Govt brings ₹3,030 crore scheme for setting up three large chemical parks
The Indian government has launched the ₹3,030-crore BHAVYA-Rasayan Scheme to establish three large-scale chemical parks across the country. The initiative aims to boost self-reliance in the chemical sector by providing common infrastructure to attract significant private investment.
Why it matters
This policy represents a major industrial push to strengthen India's manufacturing base and reduce import dependency in a foundational economic sector.
The government on Friday (July 24, 2026) announced a new ₹3,030-crore scheme for setting up three large chemical parks, each spreading across at least 2,000 acres, an initiative aimed at making India self-reliant in the sector.
Announcing the Cabinet decision, Information & Broadcasting Minister Ashwini Vaishnaw said each park could see investments in the range of ₹20,000 crore to ₹50,000 crore and the scheme will act as a "multiplier".
The Cabinet, chaired by Prime Minister Narendra Modi, has approved Bharat Audyogik Vikas Yojana Rasayan, or BHAVYA-Rasayan Scheme, to establish three dedicated chemical parks in the country.
The scheme, announced in the Union Budget of the 2026-27 fiscal, will have a total financial outlay of ₹3,030 crore.
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