The correct answer is option 2: Rear Admiral in the Indian Navy.

In the Indian Army, the rank of Major General is a senior rank for officers who are in command of a division or a large brigade. They usually have around 20-30 years of service and are considered to be at the two-star rank level.

In the Indian Air Force, the rank equivalent to a Major General is Air Vice Marshal, not Air Marshal as mentioned in option 1. An Air Marshal is a higher rank in the Indian Air Force, equivalent to a Lieutenant General in the Indian Army.

Similarly, in the Indian Navy, the rank equivalent to a Major General is Rear Admiral, as mentioned in option 2. A Rear Admiral is a two-star rank in the Navy, and they generally hold important command positions.

Options 3 and 4, Air Commodore in the Indian Air Force and Commodore in the Indian Navy, do not correspond to the rank of Major General.

Thus, the correct answer is option 2: Rear Admiral in the Indian Navy.