India approves ₹33,660 crore BHAVYA scheme to build 100 industrial parks
Change
India approved a ₹33,660 crore Bharat Audyogik Vikas Yojna to build 100 plug-and-play industrial zones, offering up to ₹1 crore per acre in capital support and targeting about 1.5 million direct jobs.
Why it matters
The approval creates a central funding stream that prioritises development of large, ready-to-occupy manufacturing sites and ties access to public capital to projects chosen under the programme. State and local authorities will need to allocate and prepare suitably sized contiguous land tracts to compete for the scheme’s support, changing how industrial land is brought to market.
Implications
- • State nodal industrial development agencies must identify, consolidate and submit proposals for contiguous land parcels sized between 100 and 1,000 acres to qualify for scheme funding.
- • Industrial park developers must design plug-and-play infrastructure packages that meet the programme’s eligibility criteria to secure central capital support.
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