The Union Cabinet approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan) scheme to establish three dedicated Chemical Parks across India.
- It was announced in the Union Budget 2026–27.
About BHAVYA Rasayan Scheme
- Ministry: Ministry of Chemicals & Fertilizers
- Implementation Period: FY 2026–27 to FY 2030–31 (5 years).
- Objective: Develop three dedicated Chemical Parks with world-class common infrastructure to enhance the competitiveness of India's chemical industry.
- Financial Outlay: Rs 3,030 crore
- Rs 3,000 crore for common infrastructure.
- Rs 30 crore for administrative expenditure.
- Central Assistance: Up to Rs 1,000 crore per Chemical Park, subject to a minimum Rs 500 crore contribution by the concerned State Government.
- Selection Process: Challenge-based.
- Land Requirement: Minimum 2,000 acres (8 sq. km.) of contiguous, encumbrance-free land per park.
- Significance: Promote the development of the chemical industry across the entire value chain, including upstream, downstream and ancillary industries.
- Improving resource efficiency
- Reducing logistics costs.
Chemical Industry: At a Glance
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