{"id":16892,"date":"2020-11-28T11:26:10","date_gmt":"2020-11-28T05:56:10","guid":{"rendered":"https:\/\/swaritadvisors.com\/learning\/?p=16892"},"modified":"2021-01-05T18:11:18","modified_gmt":"2021-01-05T12:41:18","slug":"open-a-medical-store-in-india","status":"publish","type":"post","link":"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/","title":{"rendered":"Open a Medical Store in India: Its Concept and Process"},"content":{"rendered":"\n<p class=\"has-drop-cap\">In India, Pharmacy or Medical Store Business is considered\u201cEvergreen\u201d, as the same is not affected by any economic cycles or pandemic, such as COVID \u2013 19. Also, due to the increasing popularity of multi-speciality and corporate hospitals, India is witnessing significant growth in its Pharmacy sector. Further, to open a Medical Store in India, the key factors to consider by budding entrepreneurs are Capital Investment and Space.<\/p>\n\n\n\n<p>In this blog, we will discuss the concept and procedure of how to open a Medical Store in India.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-light-blue ez-toc-container-direction\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3a359d5c3e2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3a359d5c3e2\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Growth_of_Indian_Pharmacy_Sector\" title=\"Growth of Indian Pharmacy Sector\">Growth of Indian Pharmacy Sector<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Different_Types_of_Pharmacy_Business\" title=\"Different Types of Pharmacy\nBusiness\">Different Types of Pharmacy\nBusiness<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Hospital_Pharmacy\" title=\"Hospital Pharmacy \">Hospital Pharmacy <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Standalone_Pharmacy\" title=\"Standalone Pharmacy\">Standalone Pharmacy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Chain_Pharmacy\" title=\"Chain Pharmacy\">Chain Pharmacy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Township_Pharmacy\" title=\"Township Pharmacy\">Township Pharmacy<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Laws_Governing_Medical_Stores_in_India\" title=\"Laws Governing\nMedical Stores in India\">Laws Governing\nMedical Stores in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Regulatory_Authority_for_Medical_Stores_in_India\" title=\"Regulatory Authority for Medical Stores in India\">Regulatory Authority for Medical Stores in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Different_Types_of_Drug_License_in_India\" title=\"Different Types of Drug License in\nIndia\">Different Types of Drug License in\nIndia<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Retail_Drug_License\" title=\"Retail Drug License\">Retail Drug License<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Wholesale_Drug_License\" title=\"Wholesale Drug License\">Wholesale Drug License<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Minimum_Requirements_to_Open_a_Medical_Store_in_India\" title=\"Minimum\nRequirements to Open a Medical Store in India\">Minimum\nRequirements to Open a Medical Store in India<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Area_Required\" title=\"Area\nRequired\">Area\nRequired<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Storage_Facility\" title=\"Storage\nFacility\">Storage\nFacility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Technical_Staff\" title=\"Technical\nStaff\">Technical\nStaff<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Wholesale_Pharmacy\" title=\"Wholesale Pharmacy\">Wholesale Pharmacy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Retail_Pharmacy\" title=\"Retail Pharmacy\">Retail Pharmacy<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Business_Plan_to_Open_a_Medical_Store_in_India\" title=\"Business\nPlan to Open a Medical Store in India\">Business\nPlan to Open a Medical Store in India<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Outline_the_Scope_of_the_Business\" title=\"Outline the Scope of the Business\">Outline the Scope of the Business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Decide_the_Type_of_Business_Structure\" title=\"Decide the Type of Business\nStructure\">Decide the Type of Business\nStructure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Manage_Expenses\" title=\"Manage Expenses\">Manage Expenses<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Establish_Research_Facility\" title=\"Establish Research Facility\">Establish Research Facility<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Obtain_a_Drug_License\" title=\"Obtain a Drug License\">Obtain a Drug License<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Other_Documents_and_Approvals\" title=\"Other Documents and Approvals\">Other Documents and Approvals<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-25\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Documents_Required_to_Open_a_Medical_Store_in_India\" title=\"Documents Required\nto Open a Medical Store in India\">Documents Required\nto Open a Medical Store in India<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-26\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Licenses_Required_to_Open_a_Medical_Store_in_India\" title=\"Licenses Required to Open a Medical Store in\nIndia\">Licenses Required to Open a Medical Store in\nIndia<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-27\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Company_Registration\" title=\"Company Registration\">Company