Government Approves ₹3,030 Crore Scheme to Set Up Three Chemical Parks Under BHAVYA-Rasayan

The government recently announced a new scheme to establish three dedicated chemical parks across the country with a total financial outlay of ₹3,030 crore.

The Cabinet, chaired by Prime Minister Narendra Modi, approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA-Rasayan) Scheme, Information and Broadcasting Minister Ashwini Vaishnaw said.

The scheme, which was announced in the Union Budget for the 2026–27 fiscal year, aims to strengthen India's chemical manufacturing ecosystem by creating dedicated industrial clusters for the sector.

The ₹3,030 crore initiative is expected to support the development of world-class chemical parks and promote investment, industrial growth and competitiveness in the domestic chemical industry.