their concerns are related to health. You will stand a better chance of selling your products if you can guide them about the products and their uses. This will instantaneously earn the much-needed trust of your customer which is always a positive aspect in marketing your business .

Affordable Pricing

You need to keep in mind that the products you are selling don’t suffer from the issue of overpricing. The urge to keep the products under-priced is helpful for any business owners, you have to vary much care about that you have not faced any losses.

Branding Via App

Having an app for your business not only creates a digital marketing channel but also stand out from the competitors.

Offers Coupons And Discounts

This is a great way to attract the first batch of customers and lift your business from the ground when you are just a beginner. Offering too much will increase the consumer's unhealthy expectations. So make the marketing plan with great efficiencies.

Active On Social Media

Advertising via social media costs very little and offers other benefits as well. In this way, consumers get involved in the process of marketing your herbal business. You must regularly update your social profiles and the posting of content that are engaging and interesting.

How to start herbal products business in India?

Things to consider before starting a herbal product business:-

• Market Research
• Know your herbs
• Licensing & Registration
• Location Targeting

How do I get Ayush license?

The Procedure to Obtain Licence for herbal products in India:-

• Visiting the Website
• Review of Documents
• Approval by the Commissioner
• Obtaining the License

What is Ayush certification?

Quality Council of India has been engaged for voluntary certification of quality of Ayurveda Siddha Unani (ASU) products. AYUSH Standard and AYUSH Premium Marks are awarded for products moving in the domestic and international market respectively.

How does a medicinal herbs business make money?

Medicinal herbs business owners make money by selling herbs.

What are the expenses for a medicinal herbs business?

Depending on your business, you will have to pay monthly for rent, utilities, seeds, inventory, and labour.

What are some skills and experiences that will help you build a successful medicinal herbs business?

The owner of the medicinal herbs company needs to have an understanding of the proper use of medicinal herbs or must be a herbalist. If not the owner can get a herbal medicine degree or join an online herbal medicine courses.

What is the growth potential for a medicinal herbs business in India?

With the ongoing Covid 19 Pandemic, there has been a massive growth of natural products and healthier alternatives to more common medical issues in India.

How to make herbal medicine?

To make herbal medicine, the herbalist must have knowledge of types of herbal medicine.

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First human transplant of a genetically modified pig kidney performed

Surgeons perform the first transplant of a genetically modified pig kidney into a living human at Massachusetts General Hospital in Boston. Michelle Rose/Massachusetts General Hospital hide caption

Surgeons perform the first transplant of a genetically modified pig kidney into a living human at Massachusetts General Hospital in Boston.

For the first time, surgeons have transplanted a kidney from a genetically modified pig into a living person, doctors in Boston said Thursday.

Richard Slayman, 62, of Weymouth, Mass., who is suffering from end-stage kidney disease , received the organ Saturday in a four-hour procedure, Massachusetts General Hospital announced . He is recovering well and is expected to be discharged Saturday, the hospital said.

"I saw it not only as a way to help me, but a way to provide hope for the thousands of people who need a transplant to survive," Slayman said in a statement released by the hospital.

The procedure is the latest development in a fast-moving race to create genetically modified pigs to provide kidneys, livers, hearts and other organs to help alleviate the shortage of organs for people who need transplants.

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How genetically modified pigs could end the shortage of organs for transplants.

"Our hope is that this transplant approach will offer a lifeline to millions of patients worldwide who are suffering from kidney failure," said Dr. Tatsuo Kawai, the hospital's director for clinical transplant tolerance, in the hospital statement.

Animal organs could ease transplant shortage

Several biotech companies are racing to develop a supply of cloned pigs whose DNA has been genetically modified so they won't be rejected by the human body, spread pig viruses to people or cause other complications. NPR recently got exclusive access to a research farm breeding these animals for a company in this competition, Revivicor Inc. of Blacksburg, Va.

The kidney transplanted in Boston came from a pig created by eGenesis of Cambridge, Mass. The eGenesis pigs are bred with 69 genetic modifications to prepare organs for human transplantation. The changes protect against a virus known to infect pigs as well as delete pig genes and add human genes to make the organs compatible with people.