Registration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-28\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#GST_Registration\" title=\"GST\nRegistration\">GST\nRegistration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-29\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Shops_and_Establishment_License_or_Gumasta_Registration\" title=\"Shops and Establishment License or\nGumasta Registration\">Shops and Establishment License or\nGumasta Registration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-30\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Drug_License\" title=\"Drug License\">Drug License<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-31\" href=\"https:\/\/swaritadvisors.com\/learning\/open-a-medical-store-in-india\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Growth_of_Indian_Pharmacy_Sector\"><\/span>Growth of Indian Pharmacy Sector<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Nowadays, there has been a significant\nincrease in the pharmacy sector all over the world. The same is possible\nbecause of its lucrative nature and growing E-commerce. <\/p>\n\n\n\n<p>Further, the growth of the Indian\nPharmacy Sector can be summarised by various reports as follows:<\/p>\n\n\n\n<ol><li>Further,\naccording to a report published by <em>India\nBrand Equity Foundation<\/em>, dated 21.10.2020, the Indian Pharmaceutical Sector\nsupplies more than 50% of global demand for several Vaccines, which comprises\nof 40% demand in the US and 25% of all the vaccines in the UK. <\/li><\/ol>\n\n\n\n<p>Moreover, as per the same report, the\nIndian Pharmaceutical Sector is projected to grow to the US $100 billion by the\nend of 2025. Also, the Pharmaceuticals export from India reached the US $20.70\nbillion in the F.Y. 20. <\/p>\n\n\n\n<ul><li>As\nper a report published by <em>Department for\nPromotion of Industry and Internal Trade (DPIIT)<\/em>, the Indian Pharmacy\nSector has attracted cumulative FDI inflow of US $16.50 billion between April\n2000 and March 2020.<\/li><li>According\nto a <em>STATISTA<\/em> Report published on\n16.10.2020, the Value of the Indian Pharmaceutical Exports from the financial\nyear 2012 to 2020 is the US $11 billion.<\/li><\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Different_Types_of_Pharmacy_Business\"><\/span>Different Types of Pharmacy\nBusiness<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The different types of Pharmacy business prevalent in India are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Different-Types-of-Pharmacy-Business-heading.png\" alt=\"Types of Pharmacy Business\" class=\"wp-image-16896\" width=\"355\" height=\"355\" srcset=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Different-Types-of-Pharmacy-Business-heading.png 1000w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Different-Types-of-Pharmacy-Business-heading-150x150.png 150w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Different-Types-of-Pharmacy-Business-heading-300x300.png 300w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Different-Types-of-Pharmacy-Business-heading-768x768.png 768w\" sizes=\"(max-width: 355px) 100vw, 355px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Hospital_Pharmacy\"><\/span>Hospital Pharmacy <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The term \u201cHospital Pharmacy\u201d denotes a medical store that is set-up inside a hospital. Further, this type of stores serves only in-hospital medical needs.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Standalone_Pharmacy\"><\/span>Standalone Pharmacy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It is one of the most\ncommonly used medical stores or pharmacy. Further, these stores operate mainly\nin residential areas and localities.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Chain_Pharmacy\"><\/span>Chain Pharmacy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The pharmacies or\nmedical stores that are present in Malls or Shopping Complexes are known as\nchain pharmacy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Township_Pharmacy\"><\/span>Township Pharmacy<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>When a pharmacy or a\nmedical store is set-up in a Township are, the same is termed as the township\npharmacy.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Laws_Governing_Medical_Stores_in_India\"><\/span>Laws Governing\nMedical Stores in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>All the medical stores or pharmacies set-up in India are governed and regulated by the provisions of the <strong>Indian Pharmacy Act 1948<sup><a href=\"http:\/\/legislative.gov.in\/hi\/actsofparliamentfromtheyear\/pharmacy-act-1948\" class=\"text-primary\"><strong><em>[1]<\/em><\/strong><\/a><\/sup><\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Regulatory_Authority_for_Medical_Stores_in_India\"><\/span>Regulatory Authority for Medical Stores in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Prior to open a Medical Store in India, the drugstore owner needs to obtain <strong><a href=\"https:\/\/swaritadvisors.com\/drug-license\" class=\"text-primary\">Drug License in India<\/a><\/strong> from both the authorities as follows:<\/p>\n\n\n\n<ol><li>Central Drugs Standard Control Organization (CDSCO).<\/li><li>State Drugs Standard Control Organization (SDSCO).