Q. With reference to the Pharmaceutical Industry in India, consider the following statements:
1.India is the largest producer of pharmaceutical in the world.
2.The Indian government allows 100% Foreign Direct Investment (FDI) in Greenfield Pharmaceuticals.
3.India leads in vaccine manufacturing, contributing 60% of the world’s vaccines.
Which of the statements given above is/are correct?
Explanation –
Statement 1 is incorrect. The Indian pharmaceutical industry is the world’s third largest by volume and the thirteenth largest by value. India is the largest provider of generic medicines by volume in the world, not the largest producer of pharmaceuticals overall.
Statements 2 and 3 are correct. The Indian government allows 100% Foreign Direct Investment (FDI) in Greenfield Pharmaceuticals under the automatic route. Similarly in Brownfield Pharmaceuticals, the government also allows 100% FDI, with 74% under the automatic route and the remaining through government approval.
India is a leading global supplier of vaccines, accounting for about 60% of the world’s vaccines by volume. The country is known as the “pharmacy of the world” due to its strong manufacturing capabilities and affordable generic drugs.
Source: ForumIAS
