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A lot of pharma manufacturer in India has cropped up since the recent years. The investments in this field have poured in from various quarters including FDI’s. The trend clearly indicates the fact that a number of opportunities lie ahead in this field in this country. There are in fact more than one number of reasons for this trend.
Firstly, the availability of skilled expertise in the form of human resources has added to the plus points of developing these industries in this part of the world. A number of educational institutes have cropped up offering degrees and post graduates in pharma field. The availability of skilled labor is a must for not just manufacturing but also logistics and supply chain management. In fact, there lies a huge challenge to monitor the quality of drugs produced. It is an area that requires great technical input and expertise. Even a small single mistake can spoil the good reputation of any brand in the existing market. Thus, efficient, fast and accurate foolproof quality checking is required. The fact is that in order to efficiently manage such mechanisms, a highly skilled workforce is mandatory.
Another factor that is laying a major role towards the development of pharma PCD companies in India is the cost effectiveness here. The overall production cost, including labor cost, transportation and power, etc. is still much lower as compared to the West here in India. Thus, even western drug majors are flocking into here for lower manufacturing costs, thus resulting in higher profit margins. India has however been given a strong competition by the Far East, although the advantage here is that communicative English is spoken by more people here. Hence, understanding of the drugs and their scientific components are easier here. Once again, we have to acknowledge the well-educated work force that is available out here.
The availability of well-skilled human work force has been another reason for the gamut of western pharma PCD Company to come here and invest. The work force can not only ensure faster and mass manufacturing, they also can take care of the quality checking and assurance effectively. Thus, the companies can keep their goodwill intact and also provide enough of drugs in the market.
Lastly, the huge world market is playing its part too. The global need for high end and life saving drugs is going up day by day owing to poor lifestyle. With increase in lifestyle diseases, the number of pharma PCD in India are also constantly on the rise.
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