The government has approved the Rs 336.60 billion Bharat Audyogik Vikas Yojna (BHAVYA) to develop 100 plug-and-play industrial parks across India.

Cleared by the Union Cabinet, the scheme aims to build world-class industrial infrastructure to unlock manufacturing potential and support India’s growth, said Information and Broadcasting Minister Ashwini Vaishnaw.

Industrial parks ranging from 100 to 1,000 acres will be developed with financial support of up to Rs 0.01 billion per acre. These parks will include core infrastructure such as internal roads, underground utilities, drainage systems, common treatment facilities, ICT systems and administrative services.

The parks will also feature ready-built factory sheds, built-to-suit units, testing laboratories, warehousing and social infrastructure, including housing for workers. Support for external infrastructure will be provided up to 25 per cent of the project cost.

Project selection will be conducted through a challenge-based approach to ensure high-quality, investment-ready proposals. Building on the Industrial Smart Cities developed under the National Industrial Corridor Development Programme (NICDP), BHAVYA will be implemented in partnership with states and private sector players.

With pre-approved land, ready infrastructure and integrated services, the scheme is expected to reduce entry barriers for investors. It is also expected to generate large-scale employment across manufacturing, logistics and services, while attracting significant investments.

The National Industrial Corridor Development Corporation Limited (NICDC), under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, will spearhead the development. NICDC is currently implementing 20 projects across 13 states.

SM&E's Take on the News:

The BHAVYA scheme will accelerate India’s manufacturing growth by enabling faster project execution through ready-to-use industrial infrastructure and reduced entry barriers for investors. It is expected to drive large-scale investments and job creation across manufacturing, logistics and allied sectors, strengthening India’s industrial ecosystem.

(News Source: The Indian Express)