Explanation:

Third option is correct.

National Biopharma Mission was launched in 2017 by the Ministry of Science and Technology. It is 250 million USD project and 50% of its funding will be from World Bank.

The pharmaceutical industry holds a promising future for India, and the National Biopharma Mission is anticipated to be the game changer for Indian Pharmaceutical Industries.
The mission aspires to create a conducive ecosystem to encourage entrepreneurship and indigenous manufacturing in the sector by strengthening technology transfer capabilities in the private and the public sector.
It aims to make India a hub for design and development of affordable, novel and effective biopharmaceutical products and solutions.

The mission strives to encourage entrepreneurship to transform the health standards of the people of India through affordable medicines.
A Public Sector Undertaking of Department of Biotechnology – Biotechnology Industry Research Assistance Council (BIRAC) is involved in the implementation of the mission. It is expected to integrate expertise from national and international corridors to provide strategic guidance and direction to yield promising results through the product development value chain.