Association of Biotechnology Led eneterprise (ABLE) was formed in AprilÂ 2003 to accelerate the pace of growth of the biotechnology industry in India,interfacing between the industry, Government, academic and researchÂ institutes and domestic and international investors
By Dr PM Murali, President, ABLE India
Biotechnology remains aÂ great hope for the countryÂ with its potential to impactÂ health, food and energyÂ security and effect environmental remediation.Despite the challenges inÂ the last three years with the globalÂ financial crises, the Indian biotech industry
grew steadily at close to 20 percent per annum in revenues. The nextÂ three years should be even more exciting.With the new leadership teamÂ at ABLE achieving tangible advocacyÂ impact we will see the industry chartingÂ a strong course ahead.ABLEâs ten successful years inÂ India has been a great journey toÂ boost the biotech sector in the countryÂ which has grown many fold overÂ the years and the domestic industryÂ is now recognised globally in terms ofÂ its talent and research prowess. WeÂ are very happy to announce awardsÂ for outstanding contribution to theÂ Indian biotech sector which will encourageÂ all stakeholders to enable theÂ industry to grow exponentially.According to the statement issuedÂ by the ABLE, few of key roadblocksÂ that the industry is currently facingÂ are the fuzzy regulatory environmentÂ that is delaying the developmentsÂ in the area. Healthcare sector is theÂ most regulated in the world and delayingÂ development further would hamperÂ the progress of bringing out vitalÂ healthcare products. Also, the GovernmentÂ should come up with an affordableÂ health policy that clearly statesÂ how Intellectual Property (IP) rightsÂ of innovative companies are protected.This will cast away the doubts thatÂ foreign companies have in settingÂ research and development facilitiesÂ in India. Although opportunities areÂ available, connection and communicationÂ is required for bridging the gap.Today the market size is USD five billionÂ and expected to go over 80 billionÂ by 2025 with a current growth rate ofÂ 18-21 percent.ABLE has played an essential roleÂ in assisting the Government to developÂ a road map for the next decade in associationÂ with the Department of BiotechnologyÂ (DBT), Government of India.This lays the foundation for the industryÂ to grow to a USD 100 billion industry.Additionally, ABLE has also helpedÂ to devise the roadmap for biosimilars,which was done in association withÂ Department of Pharmaceuticals (DoP),outlining the new bio-economy.The key highlights where ABLE hasÂ played a role in assisting the GovernmentÂ include â
â¢ Development of a road map for theÂ next decade done in associationÂ with the Department of Biotechnology,Government of India
â¢ Road map for Biosimilars done inÂ association with Department ofÂ Pharmaceutical, Government ofÂ India
â¢ Biosimilars guidelines successfullyÂ launched by the Government lastÂ year to guide the growth of this industry.
ABLE provides roadmap for theÂ biotech Industry, building the BiotechnologyÂ Entrepreneurship StudentsÂ team (BEST) and North East Life ScienceÂ Entrepreneurship (NEST) programs,the BioInvest Program and theÂ International promotion of Brand IndiaÂ through organising the India PavilionÂ in various BIO Shows for encouragingÂ students. The biotechnology companiesneed a balance between investmentÂ and regulation