In view of the stiff competition being faced by the retail medical stores against the relatively strong branded medical stores that have established a chain of medical stores across the country, Sharanu Pappa, secretary of Hyderabad Karnataka Chamber of Commerce & Industry (HKCCI), a body of traders and industrialists, has demanded that the government bring out a uniform wholesale pricing mechanism for both the chain medical stores and the retail medicine stores to enable the latter to compete with the former and survive in business thereby sustaining the employment of hundreds of youths.
In a media note released here on Thursday, Mr. Pappa expressed apprehensions of retail medical stores with small investments collapsing against the onslaught of chain medical stores with heavy investments thereby rendering thousands of youths employed by the former jobless.
“Branded medicine companies that have established chains of medical stores across India are buying medicines from producers in a large-scale at very low prices and offering heavy discounts to customers. This is directly affecting the business of retail medicine stores that have been established with low investments. The onslaught of big players in the sector has pushed the retail business to the verge of collapse. The retail medical stores have provided employment opportunities to thousands of youths across the country and are supporting the livelihoods of their families,” Mr. Pappa said.
He then appealed to the government to intervene and bring out a uniform wholesale pricing mechanism for both the branded medicine stores (chain medical stores) and the retail medicine stores so as to enable the latter to compete with the former and survive in business.