<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Different_Types_of_Drug_License_in_India\"><\/span>Different Types of Drug License in\nIndia<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>To open a Medical Store in India, the pharmacy owner needs to acquire either of the Drug License as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Different-Types-of-Drug-License-in-India-heading.png\" alt=\"Types of Drug License\" class=\"wp-image-16897\" width=\"595\" height=\"320\"\/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Retail_Drug_License\"><\/span>Retail Drug License<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Whenever an individual opens a Medical Store in India, he\/she requires to obtain a Retail Drug License from the authorities after paying the prescribed fee.<\/p>\n\n\n\n<p>Further, the basic\nrequirement for this type of drug license is that the applicant must possess a\ndegree or diploma from a recognised university or institute.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Wholesale_Drug_License\"><\/span>Wholesale Drug License<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Anyone who\nwants to open a wholesale pharmacy business in India needs to acquire Wholesale\nDrug License from the authorities. Further, it shall be considerate to mention\nthat unlike a Retail Drug License, there are no such stringent laws and\nconditions prescribed to obtain this license.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Minimum_Requirements_to_Open_a_Medical_Store_in_India\"><\/span>Minimum\nRequirements to Open a Medical Store in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The minimum requirements to open a Medical Store in India are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Minimum-Requirements-to-Open-a-Medical-Store-in-India-heading.png\" alt=\"Medical Store Minimum Requirements\" class=\"wp-image-16893\" width=\"541\" height=\"399\" srcset=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Minimum-Requirements-to-Open-a-Medical-Store-in-India-heading.png 1000w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Minimum-Requirements-to-Open-a-Medical-Store-in-India-heading-300x221.png 300w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Minimum-Requirements-to-Open-a-Medical-Store-in-India-heading-768x567.png 768w\" sizes=\"(max-width: 541px) 100vw, 541px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Area_Required\"><\/span>Area\nRequired<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>To open a\nMedical Store in India, the minimum area required is 10 sq. meters, and\nmoreover, an area of 15 sq. meters is needed for a common retail and wholesale\npharmacy;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Storage_Facility\"><\/span>Storage\nFacility<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>A\ndrugstore needs to have both an air conditioner and a refrigerator. The same is\nrequired to fulfil the labelling specifications, as there are some drugs, such\nas Vaccines, Insulin Injections, Sera, etc., that are required to be stored in\na refrigerator or freezer;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Technical_Staff\"><\/span>Technical\nStaff<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Technical Staff is required for the\ntypes of Pharmacies as follows:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Wholesale_Pharmacy\"><\/span>Wholesale Pharmacy<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>An individual can engage in the wholesale sale of the drug only in the physical presence of either of the following:<\/p>\n\n\n\n<ol><li>The registered pharmacist or in front of a competent person who needs to be a graduate with at least 1 year of experience in trading with drugs; <\/li><li>A person who has successfully passed S.S.L.C with 4 years\u2019 experience in dealing with drugs, which are specially approved by the department of drugs control&nbsp;for the purpose;<\/li><\/ol>\n\n\n\n<h4 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Retail_Pharmacy\"><\/span>Retail Pharmacy<span class=\"ez-toc-section-end\"><\/span><\/h4>\n\n\n\n<p>An individual can engage in the retail sale of the drug only in the physical presence of a registered pharmacist, who is approved by the department of drugs control. Further, it shall be considerate to note that the Registered Pharmacist needs to be present throughout the working hours.<\/p>\n\n\n\n<p><b>Also, Read:<\/b> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/learning\/guidelines-for-retention-of-drug-license\">Know What are the Guidelines for Retention of Drug License<\/a><\/mark><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Business_Plan_to_Open_a_Medical_Store_in_India\"><\/span>Business\nPlan to Open a Medical Store in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The steps that an applicant requires to follow to open a Medical Store in India are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Business-Plan-to-Open-a-Medical-Store-in-India-heading.png\" alt=\"Medical Store Business Plan\" class=\"wp-image-16895\" width=\"521\" height=\"396\" srcset=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Business-Plan-to-Open-a-Medical-Store-in-India-heading.png 1000w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Business-Plan-to-Open-a-Medical-Store-in-India-heading-300x228.png 300w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Business-Plan-to-Open-a-Medical-Store-in-India-heading-768x584.png 768w\" sizes=\"(max-width: 521px) 100vw, 521px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Outline_the_Scope_of_the_Business\"><\/span><strong>Outline the Scope of the Business<\/strong><strong><\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Nowadays, a lot of\nalternatives and replacements of traditional antibiotics are emerging regularly.\nAs a result, it is better to explore and research all the available\npossibilities.