Association of Biotechnology Led eneterprise (ABLE) was formed in April2003 to accelerate the pace of growth of the biotechnology industry in India,interfacing between the industry, Government, academic and researchinstitutes and domestic and international investors
By Dr PM Murali, President, ABLE India
Biotechnology remains agreat hope for the countrywith its potential to impacthealth, food and energysecurity and effect environmental remediation.Despite the challenges inthe last three years with the globalfinancial crises, the Indian biotech industry
grew steadily at close to 20 percent per annum in revenues. The nextthree years should be even more exciting.With the new leadership teamat ABLE achieving tangible advocacyimpact we will see the industry chartinga strong course ahead.ABLEs ten successful years inIndia has been a great journey toboost the biotech sector in the countrywhich has grown many fold overthe years and the domestic industryis now recognised globally in terms ofits talent and research prowess. Weare very happy to announce awardsfor outstanding contribution to theIndian biotech sector which will encourageall stakeholders to enable theindustry to grow exponentially.According to the statement issuedby the ABLE, few of key roadblocksthat the industry is currently facingare the fuzzy regulatory environmentthat is delaying the developmentsin the area. Healthcare sector is themost regulated in the world and delayingdevelopment further would hamperthe progress of bringing out vitalhealthcare products. Also, the Governmentshould come up with an affordablehealth policy that clearly stateshow Intellectual Property (IP) rightsof innovative companies are protected.This will cast away the doubts thatforeign companies have in settingresearch and development facilitiesin India. Although opportunities areavailable, connection and communicationis required for bridging the gap.Today the market size is USD five billionand expected to go over 80 billionby 2025 with a current growth rate of18-21 percent.ABLE has played an essential rolein assisting the Government to developa road map for the next decade in associationwith the Department of Biotechnology(DBT), Government of India.This lays the foundation for the industryto grow to a USD 100 billion industry.Additionally, ABLE has also helpedto devise the roadmap for biosimilars,which was done in association withDepartment of Pharmaceuticals (DoP),outlining the new bio-economy.The key highlights where ABLE hasplayed a role in assisting the Governmentinclude
Development of a road map for thenext decade done in associationwith the Department of Biotechnology,Government of India
Road map for Biosimilars done inassociation with Department ofPharmaceutical, Government ofIndia
Biosimilars guidelines successfullylaunched by the Government lastyear to guide the growth of this industry.
ABLE provides roadmap for thebiotech Industry, building the BiotechnologyEntrepreneurship Studentsteam (BEST) and North East Life ScienceEntrepreneurship (NEST) programs,the BioInvest Program and theInternational promotion of Brand Indiathrough organising the India Pavilionin various BIO Shows for encouragingstudents. The biotechnology companiesneed a balance between investmentand regulation