REGULATORY · MARKET STRUCTURE · COMPETITIVE · INDIA
Government approves BHAVYA industrial parks scheme
Change
On March 18, 2026, the government approved the ₹33,660 crore Bharat Audyogik Vikas Yojna (BHAVYA) to develop 100 plug-and-play industrial parks nationwide.
Why it matters
The Cabinet approved the BHAVYA scheme on March 18, 2026 with funding of ₹33,660 crore. The scheme targets development of 100 plug‑and‑play industrial parks across the country. Parks will range in size from 100 to 1,000 acres. Financial support is set at up to ₹1 crore per acre and the scheme is expected to generate about 15 lakh direct jobs.
Implications
- · Central budget lines are allocated to designated BHAVYA park developments.
- · Per‑acre financing capped at ₹1 crore limits the maximum central support available per acre.
- · Eligibility constrained to parks sized between 100 and 1,000 acres for BHAVYA funding.
- · Only 100 designated sites will receive BHAVYA funding, concentrating public investment.
Who is affected
- · Industrial park developers
- · Manufacturers seeking plug‑and‑play sites
- · State and local land and planning authorities
- · Central implementing ministries and project agencies
Source
Topics
World & Politics Policy & Regulation Development Business & Markets Manufacturing