A medical store can be started as a sole proprietorship or a partnership and even it can be registered under company law with Securities and Exchange Commission of the country.
The Medical Store Depots were originally established in different parts of the country under the Medical Stores Organization primarily to meet the needs of army units in respect of medicines, surgical equipments and other medical supplies.
The pharma market is growing at 27% annually. Reports peg the market at Rs 33,000 crore (US$ 5 bn). Revenue from pharmacies is expected to touch Rs 50,000 crore by 2010.
The drugstores industry, part of the larger food and staples retailing industry, is a high-volume, low-margin business, with cutthroat competition.