In these unparalleled times, besides agriculture, the only sector that has kept India alive is health and pharma. During the pandemic when the Gross Domestic Product of the country has shrunk by 23.9 per cent in Q1 of the current fiscal, the Pharma industry indeed kept it all going. Statistically, India is the leading supplier in generics with one of the highest numbers of USFDA approved plants and hence the ‘Indian pharma industry’ is also known as ‘The Pharmacy of the World’ explains Hirav Shah, Celebrated Business Strategist and Astro Consultant.
Calling For Investors: 1.72 per cent to the country’s GDP, was the contribution by the sector in the last fiscal itself, and this was indeed a significant mark. It was around one per cent a decade ago. Government initiatives, research and development and FDI inflows opened new avenues for the industry to grow further. Still, an investment opportunity of more than $366.31 million in the pharma segment await investors, Says Hirav Shah.
Pharma Exports: Shah Opines that, Exports has been a major support ; reason being it lately the exports stood at $7595 million and it remains the second highest contributor with 7.79 percent of total exports. All in all, in case of exports, drugs and pharma products have recorded positive growth of 24.89 percent in the last quarter of this year.
Pioneer Industry Amidst Pandemic: The robustness of the pharma industry is evident from the fact that the pharma companies did try and succeeded also, to combat the current crisis with a lot of efforts. Our country is a hub and the largest manufacturer of vaccines in the world, the fight against the pandemic cannot succeed without Indian vaccine manufacturers. India is also leading the discovery of Covid vaccines and currently a few of them are undergoing
human trials. The forthcoming months would witness our Country at the forefront of the immunization drive against Covid, Tells Shah.
The Road Towards Atma Nirbhar
In March itself, The Government of India made a significant announcement of a package of Rs 14,000 crores to boost the domestic production of active pharma ingredients (APIs) and various medical devices in order to reduce the industry’s dependency on raw materials import.
The Government is planning to set up mega bulk drug parks and also aims to make India a major hub for end-to-end drug discovery, expresses Famed Business Astrologer Hirav Shah.
Reasons To Loop In An Astro-Strategist
Business Astrologer, Consultant and Influential Adviser, Hirav Shah is of the view that-
The Indian pharma industry will have improved storage and supply chain infrastructure and observe increased use of digital media to market the medicines as well as to reach out to the consumers(patients and prescribers), as per current industry trends. Not just the urban markets but pharma companies will increase their investments to develop better medical infrastructure to tap the rural markets as well. In the next decade, an estimate of $200 billion will be invested on the medical infrastructure of our country.
On that note, in these unprecedented times, many have swept away, but not everyone got the jolt.
Pharmaceutical companies have indeed minted money we all know.
Well, For the Indian pharma industry – to be the backbone of our economy and make India healthy, all these companies now have to reach ‘upto the next level’, Opines Hirav Shah
For that, Indian Pharma companies are now eyeing to go few notches higher in their turnover.
And, Local Pharma companies like
Dr Reddy’s Laboratories,
Aurobindo Pharma etc…are gunning to be global.
And MNCs like Pfizer,
Johnson and Johnson,
Novartis etc… are looking at sky-rocketing, pertaining to their revenue.
But this vision needs massive actions from the companies, along with support from the Government. All they now need is consistency in their upward business trend. To be sure of consistency in this trending world, clarity is imperative and essential, asserts Hirav Shah.
Astrology is the only KEY on the planet that can give certainty and clarity even before actions are undertaken. And when actions are huge, it’s not advisable to leave everything to ‘Chance’, Quotes Shah.
To sum it all up, Hirav Shah Opines that- Astro-Strategic consultation should be mandatory for Indian Pharma Sector since it enables to discover the strengths and weaknesses of the business, guides to strategize for further execution and helps in finding out the Forecast of ‘ROI, Profit and Revenue’.
Hence, In “Business of any kind”, Without An Actionable Strategy, Nothing Is Possible and With Astro-Strategy Everything Is Possible, Concludes Hirav Shah.