Govt Urges States, Industry to Join Bhavya Rasayan Scheme for 3 Chemical Parks
Union Minister Anupriya Patel urges states and industry to join the Bhavya Rasayan scheme to build three major chemical parks across India.
In a major push to bolster India's industrial landscape, Union Minister of State for Chemicals and Fertilizers, Anupriya Patel, has called upon state governments and domestic industry players to actively participate in the Cabinet-approved Bhavya Rasayan scheme. The initiative is designed to transform the nation's chemical and petrochemical sectors by establishing three massive chemical parks across the country.
Speaking on the sidelines of the 'India Chem 2026' launch, organized by the Ministry of Chemicals and Fertilisers and FICCI, the Minister emphasized that the scheme is a cornerstone for India's journey toward becoming a self-reliant, developed economy by 2047.
Financial Roadmap for Industrial Expansion
The Bhavya Rasayan scheme operates on a collaborative funding model between the Centre and the States. To ensure the successful development of these large-scale industrial hubs, the financial breakdown is as follows:
- Central Government Contribution: Rs 1,000 crore
- State Government Contribution: A minimum of Rs 500 crore per participating state
Minister Patel confirmed that the official guidelines for the scheme have already been released. She noted that the next step involves a collaborative process where industries and states submit their specific proposals regarding the preferred locations for these chemical parks. Once these proposals are received, the government has promised a swift approval process to maintain momentum.
Building a Resilient Manufacturing Ecosystem
The Minister highlighted that the primary goal of these parks is to create a specialized ecosystem that fosters innovation and allows manufacturers to scale their operations. This is particularly vital given the current global geopolitical shifts, which necessitate a more resilient and self-sufficient domestic economy.
"By taking this chemical parks initiative to a large scale, the industry will get an ecosystem where it can innovate and expand its manufacturing, which will in turn strengthen our chemical sector," Patel stated.
To support this manufacturing mission, the government is integrating the sector with various high-tech frameworks, including:
- The Department of Science and Technology's RDIS scheme for research and development.
- The National Critical Mineral Mission.
- The India Semiconductor Mission and the Rare Earth Corridor.
- Relaxed Foreign Direct Investment (FDI) norms and concluded Free Trade Agreements (FTAs).
The Trillion-Dollar Opportunity
The push for these chemical parks comes at a time of massive projected growth for the sector. Current data suggests that the demand for chemicals and petrochemicals in India is expected to nearly triple, potentially reaching USD 1 trillion by 2040.
The specialty chemicals market is also on a steep upward trajectory. Having reached Rs 5,83,972 crore (USD 67.0 billion) in 2025, it is projected to climb to Rs 8,65,444 crore (USD 93.4 billion) by 2034, growing at a CAGR of 3.65 per cent during the 2026-2034 period.
As the industry prepares for this expansion, all eyes turn to Mumbai, which will host the flagship edition of IndiaChem 2026 from October 22 to 24. Described as the largest event for the chemicals and petrochemicals sector in the entire Asia region, it is expected to serve as a global platform for innovators, researchers, and business leaders to shape the future roadmap of the industry.