India's biotech growth slows to 20%

After five years of rapid expansion, India's biotech industry growth has slowed to 20 percent from previous highs of 50 percent, according to the Association of Biotech Led Enterprises (ABLE). The rising rupee and pricing pressures in the world market are to blame. "The inability to sustain the growth momentum can be attributed to several factors; the primary one being that revenues from Indian-made innovative biotech products that can be sold globally are yet to kick in," said K.K. Narayanan, president of ABLE. Still, the country is expected to bring in between $13 billion and $16 billion by 2015.

- here's the report