Centre Launches 4-Month Application Period for 50 Industrial Parks Under BHAVYA Scheme
Centre Invites States to Apply for 50 Industrial Parks Under Rs 33,660 Crore BHAVYA Scheme
The Centre has announced a four-month window for states to submit applications for setting up 50 industrial parks under the Rs 33,660 crore Bharat Audyogik Vikas Yojna (BHAVYA) scheme. The Union Cabinet had approved the scheme on March 18, with the aim of developing 100 plug-and-play industrial parks across the country.
The BHAVYA scheme aims to develop world-class industrial infrastructure, unlock manufacturing potential, and drive the country's economic growth. This will be achieved through the development of industrial parks ranging from 100 to 1,000 acres, with financial support of up to Rs one crore per acre provided for infrastructure development.
| Scheme Phase | Number of Parks | Number of Acres | Financial Support per Acre |
|---|---|---|---|
| First Phase | 50 | 100-1000 acres | Up to Rs 1 crore |
| Second Phase | 50 | 100-1000 acres | Up to Rs 1 crore |
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The selection process will be through a "challenge method", where states that provide better facilities, such as land, water, and power, are likely to attract investors. States like Rajasthan, Maharashtra, West Bengal, and Haryana are showing keen interest in the scheme.
Under the scheme, states are required to set up a special purpose vehicle (SPV), notify a planning authority, and establish a single-window clearance mechanism to ensure faster approval of their applications. The Centre will provide assistance of Rs 50 lakh per acre to states that partner with private players and submit proposals.
"We expect that in three years, these 50 parks will be operationalised," said Commerce and Industry Minister Piyush Goyal, who briefed the media on the subject. The BHAVYA scheme will benefit manufacturing units, MSMEs, startups, and global investors seeking ready-to-use industrial infrastructure.
By fostering cluster-based development and enabling co-location of industries, suppliers, and service providers, BHAVYA will strengthen domestic supply chains, promote regional industrialisation, and create new opportunities for millions of people.
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Investor Takeaway
The Centre's initiative to develop industrial parks may have a positive impact on the country's economic growth.
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