Union Minister of State for Chemicals & Fertilizers and New and Renewable Energy Bhagwanth Khuba on Friday said that chemicals and petrochemicals sector is progressing at a steady pace, and that the sector will be a major contributor in realizing the goal of making India a 5 trillion-dollar economy.<br />'' <br />''The minister was addressing an industry meet in Mumbai on Friday. He assured the industry leaders that the Department is working tirelessly to address the issues to ensure growth of the chemicals and petrochemicals sector. The Minister informed that as India aspires to become a global manufacturing hub for chemicals & petrochemicals, the Government is planning to redraft Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) policy guidelines. He informed that through Production Linked Incentive schemes with an incentive outlay of Rs 1.97 lakh crore, Government of India has recently given a thrust to promote key end-use sectors such as pharmaceuticals, telecommunication & networking equipment, automobiles, electronics, mobiles, medical devices and textiles. He said that this will further drive the demand for chemicals and petrochemicals in the country. He expressed confidence that the tremendous growth in demand coupled with rationalization of customs duty will attract large scale investment in the sector. He continue saying that this additional production will support the entire chemical value chain in a big way. He added that the vision of our Prime Minister for 'Make in India', and the steps in this direction will help the Indian economy to grow. The minister said that Department of Chemicals & Petrochemicals, Ministry of Chemicals & Fertilizers jointly with FICCI, is organizing the 12th Edition of "India Chem" during November 2 – 3, 2022 at Pragati Maidan, New Delhi. India Chem is the flagship event of the Department and is one of the largest composite events of the chemicals and petrochemicals industry in the Asia Pacific region. It comprises an International Conference and Exhibition.