India, July 24 -- The Government of India has issued a release:
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved Bharat Audyogik Vikas Yojana Rasayan or BHAVYA - Rasayan Scheme for establishing three dedicated Chemical Parks in the country. The Scheme was announced in the Union Budget of FY 2026-27.
The Scheme will have a total financial outlay of Rs.3,030 crore, with Rs.3,000 crore towards meeting the cost of establishing the Common Infrastructure Facilities and Basic Utilities inside the park and Rs. 30 Crores as administrative expenditure. The scheme would run for a period of 5 years from FY 2026-27 to FY 2030-31.
In terms of the said scheme, the Centre would provide a grant of up to Rs.1,000 crore per park. This will be subject to minimum contribution of Rs.500 crore by the concerned State Government.
BHAVYA Rasayan Scheme is expected to bring the following benefits to the economy:
Recognising that this sector produces Chemicals and Petrochemicals which are used in various downstream industries such as Agriculture, Textiles, Pharmaceuticals, Nutraceuticals, Construction, Automobile, Electronics, introducing BHAVYA Rasayan Scheme shall facilitate development of the sector by attracting domestic and foreign investments, enhancing domestic production capacity and generating employment. It will boost the global competitiveness of the sector thereby, promoting Atmanirbharta.
In terms of the said Scheme, the Centre will facilitate development of three dedicated Chemical Parks by the State Governments under Challenge Route. Each such park will have a minimum contiguous area of 8 sq. km. (minimum 2,000 acres) of encumbrance-free land. These parks will provide plug-and-play infrastructure, in the form of Common Infrastructure Facilities and Basic Utilities for the chemical industry such as:
Disclaimer: Curated by HT Syndication.
