New Delhi, Sep 20 (PTI) India's chemical and petrochemical industry can play a significant role in the country's economic growth, Union Minister Mansukh Mandaviya said on Tuesday.

Chemicals and Fertilisers Minister Mansukh Mandaviya was addressing the third meeting of Chemicals and Petrochemicals Advisory Forum, an official statement said.

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"Chemicals and petrochemicals sector can transform India into a global manufacturing hub...," Mandaviya said.

Minister of State for Chemical and Fertilisers Bhagwanth Khuba was also present at the event.

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Mandaviya stated that chemical and petrochemical industry has potential to play a significant role in boosting the nation's growth.

"India needs to create its own model to lead the global market in chemicals and fertilisers," he stressed.

Mandaviya asked the companies and the Advisory Forum to create a futuristic strategy which would be in sync with the global demands and the emerging requirements of aligned industries.

"India has the capacity to rise to the challenge; what is needed is a strategy which is focussed on outcomes," he said.

Mandaviya also asked the industry and academia to partner in R&D which addresses the domestic requirements in the sector.

An Advisory Forum for Chemicals & Petrochemical sector has been constituted on July 10, 2019, to identify impediments affecting growth of the chemical and petrochemical sector in the country and to facilitate industry growth through policy interventions.

The role of the forum is to provide a platform to the industry associations for raising issues which may be resolved in coordination with other ministries. It also offers an opportunity to stakeholders to provide their inputs for framing policies and taking new initiatives for making the country 'Atmanirbhar' in the sector.

The forum has industry associations, academic institutions, CSIR laboratories, PSUs and representatives of the states as members.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)