According to IBEF 2021, the Indian pharmaceutical industry ranks _____ in the world on the basis of volume.

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SSC CGL 2023 Tier-I Official Paper (Held On: 14 Jul 2023 Shift 2)
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  1. 9th
  2. 5th
  3. 11th
  4. 3rd

Answer (Detailed Solution Below)

Option 4 : 3rd
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The correct option is 3rd.Key Points

  • Indian Brand Equity Foundation:-
    • It is a government of India initiative that works to promote the brand image and prestige of India.
    • IBEF was formed in 2003 and is headquartered in New Delhi.
    • The mission of IBEF is to develop India as a global brand. It works to promote India's diversity, richness, and culture.
    • IBEF also works to raise awareness of India and attract foreign investment.
    • According to IBEF 2021, the Indian pharmaceutical industry ranks 3rd in the world on the basis of volume.

Additional Information

  • Indian pharmaceutical industry:-
    • It is the largest provider of generic drugs globally and accounts for 20% of the world's generic drug exports.
    • India is also one of the world's largest producers of vaccines, supplying more than 60% of vaccines globally.
    • The Indian pharmaceutical industry is expected to grow at a CAGR of 11% to reach USD 130 billion by 2030. 
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