VetPlus reports sales growth following India trade deal

VetPlus has welcomed the government's move to improve trade links with India, saying easier access has helped double its sales in the country.

The Lytham-based family firm specialises in veterinary nutraceuticals and is benefiting from the business and trade secretary's lifting of trade barriers with India in 2022.

According to Pet Secure, there are approximately 10.2 million pet dogs and an expected 2.4 million pet cats in India, so ensuring that uninterrupted availability of VetPlus’ nutraceuticals – which form part of multi-modal treatment plans for a range of companion animal conditions – is important.

The resolution of the barrier was estimated to be worth £1.4m in sales to the company over the next five years at the time.

Market research firm Market Decipher estimate that the Indian pet food industry was worth $498 million in 2021 and is one of the fastest-growing markets globally, expected to grow by an average of 19 per cent each year over the next decade.

David Haythornthwaite, founder and chairman of VetPlus, said: "As an international business operating on every continent, it’s important that we can uphold the varied regulatory and compliance requirements in place across our markets.

"It has been great to work with the Department for Business and Trade to meet the change in requirements for the Indian market which meant that we could ensure the consistent supply and availability of our products for pet owners through their veterinary practices.”

Kemi Badenoch, the government's business and trade secretary said: "India is a massive market for UK companies and I am delighted to see VetPlus reaping the rewards after decisive action from the department meant their pet feed supplements could be stocked on Indian shelves.

"As we remove barriers to trade around the world, we create more opportunities for British businesses to export their excellent products, create more jobs, and unlock billions for the UK economy."