What are the Requirements to Start an Ayurvedic Marketing Company – Planning to establish an Ayurvedic Marketing Company in India? Don’t know the requirements to commence Ayurvedic Marketing? Then you have landed on the right spot as you will get to know the eligibility criteria and every ins and out of the Ayurveda sector. As we know that Ayurveda is revered as the most effective way to cure diseases of their roots so this traditional method is gaining popularity now and your decision of investing in this sector worthwhile and rewarding too.
Well, the is decision is wise but prior research is a major concern in every business so have examined the field formerly? Might not, but don’t worry we will help you and answer your quests by giving all the required details about the Requirements to Start an Ayurvedic Marketing Company. But before delving deep let’s analyze the field together. Ayurveda is a vast field in which everyone wants to try hands and seeks profits as the industry is already growing at a fast pace further forecasted to grow at a healthy CAGR throughout the whole period of 2018-2023.
Moreover, people domestically as well as globally are preferring synthetic medicines rather than modern ones seeing the side-effects offered so the demand for quality ayurvedic medications and products has increased a lot in the last decade that has created and intensified the scope of investing. So if you are an individual, career seekers, and other aspirants looking to establish its profitable venture by establish an ayurvedic marketing company then let’s dive deep to know the Requirements to Start an Ayurvedic Marketing Company.
Licenses Required to Start an Ayurvedic Marketing Company
AYUSH License is a major element of every ayurvedic marketing company and without it nor they can market neither they can manufacture ayurvedic products and medications. And AYUSH authority issues three types of licenses which include: Complete Manufacturing License, Loan License, and Contract Manufacturing License. Let’s know about them in-depth.
- Loan License: It is a manufacturing license where you manufacture your products while loaning a manufacturing unit of a third-party manufacturer. In this type of license, the authority permits when requested with a GMP-certified manufacturer.
- Contract Manufacturing License: In it, you will use the license of a third-party manufacturer to just market the manufactured products. You don’t need to own any manufacturing units and don’t need to obtain any own license.
- Complete Manufacturing License: In this case, you can market as well as manufacture your Ayurvedic products so you have to set up a production unit and have to fulfill all the requirements affirmed by the state authority of AYUSH.
Thus, these are the license that you can get from the authority and easily set up your ayurvedic marketing company in India. So get an AYUSH license to climb the first step of the process!
Eligibility Criteria To Get Ayurvedic Franchise
Although the Ayurveda doesn’t require shuffle-paperwork by there are some requirements that everyone needs to fulfill like GST number, manufacturing license, adequate premises, etc. So Let’s know what are the requirements that you need to fulfill.
- The name for a new Ayurvedic company should be unique and selecting a name is always an important and tough task. So the name of your company should satisfy your business identity, should be unique, short, easily rememberable, and retractable. Further, the name shouldn’t contain any silent character.
- The manufacturing license number also plays a vital role, the firm must have a manufacturing license number from authorities like AYUSH.
- Area requirement is also a major concern, the area requirement always depends upon the number of sections you want to start but the minimum is required under the drug act is 1200 square feet.
So if you fulfill the eligibility criteria for an ayurvedic marketing company then you can move to the further step. let’s know about the essential documentation needed to start an ayurvedic marketing company.
Essential Documents required to Start an Ayurvedic Marketing Company
As Documentation and procedure of ayurvedic manufacturing units vary from state to state or area to are but we will know the standard documents required to start an Ayurvedic Marketing Company in India. Following are the documents that are needed to start an ayurvedic company in India.
- Application on prescribed Form 24-D.
- Pay the Prescribed Fees
- The requirement and conditions of schedule ‘T and Rule 157 should be fulfilled respectively.
- The license will be issued Form 25-D which will be valid for a certain period from the date of issue.
- Documents in respect of technical staff consisting at least one person (whole-time employee) who possesses the qualifications as competent person staff.
- Site Plan of the premises.
- No Objection Certificate from Pollution Control Board. (Attested copy)
- Certificate of Power Availability from the Local Electricity Board.
- List of Machinery equipped with types of equipment.
- Medicine list to be manufactured.
- Report of the project.
- Ownership proof (Deed or rent agreement)
In conclusion
As we stated that the scope of investing in an ayurvedic marketing company in India is quite high so if you are planning to enter the ayurvedic industry or want to set a benchmark in the field then establish an ayurvedic marketing company by fulfilling the above-mentioned requirements or eligibility criteria. We hope that all of your doubts regarding the requirements for an ayurvedic marketing company are clear!
