"The chemical and petrochemicals sectors have the potential to transform India into a global manufacturing hub, in line with Prime Minister Narendra Modi’s vision of 'Make in India, Make for the World.'" Dr. Mansukh Mandaviya, Union Minister of Chemicals and Fertilizers and Health and Family Welfare, stated this at the third meeting of the Chemicals and Petrochemicals Advisory Forum. Bhagwanth Khuba, Minister of State for Chemicals and Fertilizers, was also present at the event.
Dr. Mansukh Mandaviya, who spoke at the event, stated that the Indian Chemical and Petrochemical industry has a significant potential to play a significant role in boosting the nation's growth. "India must develop its own model to lead the global market in chemicals and fertilisers," he emphasised. He urged the companies and the Advisory Forum to develop a "futuristic strategy that is in sync with global demands and emerging needs of aligned industries." India is capable of meeting the challenge; what is required is an outcome-oriented strategy."
"Let us develop our own consultative and multi-pronged decision-making model, while identifying actionable points to take India to the pinnacle of meeting both domestic and global demand," Dr Mandaviya said. He also urged industry and academia to collaborate on R&D that addresses the sector's domestic needs. "We could have targeted R&D to meet the challenges and requirements of niche sectors like MSME for chemicals," he explained.
While speaking at the event, Bhagwanth Khuba emphasised the government's pro-industry policies and various initiatives aimed at making doing business in the country easier. Noting that India is a developing economy, he stated that the Indian chemical and petrochemical industries have enormous potential to play a significant role in boosting the country's growth.
The Advisory Forum's prospective plan on petrochemicals was discussed, and a report on "Understanding Industry Landscape" was also released.
On July 10, 2019, an Advisory Forum for Chemicals and Petrochemical Sector was formed to identify impediments to the growth of the country's chemical and petrochemical sectors and to facilitate industry growth through policy interventions. The Advisory Forum's role is to provide a forum for industry associations to raise issues that can be resolved in collaboration with other ministries.
It also provides an opportunity for stakeholders to provide input into policy formulation and new initiatives aimed at making the country "Atmanirbhar" in the sector. Members of the Advisory Forum include industry associations, academic institutions, CSIR laboratories, PSUs, and state representatives. The Forum is presided over by Union Minister of Chemicals and Fertilizers.
