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Mystery Of India’s Dismal 4% November Growth Hidden In Diwali Puzzle

 
• By Vikas Dandekar

As doctors, stockists and even patients take a Diwali break, sales targets for drug companies see an unexpected blip, albeit a temporary one.

MUMBAI – Last week when India’s market research agency AIOCD AWACS released monthly data showing only 4.1% growth for November, it left many in the drug industry puzzled. The industry has grown steadily at around 15% over the last few years, barring a few aberrations, and the data sparked speculation of early signs of an imminent downturn. But on closer look, the dismal November data could just be a result of higher growth recorded during the same year-ago period.

The entire genesis of fluctuation in numbers revolves around India’s most celebrated Diwali festival – a week-long celebration that generally sees a dip of around 6% in pharmaceutical sales, explains Ameesh Masurekar, director, AIOCD AWACS

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