How to start Pharmacy business in India

Requirement to Start Pharmacy business in India.

1. Degree of M.Pharma/ B.Pharma

To start pharmacy business in India the person should have a degree or diploma in pharmacy from a recognized institution or university with 1 year experience in dealing with drugs.

2. Business Entity

In India business one can start in proprietorship / Partnership/LLP or Private Limited company. The Selection of business entity plays a very important role and it totally depends on the Analysis of future plan like expansion plans, Investment/loan requirement or sale of business etc . For Foreign national we always suggest Private Limited Company as exit and entry in private limited company is very easy and it also have expansion plans.

3. Legal Licenses and Registrations

• Drug License

The Drugs and Cosmetics Act, 1940 (amended in 1945) govern the guidelines for import,                                manufacture, and distribution of drugs in India. 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.

• Apart from Medical drug license you should apply for Food Business Operator Licenses provided by FSSAI to trade/distribute Food products and food supplements. If you want to deal in food supplements/neutraceuticals then in this case FSSAI licence is required .
• Shop and establishment act

To run store / shop in any state one need to take shop & Establishment License from local                             Authority of state to run hassle free business.

• Goods and Services tax number:- GST number is mandatory to run any business in India for having turnover exceeding 20 lakh.
• Import and export code license in case of import of medicine from out of India

Process to start Pharmacy business in India

To start a business in India first Phase is to identify the Location and conduct the market survey for business , however as you already decided the business and location so we may proceed a Second phase.

Step-1

Formation of business Entity

To start with any process of agreements and license one need to incorporate business entity. For foreign nationals we recommend Private Limited company because of it has limited Liability and maximum tax benefit in India for foreign nationals. For Company registration  process Click here

Step-2

Renting of business premises and creating of Infrastructure for store. As getting different business licenses a valid residential address is mandatory.

Step -3

Application and Getting Different License and registration as mentioned.

Step- 4

Hiring of staff and procurement of Stock in India from origin country.

Step -5

Now you may start selling your product in India.

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