Association of Biotech Led Enterprises (ABLE), the not for profit organization and representative of the biotechnology industry of India has voiced its aim to the Department of Biotechnology (DBT) for treading India into a growth path that it should follow. ABLE has put forward its recommendation of allocation of INR 50 bn funding for soft loans at 4% to 6% with 2 years freeze period and 5 years tax holiday from date of commercialization, larger Special Economic Zones (SEZs) meant for biologics, including biotech drugs under the free medicines scheme, preference to 100% indigenously manufactured biotech drugs for various government schemes, simplified procedures for obtaining various approvals, including biotech medicines like insulin, mabs and recombinant proteins in the list of essential drugs.
India is progressively gaining a leading position in the area of biotechnology through its worldwide exports and has portrayed the ability to give tough competition toUSA, European Union and Japan in the near future.
Source: Pharmabiz