"We are grateful for the courageous contribution of the patient and to the advancement of transplantation science," said Mike Curtis, chief executive officer for eGenesis in the statement. "This represents a new frontier in medicine and demonstrates the potential of genome engineering to change the live of millions of patients."

The Government's Plan To Fix A Broken Organ Transplant System

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The field is stirring excitement about harnessing cloning and gene-editing technologies to solve the persistent shortage of organs for human transplantation. More than 103,000 people are currently on the waiting list for organs. About 17 die every day because they can't get one.

End-stage renal disease is 3.8 times more common among Black people than white people in the U.S., according to federal statistics .

The transplant "represents a potential breakthrough in solving one of the more intractable problems in our field, that being unequal access for ethnic minority patients to the opportunity for kidney transplants due to the extreme donor organ shortage and other system-based barriers," said Dr. Winfred Williams, the kidney specialist treating Slayman, who is a Black man.

Reservations about using animal organs in people

But the research is also raising several concerns. One worry is about the possibility of spreading animal viruses to humans. Another is about slaughtering thousands of animals every year to harvest their organs.

"I think we need to be very, very careful," L. Syd M. Johnson , a bioethicist at SUNY Upstate Medical University in Syracuse, N.Y., told NPR. "I have a lot of concerns about a therapy that is very much unproven."

Some also question testing these organs on gravely ill patients.

"If the FDA wants to explore the use of pig kidneys in humans, it would be better to authorize a phase I clinical trial so we can begin to gather more systematic evidence about this," Michael Gusmano , a bioethicist at Lehigh University, wrote NPR in an email.

Surgeons have already transplanted kidneys and livers from genetically modified cloned pigs into baboons and a handful of brain dead people. Surgeons at the University of Maryland even tested hearts in two men who had run out of other options. They lived for several weeks after the procedures.

Slayman got a human kidney transplant after being on dialysis for seven years, according to the hospital. But his transplanted kidney showed signs of failure after about five years, forcing Slayman to resume dialysis last May. He's since been suffering serious complications.

The transplant of the pig kidney was made possible by the Food and Drug Administration as part of a " compassionate use " program aimed at helping desperate patients.

"When my transplanted kidney began failing in 2023, I again trusted my care team at MGH to meet my goals of not just improving my quality of life but extending it," Slayman said in the hospital's statement, adding the doctors explained the "pros and cons of this procedure."

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Modi’s India plans its own democracy index, after global rankings downgrade

The index is being finalised ahead of elections, with the Modi government worried about global criticism hurting sovereign ratings.

Prime Minister Narendra Modi’s government has approached a major Indian think tank to develop a homegrown democracy ratings index that could help it counter recent downgrades in rankings issued by international groups that New Delhi fears could affect the country’s credit rating.

The Observer Research Foundation (ORF), which works closely with the Indian government on multiple initiatives, is preparing the ratings framework, according to two people closely involved in the discussions on the project. The index is expected to hew more closely to New Delhi’s narrative than Western-based rankings that Modi’s team has criticised.

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“A review meeting was held by NITI Aayog in January, and it was decided that ORF will be releasing Democracy Rankings in a few weeks,” a top government official said, requesting anonymity.

The new rankings system could be released soon, the official said. How soon, though, is unclear – including whether the index might be unveiled before India’s upcoming national elections, announced last Saturday. India will vote in seven phases starting April 19, with votes counted on June 4. Modi is a strong favourite to return to power for a third term.

“The Democracy Index being prepared by ORF went through a peer review process and expert analysis on the methodology a few weeks ago … it is likely to be released soon,” a second source familiar with the development said.

ORF, which co-hosts the Raisina Dialogue – India’s equivalent of the Munich Security Conference and the Shangri-La Dialogue, other major geopolitics, and geo-economics conclaves – with the country’s Ministry of External Affairs, did not respond to queries from Al Jazeera. The Raisina Dialogue was held this year between February 21 and February 23.

The NITI Aayog, the government’s own public policy think tank that has been shepherding internal discussions within the Modi government on global rankings, said it was not preparing the index – but did not confirm nor deny whether it was involved in helping an external think tank prepare one.

“NITI is not developing any Democracy Index,” a spokesperson for the body told Al Jazeera. “The government of India monitors select global indices [by various global entities] to drive reforms and growth in the country.”

