M/S Influx Healthcare
Creating the next benchmark within the Indian Nutraceutical market with its 16-quality hallmark
Quality is not an act; it’s a habit that defines a character and Dr Munir A Chandniwala has rooted this vision very well while laying the bedrock of his entrepreneurial journey. What he instituted 16 years ago at a microscopic level with 400 sq. ft. micro plant in Mumbai has schooled into a workspace of approx. 50000 sq. ft. with 300+ employees engaged in daily production activities. Started with a minim powder manufacturing section 16 years ago, Influx Healthcare, with its commitment towards the betterment of all remains at the forefront of the world of nutraceuticals with its market-leading products in Dietary supplements, to include Ayurvedic Medicines, Allopathy Drugs and will be starting with Cosmetic and Personal Care range by mid-2019. Fabricated in compliance with betterment, trust and loyalty, the organization has thoroughly blended the expertise in its departments like Capsules, Tablets, Liquid orals, Softgel, External preparations, Protein bars etc. Adding more stars to its sky, the firm has been recently registered with US FDA for nutrition products.
Shouldering the responsibility of carrying the legacy to newer heights, the sole impulsion and vision of Dr M. A. Chandniwala has spearheaded Influx towards newer heights and established the firm as a highly proactive, robust & diversified organization carrying a strong portfolio of scientifically proven products and an emerging global reach. While drumming up his basic graduation degree of B.Pharmacy, his heart was nurturing a vision to achieve something. Galvanized, he was able to transpire his company from scratch to something commendable. Over the years of hard work and with the right team, he made his company grow manifold in the Healthcare manufacturing sector. Dr Munir Chandniwala has a qualification of Masters of Business Administration, Master of Philosophy and is a Doctorate in Human Resources. With sound technical knowledge about his subject and ability to build a good team around has turned the odds. Well versed with the scientific concept and an ability to produce innovative products, he started M/s Influx healthcare in 2003 with the certifications such as GMP, ISO 22000, HACCP and also is a USFDA registered plant. Fortune shined quickly and M/s Influx Healthcare’s product line became the clear winner within the industry. With 5 Patents applied under his name, he aims to deliver concept-based products, with innovation, quality and aspires to increase the customer base over the years to come in the field of Nutraceuticals, Herbal & Cosmetics.
Today, Influx has grown to a vista where only a few have reached. What has been fueling the endeavor of this nutraceutical leader? Let’s know from the pacesetter himself.
What motivated you to start your venture? How did the thought come up?
While doing graduation in pharmacy, I was buttoned down to become an entrepreneur and had the vision to venture out in the healthcare sector. After starting my professional innings in production and marketing, I planned to float a company. Early in the year 2000, the concept of Nutrition Supplements was at the initial stage with only a handful of players. International market was already aligning for nutritional supplements in the late ’90s. With the prediction of the Indian industry growing in the healthcare sector, in the years to follow, it impelled my vision of entering into manufacturing in this industry space which could be capitalized.
Sports, Gym and Nutritional Supplements have seen a major transformation in the past few years. What Impact has it had on your company?
Going by a published report, the global Nutrition market is expected to reach $578 billion by 2025 at CAGR of 8.8 %, Demands of Brazil, China, India, South Korea, Poland, Mexico is growing at a rate of 9.7% compounded. Indian Nutraceutical market is expected to grow from $4 billion in 2017 to $18 billion in 2025, which means extrapolates the growth to be 21% every year. Adding more, the awareness of fitness and buying capacity of Indian Market has been growing year by year which means the expense per capita on personal care is expected to grow which makes a great potential market for future. M/s Influx Healthcare intends to invest in this market for the next few years to come.
What do you think is the most important things providers should consider when looking for customer engagement solutions?
Healthcare industry is related to scientific relevance. Exploring Scientific knowledge and adapting it to products is the key. Also, the customer should be made aware of the pros and cons of the product with their long-term effects. It has been seen that the packaging of products affects the psychological performance which is the key and creates positive vibes for that product. Pricing of the products should also be affordable and penetrative.
What kind of impact do you intend to make in Indian Healthcare space?
We want to create a product mix which appeals to a wide range of customer base. If you divide the Indian customer and their purchasing habits according to the region, the product which appeals will definitely vary. A 1st tier city’s customer will have a different choice of products which will be diverse than the 2nd and 3rd tier city/town. Influx wants to make the product mix which makes maximum impact on various customer bases.
How can we enhance the quality of healthcare products in India while not adding to cost?
Instead, to increase the affordability of products and introducing DPCO, I believe that the government should adopt an effective alternate model – Trade Margin Rationalization (TMR). It is imperative to focus on TMR as it imposes a cap on the margins across the value chain, rather than capping price of products. Industry expert’s recommendations have already been made to the Government of India for trade margins to be calculated on the point of the sale i.e. the distributor, rather than on the landed cost of products. While price caps disincentives innovation -fixing trade margins would restrict how much a product’s price can be raised from the import or manufacturing cost, yet innovation would still be rewarded.
In Digital World how will mobility change Nutritional healthcare Industry?
Businesses must reshape the way they strategize, utilizing technology to find more efficiencies and opportunities for collaboration. Mobility drives digital transformation and opens the world for business. The Access to supplements is on the tips of fingers. With great prospect one can market products on a digital platform and have a bigger customer base, however, the use of supplement should be rational and should be monitored as taking supplements without science and knowledge is no good, rather can have adverse effects.
What is the reason for your success? What does it take to become a successful entrepreneur?
Success is subjective, however, the reason I feel to reach this level of success is the ability to create a good core group of dedicated employees who are working towards the company’s vision and mission. Also, the product mix which my team have worked on over the years and the strategy of serving many medium scale companies rather than relying on a few large-scale companies has been working.
To become a successful entrepreneur, one should have a clear vision and set goals to be achieved in stipulated time.
So, what keeps you up at night?
The Idea generated and the eagerness to implement it keeps me excited.
What advice would you give for the future ‘Doctorpreneurs’?
As the industry is growing at a good pace, one should try to get into the space of innovative products with good scientific backup. Create a strategy to become a leader in concept rather than being a follower.