India is the ____ Largest Producer of Medicine in the World and is Also a Large ___ of Medicine
By BYJU'S Exam Prep
Updated on: November 9th, 2023
India is the third largest producer of medicine in the world and is also a large exporter of medicine. According to the Minister of State for Chemicals and Fertilizers, Srikant Kumar Jena, India’s pharmaceutical industries ranked third in terms of volume, fourteenth in terms of value, seventeenth in terms of export value, and fourth in terms of generic production.
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India’s Ranking in Largest Producer of Medicine in the World
Although India is the world’s third largest producer of medicines, it is frequently stated that it lacks proper healthcare facilities due to a lack of a sufficient budget and facilities. Setting up healthcare facilities such as hospitals, laboratories, healthcare centers, blood banks, and so on necessitates a sizable budget. These facilities are required in India to prevent and treat the illness.
- India has a large number of hospitals, doctors, and clinics but they are not sufficient as the population of the country is very high.
- To cater large percentage of the population of India, there is a need for the establishment of more healthcare facilities.
- There is no doubt that India is one of the largest exporters of Generic medicine. It means we as a country produce low-cost medicines in high amounts.
- The importance of Indian Pharmaceuticals increased worldwide at the time of COVID-19 spread.
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