Known for farm innovations, Karnal is now growing into an industrial hub for pharmaceuticalmanufacturing units, both allopathic and ayurvedic. The industry is creating both direct and indirect job opportunities for around 5,000-5,500 people with an annual turnover of near Rs 250 to Rs 300 crore.
Though, the industry has been in existence here for more than fifty years, its growth has started to accelerate in the past few years, clocking around 15 percent annual growth. RL Sharma, president, Pharmaceutical Manufacturers Association (PMA) of Karnal informed that in the past ten years, compound annual growth rate (CAGR) of the industry in the region has been around 15 percent.
"Net annual turnover of units has been oscillating between Rs 250 and Rs 300 crore, in which ayurveda contributes around Rs 50 crore." He said that Karnal-based pharmaceutical manufacturers are in export also.
"Around 20 percent of our net turnover (Rs 50 crore - Rs 60 crore) comes from the global merchandise," said Sharma. There are around 55-60 pharmaceutical units operating in Karnal out of which allopathic units are around 35 and ayurvedic units are near 20-25.
Elaborating on the annual turnover of the pharma industry in the region, Sharma said, "There are around 35 units dealing in allopathic drugs. On an average, one unit is having an annual turnover of around Rs 7 crore to Rs 7.5 crore. So, net annual turnover of the allopathic drug manufacturing units in the region would be around Rs 250 crore."
Sharma of Pharmaceutical Manufacturers Association of Karnal said that pharma industry is labour intensive and one unit creates direct job opportunity for around 35-40 people. Apart from this, it creates indirect jobs in the region, which would be around 1.5 to 2 times of the direct job creation. "On an average, one pharma unit is creating around 100 direct and indirect job opportunities in Karnal," said Sharma.
AYURVEDA BIZ Dr Gulshan Gulati, a major player in ayurvedic manufacturing in Karnal said, "Ayurvedic units in Karnal produces all kinds of drugs available in the market but like any other market it also has its own some USP (Unique Sales Proposition)." He said that the majority of business in this segment comes from drugs for chronic diseases and the oils made for arthritis patients. He informed that ayurvedic and chronic disease medicines manufactured in Karnal are in huge demand both in the domestic and in the global market.
Karnal exports ayurvedic medicines to Russia and West Asian countries and it generates around 10 percent (Rs 5 crore to Rs 6 crore) of its net turnover through export. Elaborating about the supply chain of the ayurvedic products in domestic market, Dr Gulati said, "Karnal has been a traditional hub for ayurvedic medicines since ancient times but recently it has started taking shape of an industry and has been logging consistent percent growth in last ten years."
Source:The Economic Times
Though, the industry has been in existence here for more than fifty years, its growth has started to accelerate in the past few years, clocking around 15 percent annual growth. RL Sharma, president, Pharmaceutical Manufacturers Association (PMA) of Karnal informed that in the past ten years, compound annual growth rate (CAGR) of the industry in the region has been around 15 percent.
"Net annual turnover of units has been oscillating between Rs 250 and Rs 300 crore, in which ayurveda contributes around Rs 50 crore." He said that Karnal-based pharmaceutical manufacturers are in export also.
"Around 20 percent of our net turnover (Rs 50 crore - Rs 60 crore) comes from the global merchandise," said Sharma. There are around 55-60 pharmaceutical units operating in Karnal out of which allopathic units are around 35 and ayurvedic units are near 20-25.
Elaborating on the annual turnover of the pharma industry in the region, Sharma said, "There are around 35 units dealing in allopathic drugs. On an average, one unit is having an annual turnover of around Rs 7 crore to Rs 7.5 crore. So, net annual turnover of the allopathic drug manufacturing units in the region would be around Rs 250 crore."
Sharma of Pharmaceutical Manufacturers Association of Karnal said that pharma industry is labour intensive and one unit creates direct job opportunity for around 35-40 people. Apart from this, it creates indirect jobs in the region, which would be around 1.5 to 2 times of the direct job creation. "On an average, one pharma unit is creating around 100 direct and indirect job opportunities in Karnal," said Sharma.
AYURVEDA BIZ Dr Gulshan Gulati, a major player in ayurvedic manufacturing in Karnal said, "Ayurvedic units in Karnal produces all kinds of drugs available in the market but like any other market it also has its own some USP (Unique Sales Proposition)." He said that the majority of business in this segment comes from drugs for chronic diseases and the oils made for arthritis patients. He informed that ayurvedic and chronic disease medicines manufactured in Karnal are in huge demand both in the domestic and in the global market.
Karnal exports ayurvedic medicines to Russia and West Asian countries and it generates around 10 percent (Rs 5 crore to Rs 6 crore) of its net turnover through export. Elaborating about the supply chain of the ayurvedic products in domestic market, Dr Gulati said, "Karnal has been a traditional hub for ayurvedic medicines since ancient times but recently it has started taking shape of an industry and has been logging consistent percent growth in last ten years."
Source:The Economic Times
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