New Delhi, Sep 20 (IANS): Union Minister of Chemicals and Fertilisers, Mansukh Mandaviya, on Tuesday called for creating India's own model to lead the global chemicals and fertiliser market.

"Let us create our own model of decision making which is consultative and multi-pronged, while identifying actionable points to take India to the height of meeting its own domestic demand and the global one too," Mandaviya said at the third meeting of the Chemicals and Petrochemicals Advisory Forum here on Tuesday.

The minister said the chemicals and petrochemicals sector can transform India into a global manufacturing hub in sync with PM Narendra Modi's vision of 'Make in India, Make for the World'.

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

He urged 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," the minister said.

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

"We could target R&D to meet the challenges and requirements of niche sectors such as MSME for chemicals," he noted.

The Chemicals and Petrochemicals Advisory Forum was constituted in July 2019 to identify the impediments affecting the growth of the chemicals and petrochemicals sector 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.