Magazine

Rising up The Ladder

Views: 726

Association of Biotechnology Led eneterprise (ABLE) was formed in April 2003 to accelerate the pace of growth of the biotechnology industry in India,interfacing between the industry, Government, academic and research institutes and domestic and international investors

By Dr PM Murali, President, ABLE India

Biotechnology remains a great hope for the country with its potential to impact health, food and energy security and effect environmental remediation.Despite the challenges in the last three years with the global financial crises, the Indian biotech industry
grew steadily at close to 20 percent per annum in revenues. The next three years should be even more exciting.With the new leadership team at ABLE achieving tangible advocacy impact we will see the industry charting a strong course ahead.ABLE’s ten successful years in India has been a great journey to boost the biotech sector in the country which has grown many fold over the years and the domestic industry is now recognised globally in terms of its talent and research prowess. We are very happy to announce awards for outstanding contribution to the Indian biotech sector which will encourage all stakeholders to enable the industry to grow exponentially.According to the statement issued by the ABLE, few of key roadblocks that the industry is currently facing are the fuzzy regulatory environment that is delaying the developments in the area. Healthcare sector is the most regulated in the world and delaying development further would hamper the progress of bringing out vital healthcare products. Also, the Government should come up with an affordable health policy that clearly states how Intellectual Property (IP) rights of innovative companies are protected.This will cast away the doubts that foreign companies have in setting research and development facilities in India. Although opportunities are available, connection and communication is required for bridging the gap.Today the market size is USD five billion and expected to go over 80 billion by 2025 with a current growth rate of 18-21 percent.ABLE has played an essential role in assisting the Government to develop a road map for the next decade in association with the Department of Biotechnology (DBT), Government of India.This lays the foundation for the industry to grow to a USD 100 billion industry.Additionally, ABLE has also helped to devise the roadmap for biosimilars,which was done in association with Department of Pharmaceuticals (DoP),outlining the new bio-economy.The key highlights where ABLE has played a role in assisting the Government include –
• Development of a road map for the next decade done in association with the Department of Biotechnology,Government of India
• Road map for Biosimilars done in association with Department of Pharmaceutical, Government of India
• Biosimilars guidelines successfully launched by the Government last year to guide the growth of this industry.

ABLE provides roadmap for the biotech Industry, building the Biotechnology Entrepreneurship Students team (BEST) and North East Life Science Entrepreneurship (NEST) programs,the BioInvest Program and the International promotion of Brand India through organising the India Pavilion in various BIO Shows for encouraging students. The biotechnology companiesneed a balance between investment and regulation

Recommended from all portals

Latest News

To Top