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With reference to India's pharmaceutical sector, consider the following statements:
1. In terms of volume, India is the largest provider of generic medicines in the world.
2. 100% Foreign Direct Investment (FDI) is allowed under the automatic route for greenfield pharmaceutical projects.
Which of the statements given above is/are correct?
  • a)
    1 only
  • b)
    2 only
  • c)
    Both 1 and 2
  • d)
    Neither 1 nor 2
Correct answer is option 'C'. Can you explain this answer?
Verified Answer
With reference to Indias pharmaceutical sector, consider the following...
Answer : 
  • c)
    Both 1 and 2
 1 India is the largest provider of generic drugs globally. Indian pharmaceutical sector supplies over 50% of global demand for various vaccines, 40% of generic demand in the US and 25% of all medicine in the UK. Globally, India ranks 
3rd
 in terms of pharmaceutical production by volume and 14th by value.

FDI up to 100%, under the automatic route is permitted for
 
manufacturing of medical devices
. The above mentioned conditions will, therefore, not be applicable to greenfield as well as brownfield projects of this industry.

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With reference to Indias pharmaceutical sector, consider the following statements:1. In terms of volume, India is the largest provider of generic medicines in the world.2. 100% Foreign Direct Investment (FDI) is allowed under the automatic route for greenfield pharmaceutical projects.Which of the statements given above is/are correct?a)1 onlyb)2 onlyc)Both 1 and 2d)Neither 1 nor 2Correct answer is option 'C'. Can you explain this answer?
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