Stamping its excellence as a leading exporter, Venus Remedies Ltd (VRL), one of India’s leading research-oriented pharmaceutical firms, has emerged as the first pharma company in the country to have received the prestigious Responsible Export Organisation (REO) Certification from the Confederation of Indian Industry (CII) following an elaborate screening and assessment process.
Venus Remedies is among the seven Indian companies across diverse sectors which have been granted the CII’s REO certification this year. A comprehensive assessment of the organisational systems for governance, management, operations and consistency in delivered results, this certification is an endorsement of the company’s export capabilities and manufacturing prowess.
Being the first pharmaceutical manufacturer to receive this certification, Venus Remedies is poised to set industry standards which enhance the competitiveness of Indian exports while focusing on expansion in new and existing markets.
Hailing the achievement, Mr Saransh Chaudhary, President, Global Critical Care, Venus Remedies, and CEO, Venus Medicine Research Centre, said, “The REO certification from the CII will provide further impetus to our export business and give us an edge in global markets. Exports account for 70 per cent of our revenue, and this certification will enable us to go from strength to strength to emerge as an export powerhouse.”
Elaborating on Venus Remedies’ global blueprint for enhancing customer delight, Chaudhary said the company has been focused on achieving faster delivery timelines without compromising on quality by keeping the internal systems in line for superior manufacturing and services.
With a 360-degree approach to evaluating companies’ export competency, the stringent criteria for the certification covered various heads like leadership and governance, people skills and competencies, operations management, supply chain, customer focus, financial management, resource management, safety and other performance metrics. Apart from self-assessment and audits, the certification also took into consideration feedback from all stakeholders involved in product development and supply chain, right from the management to vendors and customers.
The CII REO certification is aimed at motivating Indian companies to take up unique practices of involving their people and replicating safety models and sustainable initiatives to meet the highest global standards for exports. The certified companies representing the Indian export market across the globe, are adhering to quality standards keeping pace with the global sustainability and delivery challenges, and are selected only if they are competent enough to keep raising the bar for export standards expected from India.
Venus Remedies has a global footprint in more than 80 countries across five continents, including regulated markets like the UK, Italy, Australia, Germany, France, Kazakhstan, South Africa, Mexico, Israel, Hong Kong, Saudi Arabia, Philippines, Thailand and Oman. As outlined in its Mission 2025, Venus Remedies aims to expand its global presence in at least 100 countries. Currently, it has 11 overseas marketing offices, more than 750 market authorisations and over 450 pending authorisations in regulated and emerging markets, apart from strategic alliances with leading multinationals. The company has more than 25 international GMP certifications from the European Union, WHO, Latin America, Australia, Saudi Arabia, Australia, Latin America, Ukraine, Zimbabwe, Uganda, Syria, Columbia, Kenya, Yemen, Indonesia and Iran, among others. Recently awarded the WHO Good Distribution Practices (GDP) certification, Venus Remedies is also a recipient of the Authorised Economic Operator certification from the Directorate of International Customs, Central Board of Indirect Taxes & Customs, Department of Revenue, Ministry of Finance.