BIO and the Association of Biotechnology Led Enterprises (ABLE) released a new report today, entitled Accelerating Growth: Forging India’s Bioeconomy, which present recommendations in support the growth of the country’s Bioeconomy.
India’s biotechnology industry is on the cusp of entering a new era when it can provide significant economic growth and development to the people of India and around the world. India already has many of the necessary ingredients needed in order to grow its bioeconomy, such as a talented and enthusiastic scientific workforce. However, not all the ingredients are in place in order for the country to reach the next level.
Biotechnology, like other industrial sectors, requires an ecosystem to nurture and sustain it. In the case of biotechnology, this ecosystem requires substantial input and assistance from the Government of India, at both the Central and State levels.
Efficient and effective governance, coupled with a regulatory system anchored in global standards, is needed in order to provide the necessary underpinnings to allow Indian companies to compete on the global stage.