Page 136 - CW E-Magazine (14-5-2024)

Top Stories

JOINT EFFORT
SEA of India sets up forum to spearhead supply

of sustainable castor oil

The Solvent Extractors’ Associa-
tion of India (SEA), representing the
vegetable oil industry and trade, has
announced the formation of the World
Castor Sustainability Forum (WCSF)
to encourage a sustainable and trace-
able supply chain for castor oil while
improving economic, social, and envi-
ronmental performance of the sector.
Jayant Agro Organics, Gokul Overseas, petitive advantage, cost savings, access to
India has a dominant position in the Royal Castor Products, etc, along with capital, regulatory compliance, risk man-
global castor industry, producing about traders and service provider representa- agement, and long-term value creation.
20.0-lakh tons of castorseed per annum tives, gathered on May 1st, 2024, in
and meeting over 90% of the demand Ahmedabad to join the WCSF. SEA said Earlier, on 30th April, led by Gokul
for castor oil. SEA said the initiative is leading international buyers of castor Overseas, Sidhpur, nearly 30 Farmer
in response to the “global shift towards oil have also expressed interest in pro- Producer Organisations (FPO) agreed
renewable resources and the increasing moting sustainable castor oil by joining to collaborate with WCSF, to promote
emphasis on sustainability” and would WCSF. the cultivation of sustainable castor-
enhance economic self-suffi ciency and seed. This collaboration represents
livelihoods of smallholder producers. SEA said companies that embrace approximately 25,000 farmers joining
WCSF sustainability measures in line the movement in its inaugural year,
Leading players in the domestic cas- with the Indian Companies Act can expe- committed to adopting the guidelines
tor industry, including Adani Wilmar, rience improved brand reputation, com- set forth by WCSF.

MILESTONE IN IP
India grants over one lakh patents in a year

India has reached a milestone in its March 15, 2023 and March 14, 2024. Cooperation Treaty (PCT) system fell
mission to build an intellectual property This number stood at 82,811 for FY23. by 2% – its fi rst decline in 14 years.
(IP)-driven economy. For the fi rst time, However, India was among the few
Indian IP authorities granted over one Applications for all IPs – patents, nations that recorded growth in inter-
lakh patents in a single year. India’s copyrights, trademarks etc. – have risen national PCT applications as Indian
IP authority – the Controller General in India. Total patent applications innovators fi led 44.6% more applica-
of Patents, Trademarks, Designs and increased 24% from 2021-22 to 2022-23 tions in CY 2023 at 3,791 than previous
GIs – granted 1,01,311 patents between and has grown 9% in 2023-24. year. PCT is a global framework that
March 15, 2023 to March 14, 2024 as In line with India’s growing semicon- helps protect one’s IP in 150+ partner
per offi cial data. In FY23, the number ductor ecosystem, the applications fi led countries. However, India makes up a
of patents granted by the authorities towards protection of Semiconductor small part of the PCT community, and
stood at just 34,134. Integration Layout Designs (SCILD) is at the 11th spot worldwide. In FY
grew from just one in 2021-22 to eight 2022-23, the top PCT fi lers from India
With increased innovation and IP in 2022-23. were TVS Motor Company (88), Council
awareness among companies, universi- of Scientifi c and Industrial Research
ties and individuals, Indian authorities In a year of economic uncertainty, (CSIR) (51), Hindustan Petroleum
also received the highest ever number fi lings through the World Intellectual Corporation Ltd. (22) and all the Indian
of patent applications, 90,300, between Property Organisation’s (WIPO’s) Patent Institute of Technology (IITs) at 21.

136 Chemical Weekly May 14, 2024

Contents Index to Advertisers Index to Products Advertised