BHAVYA Rasayan scheme: Cabinet approves Rs 3,030 crore for three chemical parks
The Indian government has approved the BHAVYA Rasayan scheme, allocating Rs 3,030 crore to establish three dedicated chemical parks. The initiative aims to boost domestic manufacturing and infrastructure in the chemicals sector over the next five years.
Why it matters
This investment signals a strategic push to position India as a global manufacturing hub for chemicals, similar to its focus on the semiconductor industry.
The Union cabinet on Friday approved a new Rs 3,030-crore scheme to establish three dedicated chemical parks across the country, aiming to strengthen India's chemicals sector through world-class infrastructure, attract investments and boost domestic manufacturing.The Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan) scheme, announced in the Union Budget for 2026-27, was cleared by the Cabinet chaired by Prime Minister Narendra Modi, Union information and broadcasting minister Ashwini Vaishnaw said.Addressing a Cabinet briefing, Vaishnaw said the chemicals sector, much like semiconductors, is a foundational industry for the economy."Today, Prime Minister Narendra Modi chaired the Cabinet meeting, which approved two major decisions. The first is the construction of the third and fourth railway lines on a key economic corridor connecting Andhra Pradesh and Karnataka.
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