New Delhi, 24 July (H.S.): The Central Government has approved the Bharat Industrial Development Yojana-Rasayan (BHAVYA-Chem Scheme) for establishing three dedicated chemical parks across the country. The scheme was announced in the Union Budget for the financial year 2026-27.

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Friday approved the establishment of three dedicated chemical parks in the country. A total financial outlay of Rs 3,030 crore has been approved for the scheme.

Out of the total allocation, Rs 3,000 crore will be utilised for developing internal infrastructure facilities and basic utilities within the parks, while Rs 30 crore has been earmarked for administrative expenses.

The scheme will be implemented for a period of five years, from financial year 2026-27 to 2030-31. Under the scheme, the government will provide grants of up to Rs 1,000 crore for each park after the respective state government contributes a minimum of Rs 500 crore towards the project.

Union Minister Ashwini Vaishnaw, while briefing the media on the Cabinet decisions on Friday, said that the BHAVYA-Chem Scheme is expected to strengthen the entire value chain of the chemical industry in India.

He said the scheme will reduce production costs and logistics expenses through shared infrastructure and modern facilities, thereby enhancing the global competitiveness of Indian industries.

The initiative is also expected to boost exports and reduce dependence on imports. Environment-friendly facilities such as common effluent treatment plants and hazardous waste management systems will ensure sustainable industrial development.

The scheme will help attract both domestic and foreign investments, create new employment opportunities, and benefit sectors including agriculture, pharmaceuticals, textiles, automobiles and electronics.

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Hindusthan Samachar / Jun Sarkar