What is the BHAVYA scheme of Modi government for new generation of industrial infra in India | All details
The Union government has notified the guidelines for the Rs 33,660 crore Bharat Audyogik Vikas Yojana (BHAVYA) Scheme, introducing a competitive challenge mode to build 100 next-generation industrial parks.
BHAVYA scheme of Modi government (IANS image)
New Delhi: In a significant development for India's industrial growth, India's industrial landscape is gearing up for a massive upgrade. In the recent development, the Union government led by PM Modi has officially rolled out the guidelines for its visionary Rs 33,660 crore Bharat Audyogik Vikas Yojana (BHAVYA) Scheme. Aimed at breaking the cycle of fragmented development, this central sector initiative will provide financial assistance to set up 100 next-generation industrial parks across the nation. By prioritizing a competitive selection process for its initial 50 proposals, BHAVYA delivers world-class infrastructure to supercharge global manufacturing investments and trigger a massive wave of employment.
Decisive shift in India's approach to industrial infrastructure
According to the India Cellular and Electronics Association (ICEA), this marks a decisive shift in India's approach to industrial infrastructure, moving away from fragmented, supply-driven development towards a demand-responsive, competitive framework that rewards states demonstrating strong industrial potential, land readiness, investor interest and sectoral strengths.
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Pankaj Mohindroo, Chairman, ICEA, said that by adopting a competitive, state-driven model and leveraging a transparent digital platform, the scheme will enable the creation of world-class industrial ecosystems with modern infrastructure, seamless connectivity, and investor-friendly processes.
"This has the potential to significantly enhance India's attractiveness as a preferred destination for both domestic and global investments while advancing the vision of Viksit Bharat 2047," he mentioned. While plug-and-play industrial parks have become a cornerstone of successful manufacturing ecosystems worldwide, India has remained out of sync with global best practices in industrial infrastructure.
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How BHAVYA scheme can be game-changing step for India?
BHAVYA can be a game-changing step towards correcting this structural weakness and positioning India as a more attractive manufacturing destination, according to the industry body. According to Vimal Nadar, National Director and Head, Research, Colliers India, the scheme aims to create investment-ready industrial ecosystems with pre-approved land, ready infrastructure and integrated services in place, which will reduce timelines for setting manufacturing facilities and ultimately provide a boost to warehousing requirements in and around these parks.
The scheme is expected to promote the rise of new manufacturing centres, strengthen logistics and supply chains and usher in balanced economic development across the country, he said.
(With inputs from agencies)
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