In 1945, a Goan entrepreneur Mr. Govind Ramnath Kare, who
was in the business of wholesale and retail trade of
pharmaceuticals, started a firm which he named Indo Continental
The principal business of this firm was to import pharmaceutical
formulations from Europe and distribute them in Western India.
However in 1947, after India became independent, the new Government
in its bid to encourage indigenous manufacturing of medicines
banned import of several formulations. Mr. G.R. Kare instead of
being discouraged, decided to venture into manufacturing of
Accordingly, on 23rd August 1947, a week after India's
independence, a new Company was founded with the intent to
manufacture and sell pharmaceutical formulations.
Thus, Indo Continental Trading Company became Indoco Remedies