The award carrying a cash prize of Rs two lakh and one thousand, a scroll of honour and a silver shield will be presented to the scientists at a function here on August 7 to mark the 110th birth anniversary of Late Gujar Mal Modi.
Valdiya, an honorary professor of Geodynamics at the Jawaharlal Nehru Centre for Advanced Scientific Research, is known for his work in the fields of Geology and Environmental Science.
For the last few years, Valdiya has been working on a Science Outreach Programme to popularise Science among young students in the remote regions of Uttarakhand.
Sood, the President of the Indian Academy of Sciences, is known for his contribution in areas of condensed matter physics.
The Gujar Mal Modi Innovative Science and Technology Award is among the highest cash awards in the country in the field of Science and Technology.
The award was instituted in 1988 in the memory of late Rai Bahadur Gujar Mal Modi, who co-established the Modi Group of companies and the industrial city of Modinagar in Uttar Pradesh.