<\/p>\n\n\n\n<p>Further, India being\nthe country of celebrated traditions, makes a lot of use of natural medicines\nand other sources of healing. The same has been provided in our Samhitas and\nVedas. Further, the term \u201cnatural medicines\u201d includes Siddha, Unani,\nHomeopathy, and Ayurveda.<\/p>\n\n\n\n<p>Also, it is possible to\nhave a composite pharmacy which provides a combination of the different types\nof medicines to supply a larger market segment.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Decide_the_Type_of_Business_Structure\"><\/span>Decide the Type of Business\nStructure<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Currently, many people who want to open a Medical Store in India go for the option of taking franchisee for a large conglomerate, such as Ranbaxy, SBL, Apollo, etc. the reason behind the same is its lucrative nature and ready market supply chain, which makes the customer reach easy and smooth. Also, the main benefit of taking franchisee is that it saves the cost regarding the expenses as follows:<\/p>\n\n\n\n<ol><li>Acquiring New Customers.<\/li><li>Promotional and Advertising Costs.<\/li><li>Discounts and Freebies.<\/li><\/ol>\n\n\n\n<p>However, it shall be pertinent to note that if in case the applicant wants to open a Medical Store in India of his\/her own then. In that case, the cost and expenses concerning Brand, Investment, and Strategies will differ. Further, the applicant would require branding consultants, medical professionals for research and study, sales and managing staff in its initial years.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Manage_Expenses\"><\/span>Manage Expenses<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Once the applicant has decided its functional staff, he\/she would then require to arrange finance for carrying out operations of a Pharmacy Store. Further, the term finance includes the following:<\/p>\n\n\n\n<ol><li>Fixed Element for meeting operational expenses, such as Electricity, Rent, Salaries, etc.<\/li><li>Working Element for purchasing inputs, medicines.<\/li><li>Operational Element for meeting contractual obligations.<\/li><\/ol>\n\n\n\n<p>However, it shall be\nnoteworthy to note that a hospital pharmacy will tend to have different\nfinancing requirements from a standalone drugstore or a brand\u2019s chain pharmacy\nstore.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Establish_Research_Facility\"><\/span>Establish Research Facility<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Unless an individual is thinking of only trading and dealing with wholesalers and selling medicines through his\/her own facility, then, in that case, he\/she would require to have a research unit of his\/ her own. <\/p>\n\n\n\n<p>Further, it shall be significant to state that for a simple unit is required for natural remedies and homoeopathic combinations. In contrast, antibiotics and complex drugs research may require the owner to engage more trained professionals and to maintain a dedicated laboratory. <\/p>\n\n\n\n<p>However, this decision\nwill largely be based on where the applicant sees their business in the coming\nyears.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Obtain_a_Drug_License\"><\/span>Obtain a Drug License<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>The regulatory\nauthorities from which an applicant requires to obtain a Drug License to open a\nMedical Store in India are as follows: <\/p>\n\n\n\n<ol><li>Central Drugs Standard Control Organization (CDSCO) <\/li><li>State Drugs Standard Control Organization (SDSCO)<\/li><\/ol>\n\n\n\n<p>Further, the standards,\nrules, and regulations are prescribed by the CDSCO, whereas, the authority to\ngrant the certificate for Drug License is with SDSCO. However, the State Drugs\nStandard Control Organization will grant the license only after getting\nsatisfied with the requirements as follows:<\/p>\n\n\n\n<ol><li>Total Area Possessed;<\/li><li>Infrastructure requirements, such as refrigeration, air\nconditioning, freezing for some specific drugs;<\/li><li>Engaging a qualified, experienced, and registered pharmacist\npossessing specified qualifications, etc.;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Other_Documents_and_Approvals\"><\/span>Other Documents and Approvals<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>It is always suggested\nto have all the documents and record ready with you to avoid any later stage complexity.\nThe term documents include mainly the guaranteed contracts with suppliers,\nrental agreements, hospitals, tax registration under GST, retailers, and other\napprovals as specified by state laws.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Documents_Required_to_Open_a_Medical_Store_in_India\"><\/span>Documents Required\nto Open a Medical Store in India<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The documents required to open a Medical\nStore in India are as follows:<\/p>\n\n\n\n<ol><li>Application Form for Registration in the prescribed format;<\/li><li>Covering Letter with the intent of the registration application form that is duly signed with the name and designation of the said applicant;<\/li><li>Challan of the Fee deposited for obtaining drug license in India;<\/li><li>Declaration form in the prescribed Performa;<\/li><li>Blueprint of the Key plan for the premises;<\/li><li>Blueprint of the Site Plan for the premises;<\/li><li>Basis of possession of the premises;<\/li><li>In the case of the rented property, then rent agreement or lease deed; <\/li><li>In the case of owned property, proof of ownership of the premises;<\/li><li>Proof of business constitution in the form of Incorporation Certificate \/MOA (Memorandum