New Delhi, July 24 -- The Union Cabinet on Friday approved the Bharat Audyogik Vikas Yojana Rasayan (BHAVYA Rasayan) 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 on Friday.

According to an official Cabinet 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 ...