NEW DELHI: The Union Cabinet on Friday approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA-Rasayan) scheme to establish three dedicated chemical parks across the country, with the aim of strengthening India’s chemical manufacturing ecosystem and boosting global competitiveness.
The scheme has a total financial outlay of ₹3,030 crore, including ₹3,000 crore for developing common infrastructure and basic utilities within the parks, while ₹30 crore has been allocated for administrative expenses.
Announced in the Union Budget, the scheme will be implemented over five years. Under the programme, the Centre will provide financial assistance of up to ₹1,000 crore for each chemical park, while the host state will be required to contribute a minimum of ₹500 crore.
According to the government, the BHAVYA-Rasayan scheme is expected to accelerate the growth of the chemical industry and its value chain, including upstream, downstream and ancillary industries, while promoting efficient utilisation of resources.
The parks will offer shared infrastructure and common utilities tailored to the needs of the chemical sector, helping reduce operational costs and improve the global competitiveness of Indian manufacturers. The government said the initiative would also strengthen the industry’s integration with global value chains, leading to higher exports and greater import substitution.
The scheme envisages the creation of an environmentally sustainable industrial ecosystem, with centralised facilities such as common effluent treatment plants, treatment, storage and disposal facilities, and hazardous waste management infrastructure.
The government said the development of the chemical parks is expected to generate employment, attract investment and contribute to the country’s overall economic growth.
