Business: Establishing a business is a common aspiration for many, yet financial constraints often hinder individuals from pursuing this goal. Today, we present a business opportunity supported by government assistance. We are referring to the Prime Minister’s Indian Jan Aushadhi Project, which was initiated in 2008. This initiative provides support to those interested in opening a pharmacy or medicine outlet. It is particularly suitable for individuals with a limited budget, as the government offers financial aid to help launch this venture, alleviating concerns about initial costs.
What is Prime Minister Indian Jan Aushadhi Project and how can it help you
According to information from the official website, applicants for the Jan Aushadhi Project must possess a D. Pharma or B. Pharma degree. If you do not hold either of these qualifications, you will need to employ someone who does, as proof of the relevant degree is required during the application process. Additionally, this business can be established by government hospitals or medical colleges, with priority given to charitable organizations. If a charitable entity wishes to start this venture, it must also hire an individual with the necessary qualifications.
Earn a profit margin of 20 percent
By participating in the Jan Aushadhi Yojana, you can earn a profit margin of 20 percent on the maximum retail price (MRP) of medicines. For instance, if a medicine strip is priced at Rs 100, your profit from its sale would be Rs 20.
Furthermore, individuals from ST/SC backgrounds, women, and persons with disabilities can avail themselves of additional benefits under this scheme. Notably, if a pharmacy is established in the Himalayan or North Eastern states, the government will provide an incentive of Rs 2 lakh.