BHAVYA Scheme Garners Nationwide Interest: 87 Applications for Industrial Parks Development

The Bharat Audyogik Vikas Yojana (BHAVYA) has received 87 applications from States for up to 20 industrial projects. The scheme aims to develop 100 investment-ready parks. The government emphasizes moving beyond project approvals to infrastructure completion. BHAVYA aligns with PM GatiShakti, focusing on integrated development and investor engagement.

The Bharat Audyogik Vikas Yojana (BHAVYA), aiming to develop 100 investment-ready industrial parks, has seen overwhelming interest with 87 applications submitted by various States for the initial phase of project approvals. The announcement came after the third meeting of the Apex Monitoring Authority of the National Industrial Corridor Development and Implementation Trust (NICDIT), presided over by Union Finance Minister Nirmala Sitharaman in New Delhi.

According to the Ministry of Commerce and Industry, the influx of applications reflects a strong nationwide interest in the initiative. The meeting also reviewed the ongoing projects under the National Industrial Corridor Development Programme (NICDP) and set priorities for the next development phase. Minister Sitharaman emphasized shifting focus from mere project approvals to ensuring timely completion of infrastructure, land allocation, and operational commencement.

Commerce and Industry Minister Piyush Goyal stressed aligning BHAVYA with PM GatiShakti for comprehensive area development. He highlighted the necessity for effective marketing of industrial nodes, leveraging free trade agreements, and developing targeted industrial enclaves. The goal is to foster rapid investment and operation initiation by providing well-prepared industrial ecosystems.