Prime Minister Narendra Modi hailed the approval of the Bharat Audyogik Vikas Yojna (BHAVYA) by the Union Cabinet as a significant step towards enhancing India’s manufacturing sector. The initiative aims to establish 100 plug-and-play industrial parks nationwide, fostering industrial infrastructure, attracting investments, and generating employment opportunities. PM Modi emphasized that BHAVYA will streamline regulatory processes, offer single-window approvals, and enhance ease of doing business, benefiting logistics and service sectors as well.
The BHAVYA scheme focuses on simplifying business operations by introducing efficient regulatory procedures and swift approvals through a unified system. By providing pre-approved land, infrastructure, and services, the plug-and-play model will facilitate rapid commencement of industrial activities, reducing barriers for potential investors. The development of industrial parks ranging from 100 to 1,000 acres under BHAVYA will receive financial aid of up to Rs 1 crore per acre, covering essential infrastructure like roads, utilities, and factory facilities.
These industrial parks will not only include core infrastructure elements but also social amenities such as worker housing to support a conducive working environment. Additionally, external infrastructure support of up to 25% of the project cost will ensure seamless connectivity for the industrial zones. Projects under BHAVYA will undergo a competitive selection process to ensure the advancement of high-quality, investment-ready proposals, aligning with PM GatiShakti principles for efficient connectivity and logistics.