Yet emails and the minutes of meetings held between government agencies over the past three years, accessed and reviewed by Al Jazeera, point to a growing urgency within the Modi administration on challenging setbacks to India’s democracy credentials, including through a report prepared by India.

‘Flawed democracy’ or ‘self-appointed custodians’?

This exercise began right after international indices such as US-based non-profit Freedom House downgraded India’s status from a free democracy to a “partially free democracy” in 2021. The V-Dem Institute, based in Sweden, classified India as an “electoral autocracy”. The Economist Intelligence Unit ranked India 53rd in its 2020 Democracy Index, labelling it a “flawed democracy”, citing factors such as the Citizenship Amendment Act (CAA) , National Register of Citizens (NRC) and the revocation of special status in Indian-administered Kashmir.

The CAA, whose implementation was announced last week on the eve of elections – four years after it was passed by parliament – introduces what critics say is India’s first religion-based citizenship test. In effect, asylum seekers from neighbouring nations who were not Muslims can get an expedited path to Indian nationality. The NRC initiative, according to its opponents, threatens the expulsion of millions of people whose families have lived in eastern and northeastern India for generations, but who – like many Indians – do not have formal birth documents. In 2019, India ended a special constitutional provision that gave Jammu and Kashmir a semi-autonomous status.

India’s ranking in the Economist Intelligence Unit’s (EIU) Democracy Index had fallen sharply between 2016 and 2020, though it has improved marginally since then: up to 41 (tied with Poland) in 2023, from 46 in 2022. However, it remains classified as a “flawed democracy”.

The Indian government has dismissed these international rankings, stating that India did not “need sermons”. Indian Foreign Affairs Minister S Jaishankar in March 2021 accused the institutions behind these rankings of “hypocrisy” and called them “self-appointed custodians of the world who find it very difficult to stomach that somebody in India is not looking for their approval”.

‘What can we do about it?’

Yet, despite public bravado, behind the scenes, the Indian government has been worried.

In 2021, top officials from central Indian government ministries and departments such as home affairs, external affairs and the legislative departments, among others, were instructed by Cabinet Secretary Rajiv Gauba to monitor India’s performance in democracy indices and identify areas where the country’s standing had declined.

The Indian government began monitoring its performance in 30 global indices, with different ministries tasked with tracking individual ratings. For instance, the legislative department under the Ministry of Law and Justice was assigned the EIU’s Democracy Index to watch. The NITI Aayog was asked to create a dashboard for monitoring data across all the indices.

In a review meeting for monitoring of these indices taken by the cabinet secretary in July 2022, it was noted in the minutes of the meeting that the NITI Aayog’s then-CEO Amitabh Kant “proposed prioritising Global Indices carrying high reputational risk for monitoring by NITI Aayog”.

The minutes of the meeting also noted that Sanjeev Sanyal, member of the Economic Advisory Council to the Prime Minister “drew attention of the Committee to faulty methodologies, inadequate sample sizes, undue weightage to perception-based surveys, one size fits all global standards for benchmarking and biased approach of Publishing Agencies/data agencies”.

They also noted that as the Worldwide Governance Indicators “published by World Bank impacts sovereign rating, [Sanjeev Sanyal] advocated the need for flagging India’s concerns. He observed that we should demand accountability and transparency in these matters from the World Bank, as also other multilateral bodies which publish some of the Global Indices”.

The World Bank’s Worldwide Governance Indicators (WGI) report both aggregate and individual governance indicators for more than 200 countries and are key inputs used by ratings agencies in determining the sovereign ratings of nations. India’s own internal assessment has previously found that India’s scores were “much below” its peers on all counts. The government assessment acknowledged that India needed to do better and said there was a danger India may witness a drop in WGI scores “due to the latest negative commentary on India by think tanks, survey agencies and international media”.

This was even highlighted in June 2020, when Sanyal, then principal economic adviser in the Ministry of Finance, prepared a presentation titled “Subjective Factors that Impact India’s Sovereign Ratings: What Can We Do About It?” for internal circulation within the government. It said factors noted in the Freedom House report also led to the country receiving the largest score decline among the world’s 25 largest democracies in 2020. The Freedom House Report 2020 mentioned “alarming setbacks in the world’s largest democracy” and highlighted that “a series of actions by India’s Hindu nationalist government in 2019 violated democratic rights in India and Indian Kashmir”.

