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BHAVYA Boosts India's Manufacturing with ₹33,660 Crore
18 Mar
Summary
- Union Cabinet approves ₹33,660 crore BHAVYA scheme.
- Scheme aims to develop 100 industrial parks nationwide.
- It will support infrastructure and generate significant employment.
The Union Cabinet has greenlit the Bharat Audyogik Vikas Yojana (BHAVYA), a significant initiative with an outlay of ₹33,660 crore dedicated to enhancing manufacturing and investment nationwide. This ambitious scheme plans to develop 100 industrial parks, ranging from 100 to 1,000 acres, across all states and Union Territories.
BHAVYA will provide essential infrastructure, including internal roads, utilities, common facilities, factory sheds, and warehousing. Financial aid of up to ₹1 crore per acre is available for internal infrastructure, with additional support for external connectivity improvements. Projects will be chosen via a challenge process emphasizing reform and investment readiness.
The scheme targets extensive employment generation in manufacturing, logistics, and services. It aims to attract manufacturing firms, MSMEs, startups, and global investors, fostering cluster-based development to strengthen supply chains and improve ease of doing business.
