BHAVYA Industrial Parks Scheme

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The Union Commerce and Industry Minister recently led the Board of Trade meeting in New Delhi.
During this meeting, the Minister asked all states to focus heavily on increasing exports.
He also encouraged them to make full use of the new BHAVYA Industrial Parks Scheme to help businesses grow.
The government wants to build stronger cooperation between the Centre, states, and industries to boost India's trade globally.

The Bharat Audyogik Vikas Yojana (BHAVYA) is a central sector initiative run by the DPIIT.
This scheme plans to set up 100 world-class industrial parks across the nation that are completely ready for investment.
The main goal is to improve India's manufacturing sector by building modern infrastructure.
This initiative aligns closely with major national programs like Make in India and PM Gati Shakti.
The government has allocated a total budget of around Rs 33,660 crore for this project.
This scheme will run for six years, starting from the financial year 2026-27 to 2031-32.

The scheme will help build brand new industrial parks and upgrade existing ones that qualify.
To build these parks, non-hilly states must provide at least 100 acres of land.
For hilly areas, Northeastern states, Union Territories, and smaller states, the minimum land requirement is 25 acres.
The government will select up to 50 parks in the first phase using a competitive system.
This selection will depend on factors like transport connectivity, site quality, policy support, and digital readiness.
These parks will offer ready-to-use facilities, reliable power, water, and smooth transport connections.
They will also feature waste treatment plants, testing labs, worker housing, and clean energy setups.

The government will execute these projects using special companies called Special Purpose Vehicles (SPVs) under the Companies Act, 2013.
The National Industrial Corridor Development Corporation (NICDC) will supervise and monitor the work.
The BHAVYA scheme will help attract massive investments from both Indian and foreign businesses.
It aims to reduce delays related to getting official approvals and acquiring land.
Lastly, the scheme will create new jobs, boost exports, and connect Indian factories to international trade networks.