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How to open a medicinal company in India
30-May-2023 (In Startup Law)
I would like to know what is required to open a buisness in India. I am completely new to this and would appreciate an in detail procedure. I would like to open a medicinal company in India, from which people, through a website, can order medicines globally. How should I start and what is significant in this type of buisness? I look forward to your reply, thanks!
1. Get your business incorporated as a company/LLP/proprietorship
2. Get a domain name registered in the same name
3. Get a pharmacist's licence and FDA approval for selling drugs online in India
4. Get Drug Establishment licence from FDA
5. Get registered with the Income Tax Dept for the relevant taxation applicable.
6. Get an e-commerce website designed.
7. Get terms of service, usage policy, and other documents drafted and uploaded on the website.
8. Get registered with a payment portal and link the portal to your website.
9. Negotiate contracts with courier service providers and make sure they are licenced to carry drugs
10. Start selling drugs in /India for some time till your company is established and starts making enough profits.
11. The get the approval of FDA to sell drugs internationally
12. Get the relevant licences from all the authorities in all the countries that you wish to sell drugs in.
13. Fulfil any other requirements necessary as per the laws of these countries.
14. Start selling drugs worldwide.
Although this process seems simple, it is in reality highly complex and time-consuming. Think twice before jumping in and if you decide to jump in, be prepared to go through it without looking back.
2. Get a domain name registered in the same name
3. Get a pharmacist's licence and FDA approval for selling drugs online in India
4. Get Drug Establishment licence from FDA
5. Get registered with the Income Tax Dept for the relevant taxation applicable.
6. Get an e-commerce website designed.
7. Get terms of service, usage policy, and other documents drafted and uploaded on the website.
8. Get registered with a payment portal and link the portal to your website.
9. Negotiate contracts with courier service providers and make sure they are licenced to carry drugs
10. Start selling drugs in /India for some time till your company is established and starts making enough profits.
11. The get the approval of FDA to sell drugs internationally
12. Get the relevant licences from all the authorities in all the countries that you wish to sell drugs in.
13. Fulfil any other requirements necessary as per the laws of these countries.
14. Start selling drugs worldwide.
Although this process seems simple, it is in reality highly complex and time-consuming. Think twice before jumping in and if you decide to jump in, be prepared to go through it without looking back.
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