Why are pharmaceutical APIs imported from China much cheaper than the ones manufactured in India?

10 Steps to Start Your Own Manufacturing Industry

Like any other business, the manufacturing sector is receiving a lot of attention from the first generation entrepreneurs who make up the majority of the MSME segment in India today. Before starting the unit, it brings us to the question of what are the most important things an entrepreneur should focus on.

1.Market Research - Do extensive market research to understand what is the best business to establish in your location and budget and identify your key USPs to implement the product business idea. You can mainly rely on secondary market research or hire a professional to complete the floor analysis and submit a full project report. There are several types of research reports, such as the feasibility analysis report, the preliminary market research report, the technoeconomic feasibility report (TEFR) and the detailed project report (DPR) that cover various aspects of the project proposal .

2.Site selection / land acquisition: This is often done by industrialists in consultation with local industrial boards and land acquisition courts. But there are some considerations to keep in mind that food processing plants should not be installed alongside chemical plants, textile units, slaughterhouses or poultry units. There are still some restrictions based on the type of industry chosen.

3.Plan Your Financing / Financing - Once you've got the right manufacturing business idea down, you should find a good planning consultant to help you sort through finances. Most MSMEs can apply for loans at preferential rates and there are many governments. A good industrial consultant can introduce you to SIDBI projects.

4.Approvals / Authorizations / Certifications - A well-qualified consultant who can connect with the government and obtain the necessary licenses, approvals and certifications is clearly aware that you can save money and meet the requirements of international and export markets.

5.Launch / Sell Activity: We have seen from past experience that it is imperative to start a replacement and sales activity as soon as the TEFR is completed, as it gives you more time to meet changing market demands. We have managed projects in various sectors related to spare parts sales and activities in India and in international markets. The consultant helps address barriers to accessing new products.

6.Store Design / Construction - In many cases, the industry is looking for talented designers who can suggest the best way to design store floor design and building and equipment construction during store floor design rework.

7.Plant setup and machine storage - Since industry design and actual implementation require a lot of technical expertise, we recommend that you use the best industry consultants to assist you. This will ensure that manufacturing industry best practices are committed from the start. Acquisition is also a complicated business and a good production consultant can guide you through the best way to obtain machine tools from national or international markets at a good price. People are often dependent on Chinese imports, but they are heavily subsidized by imported goods and subsidized to buy at the Make In India unit, making local machines often expensive.

8.Raw materials and human resources: Another concern is the accumulation of raw materials, where it is estimated that there may be between 16 and 19% of the total cost of production, depending on where the raw materials are stored. Recruiting the right talent and playing a key role most of the time, it's important to gain access to the right local talent pool.

9.Cargo production, prototyping and quality controls: One of the most important aspects that most new entrepreneurs overlook when establishing a new plant is the importance of testing and having good experts to help the industry complete the prototype and testing phase. Typically, industries must verify food, pharmaceuticals and chemicals in their finished products and obtain certifications / quality controls.

10.Supply chain management: Obtaining the right access to the market can lead to better sales, but without good logistics and delivery planning, order execution will have an impact on customer satisfaction. Many times, better distribution and SCM is required for customers to have access to specialized B2B and FMCG products. In the field of machinery and equipment, a good company will always accept product failures as part of a contract, since products for eternity are not manufactured and therefore a highly qualified customer service team is guaranteed.

The general bug of the solution has helped many entrepreneurs establish manufacturing industries by giving them access to the right consultants to guide them through the entire manufacturing and setup process.