24 October 2019 | News
Indo-German Joint Venture set to open its first plant in North India to cater to local clients
In an endeavour to make India a global leader in the pharma sphere and Himachal Pradesh the country’s next “Industrial Hub”, SCHOTT KAISHA, the premium manufacturer of glass pharma packaging products is setting up yet another manufacturing facility in the country, it’s very first 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, in order 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 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 recognising the state’s contribution to pharma sector, plans to invest over INR 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 next year.
Medicine spending in India is projected to grow 9-12 per cent 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 of SCHOTT KAISHA, “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 per cent 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 recognises the need for quality products in a price sensitive market, and thus, has always been a frontrunner 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 supplychain in its pursuit to bring top notch innovation in the domestic market.