Experts believe that the plug-and-play industrial development initiative, BHAVYA, could potentially increase India’s manufacturing share in the GDP to 25% by 2032. The President of ASSOCHAM, Nirmal K. Minda, lauded the BHAVYA model as a significant advancement in India’s manufacturing industry. He highlighted that BHAVYA’s seamless business operations from approvals to functioning align with the vision of a developed India.
Emphasizing the importance of Micro, Small, and Medium Enterprises (MSMEs) in India’s economic progress, Minda stated that BHAVYA would bolster their growth and competitiveness globally. The initiative aims to establish future-ready, sustainable industrial parks that will empower MSMEs and startups to thrive and compete on a global scale.
BHAVYA is expected to transform India’s industrial landscape, counter global challenges, and propel the country’s growth trajectory. Recently approved by the Union Cabinet, the scheme intends to set up 100 plug-and-play industrial parks nationwide. This initiative seeks to enhance industrial infrastructure, attract investments, generate employment opportunities, and simplify business operations through efficient approval processes and a single-window system.
The plug-and-play model of BHAVYA will enable industries to commence operations swiftly, benefiting from pre-approved land, developed infrastructure, and integrated services. This approach will significantly reduce barriers for investors entering the market. The industrial parks, ranging from 100 to 1,000 acres, will receive financial support of up to Rs 1 crore per acre for essential infrastructure like roads, utilities, and factory facilities, aiming to enhance the industrial ecosystem.
