Representative image: a chemical/petrochemical plant in India. Photo: Rajiv Nair EIL (CC BY-SA 4.0)
Union Cabinet approves scheme for 3 chemical parks worth Rs 3,030 crore
The Union Cabinet has approved the BHAVYA-Rasayan Scheme worth Rs 3,030 crore to set up three dedicated chemical parks in India.
The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the BHAVYA-Rasayan Scheme on Friday, with an outlay of Rs 3,030 crore for three dedicated Chemical Parks.
The scheme earmarks Rs 3,000 crore for common infrastructure facilities and basic utilities, and Rs 30 crore for administrative expenses.
Each park will get a Centre grant of up to Rs 1,000 crore, subject to the relevant state government contributing a minimum of Rs 500 crore.
Each chemical park requires a minimum contiguous area of 8 square kilometres, or about 2,000 acres, of encumbrance-free land.
The scheme, first announced in the Union Budget for FY 2026-27, will run for five years through FY 2030-31, with the goal of integrating India’s chemical industry into global value chains and cutting import dependence.
The new parks will offer plug-and-play infrastructure with shared common facilities for the chemical sector.
(Image: Rajiv Nair EIL (CC BY-SA 4.0))