of Association) \/AOA (Articles of Association) \/ or Partnership Deed;<\/li><li>Affidavit of non-conviction from the sole proprietor\/partners\/ directors prescribed under the provisions of the Drugs and Cosmetics Act, 1940;<\/li><li>An affidavit from a registered pharmacist or from a competent person who is working on a full-time basis;<\/li><li>Appointment letter of the registered pharmacist or the competent person, if the applicant is the self-employed person;<\/li><\/ol>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Licenses_Required_to_Open_a_Medical_Store_in_India\"><\/span>Licenses Required to Open a Medical Store in\nIndia<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The licenses required to open a Medical Store in India are as follows:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Licenses-Required-to-Open-a-Medical-Store-in-India-heading.png\" alt=\"Licenses Required to Open Medical Store\" class=\"wp-image-16894\" width=\"549\" height=\"345\" srcset=\"https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Licenses-Required-to-Open-a-Medical-Store-in-India-heading.png 1000w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Licenses-Required-to-Open-a-Medical-Store-in-India-heading-300x189.png 300w, https:\/\/swaritadvisors.com\/learning\/wp-content\/uploads\/2020\/11\/Licenses-Required-to-Open-a-Medical-Store-in-India-heading-768x483.png 768w\" sizes=\"(max-width: 549px) 100vw, 549px\" \/><\/figure><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Company_Registration\"><\/span>Company Registration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>To open a Medical Store in India, the\ndifferent forms of business structure to choose from are as follows:<\/p>\n\n\n\n<ol><li>Sole Proprietorship Registration;<\/li><li>Partnership Firm Registration;<\/li><li>One Person Company Registration;<\/li><li>Private Limited Company;<\/li><li>Limited Liability Partnership Registration;<\/li><\/ol>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"GST_Registration\"><\/span>GST\nRegistration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Any business entity, including a pharmacy or medical store, must obtain <strong><a href=\"https:\/\/swaritadvisors.com\/gst-registration\" class=\"text-primary\">GST Registration<\/a><\/strong> from the government if the aggregate business annual turnover in a financial year crosses the threshold limit of Rs 40 lakhs. <\/p>\n\n\n\n<p>Further, the limit is reduced to Rs 20 lakhs by the GST Council for all the North-Eastern Hilly states.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Shops_and_Establishment_License_or_Gumasta_Registration\"><\/span>Shops and Establishment License or\nGumasta Registration<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>According to the Municipal Rules of the respective municipal corporation, one needs to first acquire <strong><a href=\"https:\/\/swaritadvisors.com\/shop-establishment-license\" class=\"text-primary\">Shop and establishment license<\/a><\/strong> from the authorities to open a Medical Store in India.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Drug_License\"><\/span>Drug License<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Before starting\nwith the operations, it is necessary for every medical store, whether it is big\nor small, to acquire drug license from the Central Drugs Standards Control\nOrganization (CDSCO) and State Drugs Standard Control Organization (SDSCO).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In a nutshell, every\nembryonic entrepreneur must understand the concepts and requirements as stated\nabove to make a big impression in the Pharma sector. <\/p>\n\n\n\n<p>Further, a clear business plan elucidates about the methods and journey of an entrepreneur towards success and will always allow him\/her to have believed in his\/her cause even in the worst of times.<\/p>\n\n\n\n<p>At Swarit Advisors, our professional will assist you with the process of obtaining drug license and how to open a Medical Store in India.<\/p>\n\n\n\n<p><b>Also, Read:<\/b> <mark style=\"background: #fffd03 !important;\"><a href=\"https:\/\/swaritadvisors.com\/learning\/how-to-obtain-a-drug-license-certificate-in-india\/\">How to obtain a Drug License Certificate in India?<\/a><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In India, Pharmacy or Medical Store Business is considered\u201cEvergreen\u201d, as the same is not affected by any economic cycles or pandemic, such as COVID \u2013 19. Also, due to the increasing popularity of multi-speciality and corporate hospitals, India is witnessing significant growth in its Pharmacy sector. Further, to open a Medical Store in India, the [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":16945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[494],"tags":[971],"_links":{"self":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/16892"}],"collection":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/comments?post=16892"}],"version-history":[{"count":13,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/16892\/revisions"}],"predecessor-version":[{"id":16917,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/posts\/16892\/revisions\/16917"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/media\/16945"}],"wp:attachment":[{"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/media?parent=16892"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/categories?post=16892"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/swaritadvisors.com\/learning\/wp-json\/wp\/v2\/tags?post=16892"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}