Study shows high tech engineering, pharma as front runners of innovation in India
Biocon and Sun Pharma were honoured at Thomson Reuters’ India Innovation Awards 2014, announced at the recent launch of its 2014 State of Innovation India report. This is the second consecutive year of the study, which analyses innovation in 12 leading sectors based on patent activity for inventions originating from India, using the Derwent World Patents Index, Thomson Reuters’ proprietary patent database.
Hi-tech engineering and pharma companies emerged as as front runners of innovation in India. The study showcases twelve leading sectors and analyses the innovation in each based on patent activity.
Among the top 10 patent filers in India, eight of these are Indian organisations, Tata Consultancy, CSIR, Larsen & Toubro, Crompton Greaves, Infosys, Tata Motors, TVS Motor, Bharat Heavy Electricals. The two non-Indian top filers are Robert Bosch and Samsung India.
Computing & Control led the innovation activity drawing level with the pharmaceutical sector for the first time, while new sectors like high-tech and mechanical engineering displaced traditional chemical and agricultural industries.
“India is an important global innovation hub, with both local and global organizations conducting critical R&D activities in India. Patenting activity is growing rapidly and this has a direct impact on the country’s economic growth,” said Pradeep Lankapalli, Managing Director, India and head of global operation centres, Thomson Reuters India.
The India Innovation Awards are designed to recognise innovation and entrepreneurship in India, based on Indian patent publications. The awards honour the most innovative academic institutions and commercial enterprises headquartered in India for their spirit of innovation in R&D
Along with Biocon and Sun Pharma in the Corporate Pharma category, awards were presented to Infosys and Suxlon Energy representing the Corporate Hi-Tech sector, while IIT-Bombay and Defence Research and Development Organisation (DRDO) bagged honours in the Academic & Government category.
Reacting to the award Kiran Mazumdar-Shaw, Chairman and Managing Director, Biocon.commented, “Our focus on innovation has enabled Biocon to cross new milestones in the area of drug affordability through our range of biosimilars and biologics. The Thomson Reuters India Innovation Award 2014 validates the work that Biocon is doing in our pursuit to find solutions that heal the world.”
Dr Rajamannar Thennati, Head – R&D, Sun Pharma, said,”At Sun Pharma, innovation is the core of our organisation. In our business, innovation is directly linked to helping patients by providing medicines at affordable cost. We are focussed on finding solutions to complex scientific challenges, environmental safety and creating an intellectual asset for sustained growth.”
EP News Bureau – Mumbai