India Approves ₹3,030 Cr BHAVYA-Rasayan Chemical Parks Scheme
By ThePip Desk
India’s Union Cabinet greenlights the ₹3,030 crore BHAVYA-Rasayan Scheme to build 3 new Chemical Parks, aiming to boost the sector, attract investment, and create jobs.
The Union Cabinet has approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA-Rasayan) Scheme, allocating ₹3,030 crore to enhance India’s chemical sector. This initiative, announced in the Union Budget FY 2026-27, will establish three dedicated Chemical Parks across the country.
Boosting India’s Chemical Industry
The BHAVYA-Rasayan Scheme aims to attract both domestic and foreign investments into the chemical industry. It seeks to significantly boost domestic production capacity and generate new employment opportunities.
- Total financial outlay: ₹3,030 crore
- Earmarked for Common Facilities in parks: ₹3,000 crore
- Primary goal: Enhance global competitiveness and promote Atmanirbharta (self-reliance)
By fostering a robust chemical manufacturing base, the government anticipates a stronger position for India in the global market.
Impact of Production Linked Incentive Schemes
In a related push for industrial growth, the government has already disbursed substantial funds under its Production Linked Incentive (PLI) schemes. As of March 31, 2026, a total of ₹35,354 crore has been disbursed to beneficiaries.
- Approved applications: 892 across 14 sectors
- Actual investments generated: exceeding ₹2.40 lakh crore
- Production and sales generated: over ₹22.66 lakh crore
- Exports generated: exceeding ₹15.2 lakh crore
Minister of State for Commerce and Industry Jitin Prasada confirmed these figures, highlighting the broad economic impact of the PLI initiatives. The schemes have been instrumental in driving significant economic activity across various sectors.
Employment Generation and Sectoral Growth
A key outcome of the PLI schemes is substantial job creation, both directly and indirectly. The initiatives have provided employment to a large workforce.
- Total employment generated (direct and indirect): over 14.15 lakh people
- Direct jobs created: 8.4 lakh
The pharmaceuticals sector, in particular, has demonstrated strong performance, recording cumulative sales of over ₹3.64 lakh crore under the scheme. This underscores the targeted success of incentivizing specific industries for growth and self-reliance.