Question
Download Solution PDFAccording to IBEF 2021, the Indian pharmaceutical industry ranks _____ in the world on the basis of volume.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe 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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