West Bengal prepares industrial proposals for BHAVYA scheme and new policy

The West Bengal government is preparing to submit a proposal by August for the second phase of the central government's Bharat Audyogik Vikas Yojna (BHAVYA) scheme. The scheme, which features a total outlay of Rs 3,030 crore, aims to establish three dedicated chemical parks to strengthen domestic manufacturing and enhance the global competitiveness of India's chemical industry.

Under the scheme, the central government will provide a grant of up to Rs 1,000 crore per chemical park, contingent upon a minimum contribution of Rs 500 crore from the respective state government. The program is scheduled for implementation over five years, from FY2026-27 to FY2030-31.

Parallel to these central initiatives, West Bengal is finalizing a new industrial policy designed to prioritize sectors with high demand for ancillary industries, such as textiles, iron and steel, automotive, and information technology. This strategy aims to boost employment generation by supporting both large industrial units and micro, small, and medium enterprises (MSMEs). In North Bengal, the policy will also focus on the tea, timber, and tourism sectors.