Step 1: Understanding the Chain Specifications.
As per Indian Standard specifications, a 30-meter chain is typically divided into 100 links. The length of each link can be calculated by dividing the total length of the chain by the number of links.
\[
\text{Length of one link} = \frac{30 \, \text{meters}}{100} = 0.30 \, \text{meters} = 30 \, \text{cm}.
\]
Step 2: Conclusion.
Therefore, the length of one link in a 30-meter chain is 30 cm, making option (2) the correct answer.
Final Answer:
\[
\boxed{30 \, \text{cm}}
\]