India Approves Rs 33,660 Crore for 100 Industrial Parks

India's Union Cabinet approved the Bharat Audyogik Vikas Yojna, or BHAVYA, on March 18, allocating Rs 33,660 crore to develop 100 plug-and-play industrial parks nationwide. The initiative, chaired by Prime Minister Narendra Modi, aims to bolster the country's manufacturing sector by providing ready-to-use infrastructure, attracting investments and generating employment.

The scheme focuses on creating world-class industrial ecosystems where businesses can transition from planning to production swiftly, without delays in land acquisition or approvals. Each park will span 100 to 1,000 acres, tailored to local demands and suitable for large industries as well as small and medium enterprises. Financial support of up to Rs 1 crore per acre will fund core infrastructure, including internal roads, electricity, water supply, drainage systems and digital connectivity. Additional value-added facilities, such as factory sheds, testing laboratories, warehousing and worker housing, will also be developed to support operations and workforce needs.

External connectivity will receive up to 25 percent of project costs for enhancements like roads, rail links and logistics networks, ensuring...