The Indian pharmaceuticals industry is the third largest in volume and the thirteenth largest in value. India is also an important exporter of generic drugs to other countries across the world. If you are considering starting a pharmacy business then let me tell you that it’s a great idea.
This business has high success rates as it is not impacted by the economic cycle of the country. To start a pharmacy business you require less space and less capital investment so this is one option that is worth considering. In this article we will tell you how to apply for pharmacy drug license or certificate online in India.
Registering your business
The pharmacy business can be basically divided into four different types, based on the format. You can choose any of the following formats to set up your own pharmacy business:
Hospital Pharmacy: This type of pharmacy is set within a hospital to meet the requirements of the patients who are admitted.
Standalone Pharmacy: This is one of the most common formats that you can see around you. The standalone pharmacies are usually set-up in the residential areas.
Chain Pharmacy: You can see a chain pharmacy within a shopping mall or other posh areas. These are a part of the pharmacies chain.
Township Pharmacy: If the pharmacy is located within a township then this set-up is known as the township pharmacy
Most of the pharmacies in India usually come under the standalone format. The chain pharmacies and town ship pharmacies are growing in numbers but they are still way behind the race. The hospital pharmacies are usually owned by the large hospitals.
The registration process for any pharmacy is regulated by the Indian pharmacy Act of 1948. According to it, a pharmacist should register all this important documents with the state government by the help of a gazette officer. Once you have submitted your particulars, a registration tribunal will evaluate and decide whether or not the registration should be given.
The hospital, township and chain pharmacies are usually established under the private limited company constitution, whereas the standalone pharmacies come under the proprietorship or partnership constitution.
The registration through Limited Liability Partnership (LLP) constitution has gained a lot of popularity among the standalone pharmacists. It helps in promoting the rights of the different partners in a business.
In India if you wish to buy or sell anything, you need to give VAT so if you are setting up a business it is essential to get your VAT registration done. To do this, you need to contact the state’s VAT Department or Sale Tax.
Retail Drug License (RDL) for general chemist shop
Wholesale Drug License (WDL)to set up a business for drugs
Documents needed for the pharmacy license
Duly filled application forms
Receipt of fee deposited
Details regarding the possession of premises
Proof of ownership (if the premises is rented)
Proof of constitution law firm
Complete bio-data form
Blue print of site plan
Blue print of key plan
Affidavit of non-conviction of Directors/ Partners/Proprietorfalling under Drugs & Cosmetics Act-1940,
Experience Certificate of Registered Pharmacist/Certificate of Delhi Pharmacy Council/ Experienced person and qualification certificates
Affidavit of Competent person working full-time with the duly attested by Notary/Registered Pharmacist
To run a pharmacy business you need a registered pharmacist to work with your full time. We hope the above information helps you get a solution for how to apply for pharmacy drug license or certificate online in India.