AGARTALA, September 6 (TIWN): “Innovation is the first commercial use of new technology”, said Member ofParliament Jitendra Chaudhury said speaking in the inaugural session of the 30th National Convention of ` Chemical Engineers and National Seminar on “ Recent Trends in Research, Developments & Innovations in Chemical Industries” organized by The Institute of Engineers (India), Tripura State Centre, in collaboration with NIT, Agartala and TIDC here today.

He further said that the chemical industry was the first knowledge-based industry and still is the same, and it will remain the same. But simultaneously, we must keep this always in our mind that there is one industry, which is most hatred across the world in spite of being very essential for mankind’s well-being, it is chemicals. This is not without reason; the industry has been associated with disastrous accidents, starting with BASF ammonium nitrate plant accident in 1924 through the 1984 Union Carbide Plant debacle in Bhopal, he mentioned.

The rapid growth in the new high-throughput research tools yields both great benefits and significant pitfalls, if not utilized correctly. It is imperative that everyone involved recognizes one important fact. It is simply said: “Since you can go so fast, you better be sure you are going in the right direction.” It is also imperative that your objectives and goals are well defined at each level and most importantly, are understood by everyone. This is where the critical innovation such success factors, people and processes, play a key role. People and processes are essential elements of creating alignment throughout an organization and are key to reducing innovation cycle time, he added.

Another critical factor of successful innovation is partnerships. The trend shows that there are an increasing number of partnerships in the chemical industry and across the industries around the Globe. We must encourage this trend for wellbeing of the mankind, headed.  Tripura is now second largest natural rubber producer state in the country. But due to geographical reasons the big companies are setting up industries here, he added.