The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Bharat Audyogik Vikas Yojana Rasayan, or BHAVYA-Rasayan Scheme, on Friday, sanctioning Rs 3,030 crore to set up three dedicated Chemical Parks in the country.
Of the total outlay, Rs 3,000 crore has been earmarked for common infrastructure facilities and basic utilities inside the parks, while the remaining Rs 30 crore will cover administrative expenditure.
Under the funding structure, the Centre will provide a grant of up to Rs 1,000 crore per park, subject to a minimum contribution of Rs 500 crore from the concerned state government.
Each chemical park will require a minimum contiguous area of 8 square kilometres, or about 2,000 acres, of encumbrance-free land.
The scheme, announced in the Union Budget for FY 2026-27, will run for five years, from FY 2026-27 to FY 2030-31, and is aimed at integrating India’s chemical industry into global value chains and reducing import dependence.
The parks are intended to offer plug-and-play infrastructure in the form of common facilities and basic utilities for chemical industry units.
(Image: Rajiv Nair EIL (CC BY-SA 4.0))
