The Central Institute of Plastic Engineering and Technology (CIPET) is processing the applications received for the national awards for technology innovation in petrochemical and downstream plastic processing industry.

Under the National Policy on Petrochemicals, the Department of Chemicals and Petrochemicals (DCPC) had entrusted CIPET with all the work relating to the processing of applications including organisation of the National Awards for Technology Innovation.

The innovation award scheme has been initiated to motivate the industry and investors to carry out innovative research and development work.

According to the DCPC, this will improve the performance of the existing product and its quality leading to better acceptance and increase in demands of the product in the competitive market of polymers and plastics.

The DCPC said that CIPET has received over 80 applications for the awards.

"These are under examination by an Experts Standing Committee on Awards constituted for the purpose," it said.

Two broad categories of awards are proposed ? plastics and elastomers; synthetic fibres, surfactants and intermediates; and new emerging areas. A total of six awards focused on plastics and two in other four areas have been finalised with three awards under each category ? making it a total of maximum possible 24 awards.