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Context
On 24 July 2026, the Union Cabinet, chaired by the Prime Minister, approved the BHAVYA Rasayan Yojana (Bharat Audyogik Vikas Yojana Rasayan) to strengthen India's chemical and petrochemical manufacturing ecosystem. The scheme aims to establish three world-class chemical parks with shared infrastructure, reduce production costs, attract large-scale investments, and make India a globally competitive hub for chemicals and petrochemicals.
History of the Issue
India is one of the world's fastest-growing chemical markets, but it continues to depend heavily on imports of specialty chemicals, petrochemical intermediates, and active pharmaceutical ingredients (APIs). The industry has also faced challenges such as fragmented infrastructure, high logistics costs, inadequate hazardous waste management, and weak integration across the value chain. Recognizing these constraints, the Government announced the BHAVYA Rasayan Yojana in the Union Budget 2026-27 as part of its manufacturing and industrial infrastructure strategy. Cabinet approval has now paved the way for its implementation.
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BHAVYA Rasayan Yojana approved by Union Cabinet in July 2026 establishes three world-class chemical parks with ₹3,030 crore outlay to strengthen India's petrochemical manufacturing and reduce import dependence.
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