According to IBEF 2021, the Indian pharmaceutical industry ranks ___ in the world on the basis of volume.
Show answer & explanation
Correct answer: D
Explanation
The correct answer is Option 4 i.e. 3rd.
According to the India Brand Equity Foundation (IBEF) in 2021, the Indian pharmaceutical industry ranks third in the world in terms of volume. The country is known as the "Pharmacy of the World" due to its significant production and export of generic medicines. The Indian pharmaceutical sector plays a crucial role globally, supplying affordable and high-quality medicines, including vaccines, to various countries. This position reflects India's substantial capacity for manufacturing and innovation in the pharmaceutical industry.