Consider the following statement:
I. DCGI is the central licensing authority for medical devices that fall under the Medical Device Rules 2017.
II. India ranks third worldwide for production by volume in pharmaceuticals sector.
III. India is the third largest provider of generic medicines globally. Which of the above statement is/are correct?

The Indian Pharmaceuticals industry plays a prominent role globally. India ranks 3rd worldwide for production by volume and 14th by value. The nation is the largest provider of generic medicines globally, occupying a 20% share in global supply by volume, and is the leading vaccine manufacturer globally. DCGI acts as an appellate authority in case of disputes regarding the quality of drugs and prepares and maintains the national reference standard for drugs. Furthermore, DCGI is the central licensing authority for medical devices that fall under the Medical Device Rules 2017.