In an endeavor to make India a global leader in the pharma sphere and Himachal Pradesh country’s next industrial hub, Schott Kaisha, a manufacturer of glass pharma packaging products, has set up its first manufacturing facility in Himachal Pradesh. To cater to the demands of growing northern market, the Indo-German joint venture recently signed an MoU with the Himachal Pradesh government for setting up its most advanced facility.
During the Domestic Roadshow under the ‘Rising Himachal Global Investors Meet’ in Chandigarh, the MoU was signed between Schott Kaisha and Jayram Thakur, chief minister of Himachal Pradesh. Himachal Pradesh is ranked third among global pharmaceutical hubs, manufacturing more than 150 bulk drugs and exporting to over 200 countries. Schott Kaisha recognizing the state’s contribution to pharma sector, plans to invest over Rs. 50 crore on the plant to set up production capacity of 360 million ampules and 70 million vials. The plant is expected to be operational by April 2020.
Medicine spending in India is projected to grow 9-12% over the next five years, enabling India to become one of the top 10 countries in terms of medicine spending. Schott Kaisha, with its existing plants in Daman and Gujarat, is a preferred partner for most of the leading pharmaceutical companies in India, due to its ‘best quality for users all over the world’ ethos.
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 about his current investment in the state, Rishad Dadachanji, director, 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. In fact, the state meets 35% of 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 set up its gold standard 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.”
Indian healthcare sector, one of the fastest growing sectors, is expected to cross US$ 372 billion by 2022. In fact, India’s pharmaceutical exports stood at US$ 17.27 billion in 2017-18 and are expected to reach US$ 20 billion by 2020.
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, and thus, has always been a front-runner in introducing new and innovative solutions. This year, the company hosted over 500 customers, partners and prospects through a 5-city roadshow across India to discuss latest technological innovations and trends.
Schott Kaisha’s current and upcoming investment strategy for India is based on growing together with the industry and involving the entire supply-chain in its pursuit to bring top notch innovation in the domestic market.
