Trade fairs very important promotional tool for SMEs: Rajeev Chhabra, MD, Ortho Care

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Saurabh Gupta | 03 Jul, 2015
Participation in global trade fairs is a very important marketing, networking and learning tool for small and medium enterprise (SMEs), Managing Director of Ortho Care, Rajeev Chhabra along with Manav Chhabra & Parth Chhabra said in an exclusive interview to SME Times. And to give a boost to SMEs in Orthopedic Industry, the Government of India must expand the limitations of its Marketing Development Assistance (MDA) Scheme, he added.

"In China if any orthopedic manufacturer participate in any exhibition outside China get 100 percent refund of all expenses including Air fare and stay from their government. But in India we do have MDA scheme but for very limited area and limited funding. We request to our Government that we should also get some more support to reach globally," he said.

India is ranked among the top 3 destinations for medical and surgical procedures and small and medium enterprise (SMEs) have played a huge role in taking the industry where it is today.

India's Orthopedic Industry is very young and requires nurturing for development. What is your take on this?
Rajeev Chhabra: Yes, it's true that orthopedic industry in India is at a very nascent stage and needs nurturing but even at this stage continuous development in the implants technologies have helped the Orthopedic Industry to maintain a steady growth of 7-10 percent over the last decade and this trend is expected to continue in the years to come.

Which countries are giving the Indian orthopedic Industry a tough competition?
Rajeev Chhabra: China and India represent the two rapidly growing markets for various surgical procedures. China having a very liberal economy could be a threat to the Indian Orthopedic Industry but the very cheap labor cost and good manufacturing facilities could be an equal reason to give china a tough competition. Also the Indian products are known for its longevity and durability, for which we will always have an edge over others.

India has become the new medical and surgical destination. What according to you are the reasons behind this sudden attraction?
Rajeev Chhabra: India is ranked among the top 3 destinations for medical and surgical procedures for the reasons as under :
1: Best of the medical facilities and expertise are not available in the parent country. This is mostly applicable to the developed and under developed countries
2: Long waiting list for minor or major medical procedures is maintained in countries like USA, UK etc
3: Higher cost of medical care
4: Convenience and speedy availability of medical care as per patient's choice
5: Efficiency of Indian doctors, supporting staff and personal attention in patient care
6: Improvement in technology, availability of state of the art infrastructure attract patients to India from world over.

Indian small and medium enterprise (SMEs) in this sector have been associated largely for this boom. Kindly comment.
Rajeev Chhabra: Absolutely. SMEs have played a huge role in taking the industry where it is today. Success of SME's can be attributed to below reasons :
1: The global demand for innovation in products
2: Demographic factors such as increasing disposable incomes for healthcare needs
3: Govt initiatives that ease the accessibility of funding for SMEs
Also with the advent of venture capital (VC) this scenario is expected to grow even further

How far have Trade Fairs and Exhibitions supported the growth for SMEs in this sector?
Rajeev Chhabra: They are an important tool in the development of this sector because they help in :
1: Benchmarking through meetings with competition and measuring own competitiveness
2: Increaseases innovation, research & development by the company as per the prevailing trends in the industry
3: Testing and launching of new products
4: Strengthening of own brand and image

So basically trade fairs are very important marketing, networking and learning tool for SMEs representing the majority of exhibitors and visitors taking part in the industry.

In china if any orthopedic manufacturer participate in any exhibition outside China get 100 percent refund of all expenses including Air fare and stay from their Govt. but in India we do have MDA scheme but for very limited area and limited funding. We request to our Government that we should also get some more support to reach globally.

Where do you picture Ortho Care in the next 5 years?
Rajeev Chhabra: Demand for orthopedic implants has grown astronomically over the last few years and we as a growing company in the years to come aim to contribute largely in the growth of the industry. We plan to do this by taking a pioneering approach to the design of our products, by striving to secure wide access to our diverse technologies for more customers globally. The mission is to work toward making sure that the implant corrects what needs to be corrected. Also as a manufacturing company our focus will be on continually improving the expected life of an implant, make it better and less complicated for the patient. Having said all that we see ourselves as the path breaking pioneers in the Orthopedic Industry.

What according to you are the best ways to reach out to buyers?
Rajeev Chhabra: A good mix of online and offline tactics can drive new business.
Domestic and international trade fairs offer a wide array of opportunities and a brilliant platform to showcase a company and access to humongous buyers. Similarly an increased visibility online could be a great enhancer to the business. Virtual trade fairs are another good tool to attract new buyers. Marketing outside your comfort zone could be another way to reach out to new buyers eg. teaming up with another successful person in a vertical business thus increasing your own pool of referrals.