You are the first generation pharmaceutical entrepreneur. How is your journey so far ?
Prakash Jotaniya: My journey has been exciting with so much learning & like a roller coaster. It has been challenging & not so easy. From 2006 to 2010, I did my B.Pharm from RK university. After finishing my B.Pharm, I started doing job in Sun Pharma. After doing two years’ job, I did by my MBA in international marketing. Once MBA was over, I joined Sanofi India as marketing manager. Later on I quit the Job in Sanofi India & started my own venture named Healthgenic Chemicals in Morbi, Gujarat. Initially we did not know much about the technicalities. I took guidance from my friends, teachers, colleagues on number of aspects like how to start API industry, how to run a manufacturing unit, what are the rules & regulation. It is almost 2 years now & it has been fascinating journey so far.
You started the company at a different location than most popular areas of pharmaceuticals in Gujarat. What was your idea behind this ?
Prakash Jotaniya: Yes, our manufacturing unit is located at Morbi, which falls in Saurashtra region of Gujarat & It is not a notified area for Pharmaceuticals. Morbi is known for ceramic industry but I can see that pharmaceutical industry is growing here as well. I started my company here so more & more entrepreneurs can be attracted here. Right now, there are around 6-7 pharmaceutical manufacturing unit around Rajkot. I believe that if you have the right attitude & skill set then you can grow in any part of country.
(Image: HealthGenic Chemicals Pvt Ltd located at Morbi, Gujarat)
Does location give you disadvantage in terms of business?
Prakash Jotaniya: Yes, there are difficulties but you cannot count it as a disadvantage. We do face some challenges like distribution of goods/availability of raw materials/maintenance of spare parts/getting good talent etc. but we are overcoming those challenges. If you have good quality product & good service, then you can overcome such challenges. At the end of the day you have to make your customer happy.
As they say, ‘Where there is a will, there is a way’
What challenges did you face while setting up a manufacturing unit ?
Prakash Jotaniya: There were lot of challenges like building & structure of facility, environment & pollution clearance, Inventory & project management.
You are in to API & intermediate manufacturing. How big is the market? How much will the market grow in next 5 years as per your calculation ?
Prakash Jotaniya: Next 5 years, API market will ground around 10%. If you consider China, then China is de-growing at the moment as compared to India. China is likely to grow around 5-6% in next 5 years while India will grow around 10%. India is likely to have robust growth in terms of API. Earlier, we were dependent on China but situation is becoming reverse. Now a days, Indian companies are also sending API to China. API market is likely to grow faster than any other market. India is likely to be in top five exporting countries for API in next 2-3 years. India may move to top three in next 6-7 years for exports of API. I feel that Indian pharmaceutical market is likely to have robust growth.
You have worked in marketing field as well. What will you consider more difficult marketing or manufacturing ?
Prakash Jotaniya: That is tricky question for me. I like both the fields. After finishing my B.Pharm, I thought that I will work in manufacturing sector. However, from my inner capability I came to know that marketing job is more suitable to me. I really enjoyed marketing experience in my previous organizations. That’s why I have selected marketing portfolio in my organization.
What will be your advice to young entrepreneurs who wants to start their journey in manufacturing sector ?
Prakash Jotaniya: First start with market research of your work. Try to do ground work before your start. Try & ask some questions to yourself like what to do, what not do, how to do. Identify your customer. Identify resources for your raw material. Identity what will be market trend for next 5-10 years. Identify your directions.
Have you set goals for your company & yourself? For example I want to see my company at particular level in next 5 year or 10 years.
Prakash Jotaniya: Yes, every organization is having some dream & vision to reach at some level in certain time. Currently, we are state GMP certified plant & we have designed our plant to comply with global regulatory standard like WHO GMP, US FDA, EU GMP. Our short term vision is to become leading API manufacturer & supplier in Saurashtra & Gujarat region. We want to apply WHO GMP & GLP in next 2-3 years. Long term is goal to pass the audit of regulated market like US FDA & EU GMP.
What is your vision for the company ?
Prakash Jotaniya: To provide professional service with quality API.