India launches BHAVYA Rasayan for 3 chemical parks ₹3,030 cr
Business
India's government is rolling out the BHAVYA Rasayan scheme to build three big chemical parks, aiming to boost local production and cut down on imports.
Announced in the 2026-27 Union Budget and set to run through 2030-31, the scheme has a total budget of ₹3,030 crore and hopes to attract fresh investment into the sector.
Chemical parks to offer shared facilities
Each park gets up to ₹1,000 crore from the Center if states chip in at least ₹500 crore.
The locations will be chosen based on financial strength and sustainability.
These parks will offer shared facilities, like waste treatment plants and labs, to help industries save money and stay eco-friendly.
The bigger goal: more jobs, stronger exports, and contributing to the goal of Viksit Bharat 2047.