India’s surge in Patent Cooperation Treaty (PCT) applications has grown by 44.6%
MUMBAI, 29 October 2024: UPL Ltd., a global provider of sustainable agricultural solutions, has been recognized as the top Patent Cooperation Treaty (PCT) applicant in the Indian Science and Technology (S&T) clusters for agrochemical research.
This recognition comes from the Global Innovation Index (GII) 2024, which annually ranks the world's economies based on their innovation capabilities, with a focus on identifying and evaluating key regional science and technology hubs.
Expressing happiness, Dr Vishal Sodha, Global IP Head of UPL said, "We are honoured to be recognized as the top PCT applicant within the Indian S&T clusters for agrochemical research. At UPL, we believe that innovation is the key to solving the most pressing challenges in agriculture, and this recognition further strengthens our resolve to continue delivering impactful, sustainable solutions.”
“We extend our gratitude to the dedicated scientific community for their continued efforts in driving innovation and developing solutions that address the challenges of modern agriculture. We also acknowledge the support of our Intellectual Property (IP) team for their invaluable role in safeguarding these innovations through robust patent protection,” he further added.
The Global Innovation Index (GII) 2024 has identified four Indian S&T clusters—Bengaluru, Delhi, Chennai, and Mumbai—that are among the top 100 in the world. It evaluates 133 economies, highlighting regions with thriving inventor and scientific ecosystems. The index is based on a range of metrics, including R&D efforts, technology adoption rates, technology production, patents filed, and country’s economic context. This recognition reflects UPL’s dedication to innovation, empowering farmers and advancing sustainable agriculture.
India has shown remarkable improvement in global innovation rankings, climbing from 66th place in 2013 to 39th in 2024. The GII also notes that India, along with the Republic of Moldova and Vietnam, remains an innovation over performer, holding this distinction for the 14th consecutive year. India’s surge in PCT applications, which has grown by 44.6%, underscores the country’s growing leadership in global innovation.
