'Recognising innovation in petrochem,plastics to boost growth'

NEW DELHI: Recognition of innovation in areas of petrochemicals and plastics processing will encourage the domestic plastics industries to focus more on evolving cost- effective systems and solutions, the government said today.

This would also lead to development of environment- friendly new generation polymers, process technologies, ensuring sustained growth in the petrochemicals and plastics processing downstream Industry, Minister of State (Independent charge) for Chemicals & Fertilisers and Statistics & Programme Implementation Srikant Kumar Jena said.

He was speaking at the third National Awards for Technology Innovation in Petrochemical and Downstream, Plastic Processing Industry here today, according to an official statement.

Jena said the downstream petrochemical products "permeate our daily lives in almost every aspect. The value additions in the petrochemicals chain offer immense possibilities and cater to the need of textiles and clothing, agriculture, packaging, among others and a host of other articles of daily and specialised usage amidst other emerging areas".

"Plastics have inspired and continue to drive innovations that help to solve society's greatest challenges - from lifesaving technologies to more sustainable living," he added.