Bangalore: The Association of Biotechnology Led Enterprises (ABLE), a representative organisation of the Biotechnology industry, was launched on April 16 with BIOCON chairman and managing director Kiran Mazumdar Shaw becoming its founder president.

"I believe that we needed an organisation similar to National Association of Software and Service Companies (NASSCOM) of IT. We will endeavour in ABLE to do this job ably," Shaw said at the launch attended by representatives of Biotech companies, government research and development institutions and officials.

She said ABLE will enable close interaction with scientists, academicians, government, investor community and the biotech industry. "ABLE will become the collective face of the biotech industry."

She said it would also collate and provide information on the sector to the public and students, besides interacting with the government on various regulatory problems.

Launching ABLE, ASSOCHAM president K L Chugh said that to take India's gross domestic product (GDP) growth to eight per cent, there was a need to include BT in agriculture.

He said the government should set-up a $ one billion venture fund to promote BT, which in turn would drive private investment in the sector.

ABLE, to be headquartered in Bangalore, will have Shantha Biotech chairman Varaprasad Reddy as vice-chairman, Strand Genomics chief executive officer (CEO) Vinay Chandru as general secretary and AvasthaGen CEO Dr Villoo Patell as treasurer.

PTI