The industrial hub of Baddi-Barotiwala-Nalagarh (BBN) in Himachal Pradesh is seeing a negligible impact of the economic slowdown.
This is mainly due to Baddi being a centre for the pharmaceutical industry and the fast moving consumer goods (FMCG) sector, say industrialists.
“Though our pharmaceutical exports are down due to a drop in demand, the domestic market has remained normal,” said Arun Rawat, general secretary of the BBN industries association.
Himachal Pradesh caters to around 60 per cent of the domestic pharma demand. “The demand is normal, except for a slight delay in payment in some cases,” Rawat told Business Standard, adding “A person can delay buying a car or some home appliance but not medicines, which is why there has been little impact on this sector despite the slowdown.”
There are around 375 pharma industries across Himachal of which 180 are in Baddi alone. Top pharma brands include Cipla, Dr Reddy’s, Cadilla, Wockhardt, Glenmark, Ozone, Panacea Biotech and Nicolas Piramal.
According to the latest figures available with the BBN, the pharma sector has witnessed an usual growth of around 12 per cent.
The FMCG sector too has recorded a normal growth of between 10 per cent and 15 per cent. Well-known FMCG brands including Godrej,Hindustan Lever, Procter & Gamble, Amway, Colgate Palmolive and Reckitt & Coleman have registered good growth margins in the just concluded financial year 2009.