Concerns with global ratings

The Indian government is not alone in disputing the parameters that agencies use for sovereign ratings. Independent economists too have challenged these indices.

“We have known that the major component of a sovereign rating is the per capita income of a country,” said Rathin Roy, a senior fellow at the UK-based Overseas Development Institute. “That has been the main criticism of India and other major developing countries, like Brazil and Indonesia. And that’s a criticism I fully support.”

But Roy questioned the government’s emphasis on proving India’s democratic credentials and the link to the country’s sovereign rating.

“If you look at stuff like democracy and political stability, their weightage in the sovereign rating is fairly small,” he said. “It may be true that they form part of the qualitative assessment of rating agencies. And these agencies may be biased. But I think the interesting story here is, why is this government bothered about relatively small stuff like democracy in the ratings, as opposed to the major elephant in the room, which is per capita income?”

Just months after Sanyal’s June 2020 presentation, the Indian government began to take steps to develop its own index in a bid to rebut Western downgrades. “We may encourage one of the Indian independent think tanks to bring out its own annual world democracy report based on comprehensive parameters,” the Foreign Ministry wrote in an internal note in January 2021.

In its note, the ministry also suggested that Indian diplomatic missions across the world actively engage with organisations like V-Dem and Reporters Without Borders (RSF) to give them information that would help them put “India at the rightful place on the democracy and press-freedom index , in future reports”. India’s ranking in the World Press Freedom Index fell from 150th in 2022 to 161st this year out of 180 countries, according to the latest report released by global media watchdog RSF.

The Law Ministry turned to India’s High Commission in London to seek details from the EIU on its assessment of India. In an email exchange in July 2021 between the Law and Foreign Ministries, it was revealed that repeated attempts were made by the mission to contact EIU. “EIU did not welcome any engagement as it took several attempts over a period of time to finally connect,” the note said, and “politely but firmly declined the offer from the mission to supply data, research or similar inputs.”

‘Will damage India’s case’

But that didn’t deter the Indian government. Also in 2021, the Indian Foreign Ministry nudged Om Birla, the speaker of India’s lower house in Parliament, to brief heads of foreign missions in New Delhi on the robustness of Indian democracy. It prepared “speaking notes” for him.

“A large democratic world exists beyond the West, one that gives democracy and pluralism a more universal appeal. But for that to make itself felt in the current situation, the power of ideas and strength of beliefs need to be stronger than the prejudices of history. Whether such convergences can override entrenched frameworks is still an open question. India holds the key to the answer,” the notes read.

And on Tuesday, India’s Foreign Minister S Jaishankar referenced ancient Indian scriptures as proof of India’s long democratic traditions, in an address at the Summit of Democracy in South Korea. “India’s ancient civilisation, marked by profound philosophical traditions, and a deep respect for individual freedom, laid the groundwork for the democratic ideals that we cherish today,” he said.

Roy, the economist, said the government’s approach appeared to betray insecurity about “its own approach to democracy, press freedom and other things, which are negative irrespective of their subjective impact on ratings”.

An India-developed democracy rating could backfire on the country, he said. Other countries and organisations would not give it credibility if the index is perceived as being driven by the Indian government, he said.

“In fact, I would say that if the government started this sort of exercise, it would damage India’s case. It would be best to ignore the democracy and other subjective elements of sovereign ratings given their minor weight,” Roy said.

It is unclear what parameters an Indian-designed democracy ratings index might use. Al Jazeera sent detailed questionnaires to the Foreign Ministry, Law Ministry and ORF but has received no response. In response to an email seeking comments, Sanjeev Sanyal’s office declined to comment stating: “Shri Sanjeev Sanyal ji, Member EAC-PM has a hectic official schedule, hence request for comment is regretted.”

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Chuck Schumer on His Campaign to Oust Israel’s Leader

The senate majority leader, chuck schumer, explains why he decided to speak out against benjamin netanyahu, the israeli prime minister..

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