In an endeavor to make India a global leader in the pharma sphere and Himachal Pradesh the country’s next industrial hub, Schott Kaisha, a manufacturer of glass pharma packaging products, is setting up its first manufacturing unit in Himachal Pradesh. The Indo-German joint venture had recently signed an MoU with the Himachal Pradesh government for setting up its most advanced facility, to especially cater to the demands of the growing northern market.
During the Domestic Roadshow under the ‘Rising Himachal Global Investors Meet’ in Chandigarh, the MoU was signed between Schott Kaisha and Shri Jayram Thakur, chief minister of Himachal Pradesh. The state is ranked third among global pharmaceutical hubs, manufacturing more than 150 bulk drugs and exporting to over 200 countries. Recognizing the state’s contribution to the pharma sector, Schott Kaisha plans to invest over Rs 50 crores on the plant to set up production capacity of 360 million ampoules and 70 million vials. The plant is expected to be operational by April 2020.
Medicine spending in India is reported to grow 9-12% over the next five years, enabling India to become one of the top 10 countries in terms of medical spending.
The new plant in Baddi would further add to Schott Kaisha’s overall production capacity of three billion pieces of primary pharmaceutical packaging products. The plant would also lead to job creation in the industrial area as Schott Kaisha plans to employ around 100 people within the first few months.
Discussing his current investment in the state, Rishad Dadachanji, director of Schott Kaisha said, “Pharmaceutical packaging is a growth area in India and Baddi is home to many pharmaceutical companies, including some of our key clients. The state meets 35% of the demand for pharma products in Asia. In the past few years, Himachal Pradesh has done exceptionally well in attracting investments to build a concrete industrial base for the pharma sector. Being a pioneer in the field of pharmaceutical glass packaging, Schott Kaisha looks forward to setting up its manufacturing processes in the region, and strengthen the state’s efforts but not only setting up a plant but also by producing products which meet the global standards.”
The Indian healthcare sector, one of the fastest growing sectors, is expected to cross US$ 372 billion by 2022. India’s pharmaceutical exports stood at US$ 17.27 billion in 2017-18 and is expected to reach US$ 20 billion by 2020, as reported by Schott Kaisha.
This move also comes at a time when the domestic market is increasingly facing a threat posed by low-quality pharma packaging products. Schott Kaisha recognizes the need for quality products in a price-sensitive market. This year, the company hosted over 500 customers, partners and prospects through a five-city roadshow across India to discuss the latest technological innovations and trends.
