New Delhi [India], July 24 (ANI): Defence Minister Rajnath Singh on Friday welcomed the Union Cabinet’s approval of the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan) Scheme, describing it as an initiative that will transform India’s chemical manufacturing landscape.
Singh said the scheme will lead to the establishment of world-class chemical parks across the country.
In a post on X, the Defence Minister wrote, “The Union Cabinet chaired by PM Shri @narendramodi ji, has approved the landmark BHAVYA Rasayan Scheme, a significant initiative that will transform India’s chemical manufacturing landscape through the establishment of world-class chemical parks.”
He added that it will also promote sustainable industrial development with modern environmental infrastructure, enhance India’s integration with global value chains, and support the vision of an Aatmanirbhar Bharat and Viksit Bharat.
“This path-breaking decision will strengthen the entire chemical value chain, attract significant domestic and global investments, generate large-scale employment, promote sustainable industrial development with modern environmental infrastructure, enhance India’s integration with global value chains and reinforce the vision of Aatmanirbhar and Viksit Bharat. I thank PM Modi for his forward-looking decision,” the post read.
Earlier in the day, the Union Cabinet approved the BHAVYA scheme with a financial outlay of Rs 3,030 crore to establish three dedicated chemical parks across the country, aiming to strengthen domestic manufacturing, attract investments and improve the global competitiveness of India’s chemical industry.
Union Minister Ashwini Vaishnaw announced the Cabinet’s decision during a media briefing following the Cabinet meeting today.
According to an official release, the scheme, which was announced in the Union Budget for FY2026-27, will have a total outlay of Rs 3,030 crore, including Rs 3,000 crore for developing common infrastructure and basic utilities inside the parks and Rs 30 crore towards administrative expenditure. The scheme will be implemented over five years, from FY2026-27 to FY2030-31.
The Cabinet said the Centre will provide a grant of up to Rs 1,000 crore for each chemical park, subject to a minimum contribution of Rs 500 crore by the respective state government. (ANI)
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