The Union Cabinet 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.
The scheme 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.
It will help the Indian Chemical industry better integrate in Global Value Chains leading to greater exports and higher import substitution.
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