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Govt to Fund 50 New Industrial Parks
24 May
Summary
- 50 industrial parks will be established nationwide.
- The scheme allocates Rs 33,660 crore for industrial development.
- States must compete by submitting high-quality proposals.
The central government will support the establishment of 50 industrial parks across states in the first phase of the Rs 33,660-crore BHAVYA (Bharat Audyogik Vikas Yojna) scheme. States and Union Territories must submit high-quality proposals to compete for central support.
The scheme, approved on March 18, plans for 100 industrial parks over six years from 2026-27 to 2031-32. The parks will range from 10 to 1,000 acres, with a minimum of 25 acres for hilly states. The Centre will fund industrial infrastructure, capped at Rs 1 crore per acre, while states provide land.
In the initial application window, 20 parks will be approved. The government aims to receive applications for all 50 parks within the next four months to expedite the scheme's rollout nationwide. This initiative is a smaller version of the NICDC's large industrial parks project.
