The BHAVYA-Rasayan Scheme received approval from India’s Union Cabinet on Friday, with Prime Minister Narendra Modi chairing the meeting that sanctioned Rs 3,030 crore for three dedicated Chemical Parks.
Rs 3,000 crore of the outlay is earmarked for common infrastructure facilities and basic utilities, and Rs 30 crore for administrative expenditure.
Under the scheme, the Centre will give a grant of up to Rs 1,000 crore per park, subject to a minimum contribution of Rs 500 crore from the relevant state government.
Each park will need a minimum contiguous area of 8 square kilometres, or about 2,000 acres, of encumbrance-free land.
The scheme, first flagged in the Union Budget for FY 2026-27, will span five years through FY 2030-31, with the aim of integrating India’s chemical industry into global value chains and reducing import dependence.
The parks will offer plug-and-play infrastructure with shared facilities for chemical industry units.
(Image: Rajiv Nair EIL (CC BY-SA 4.0))
