● Indian Pharmacopoeia Commission (IPC) is an autonomous institution of the Ministry of Health and Family Welfare. Hence statement 1 is not correct. ● Formed in 1956. Hence statement 2 is correct. ● Which sets standards for all drugs that are manufactured, sold and consumed in India. Hence statement 3 is correct. ● The set of standards are published under the title Indian Pharmacopoeia (IP) which has been modelled over and historically follows from the British Pharmacopoeia.