Manish Sethia

Founder

During FY24 (until February 2024), the exports of drugs and pharmaceuticals from In­dia stood at $25.02 billion, according to the India Brand Equity Foundation (IBEF). India has emerged as the larg­est exporter of generic medicines and vaccines globally, and many factors have significantly contributed to the growth of pharmaceutical exports in the country. Technological innovation and adoption in the pharmaceutical industry have also considerably con­tributed to the growth of exports in this sector. However, clients face sev­eral challenges when availing them­selves of the products. The availabil­ity of an extensive number of drugs under one umbrella is the first issue. Secondly, clients encounter problems regarding the quality of delivered products. If all the required products are not available from one supplier, clients are compelled to source prod­ucts from multiple suppliers, which leads to increased transportation and freight costs, as well as confusion in procurement and delivery.

Cariesco Group has emerged as a trustworthy pharmaceutical exporter, capable of supplying a vast array of pharmaceutical products, thereby eliminating supply chain challenges and ensuring a streamlined, cost-effective solution for their clients. Cariesco conducts the majority of its business operations through exports to Africa and is recognized as a 100 percent export business in India. The company was founded in 2011 and has become a reliable supplier for its clients in African countries.

“We have received one-star export house status from the government of India and have more than 100 products in our portfolio. We can act as the single point of contact for all kinds of product requirements,” says Manish Sethia, Founder, Cariesco Group.

Addressing SCM Challenges

As a 100 percent export unit, Cariesco needs to maintain order in its supply chain management. Clients can be given no room for complaints, and the company ensures complete client satisfaction. It has created a detailed SCM map for every client and clearly understands their requirements. The company uses modern technologies to track the process from the point of inquiry until the final delivery of products. Cariesco has developed an internal monitoring system powered by modern technologies that help it keep a strict watch over the process and offer timely intervention in case of any trouble. The company has grown steadily over the years, with a growing footprint in Africa, changing the healthcare landscape, and improving innumerable lives in those regions. The company is also making steady inroads into Latin America. To fulfill the pharmaceutical formulation needs of clients globally, the company has partnered with over 20 WHO-GMP & EuGMP approved manufacturers countrywide.

In terms of welcoming new technologies, Cariesco has taken a huge leap by entering the start-up ecosystem of the country. Recently, it launched a B2B pharmaceutical marketplace named Pharmstage. The platform facilitates both buyers and sellers to follow a seamless API trade, with special concentration on procurement and delivery. “We are trying to establish contact with as many manufacturers as possible and create a strong portfolio of products. We constantly strive to offer our customers the best-in-class products and create sustainable relationships with them. The pharmaceutical industry is constantly evolving, and we aim to stay ahead of the curve. Pharmstage is our advanced platform to seamlessly connect India’s pharmaceutical manufacturers with sourcing agents and traders, set to revolutionize how the industry operates,” states the Founder.

Looking Ahead

In the last 12 years, Cariesco Group has gained considerable recognition in the market with accurate consumer understanding and impeccable supply chain management. The company started with exports to Nigeria and currently supplies more than 100 different products to about 10 countries on the African continent. These include Mozambique, Angola, Senegal, Sierra Leone, Burkina Faso, and others. It has also recently started exporting to Portugal. Cariesco strives to innovate and optimize its operations to drive down costs and improve efficiencies. It aims to provide groundbreaking solutions to semi-regulated and regulated markets. The company aims to achieve excellence in everything it does to create significant value for all stakeholders.

In the coming years, the company has definitive expansion plans and aims to fulfill all of them. Firstly, it wants to expand its product portfolio and add more WHO-certified manufacturers under its umbrella. “We also want to expand to developed markets in Europe and are in the advanced stage of commencing business in Portugal. We plan to expand further in the next few years,” concludes the Founder.