New Delhi: Under the leadership of Prime Minister Narendra Modi, the Union Cabinet has approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA-Rasayan) Scheme aimed at strengthening India’s chemical sector through the development of three dedicated Chemical Parks across the country. This inforamtion is shared with media by the Union Minister Ashwini Vaishnav after cabinet meeting .
He said that the scheme carries a total financial outlay of ₹3,030 crore and will be implemented over a five-year period from Financial Year 2026–27 to 2030–31.
Union Minister said that the initiative is expected to promote industrial growth, enhance domestic manufacturing capabilities, attract investment, and create a robust ecosystem for the chemical industry in India. The establishment of dedicated Chemical Parks will provide integrated infrastructure and support the growth of chemical manufacturing in line with the government’s vision of boosting self-reliance and industrial development.
He clarified that a grant of up to Rs.1,000 crore per park would be provided. It will promote development of the Chemical industry along the whole value chains including upstream, downstream and ancillary industries promoting efficient utilization of resources, leading to lower logistics cost.