♦ The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Bharat Audyogik Vikas Yojna (BHAVYA) with an outlay of Rs.33,660 crore to develop 100 plug-and-play industrial parks across the country. The scheme is aimed at boosting manufacturing, attracting investments and generating large-scale employment, forming a key pillar of India’s vision for a ‘Viksit Bharat’ and Atmanirbhar Bharat.

♦ BHAVYA will focus on developing modern, ready-to-use industrial ecosystems, building on the success of industrial smart cities under the National Industrial Corridor Development Programme (NICDP).

♦ The initiative will be implemented in partnership with states and private players, with parks ranging in size from 100 to 1,000 acres. Financial assistance of up to Rs.1 crore per acre will be provided for core infrastructure such as roads, utilities, drainage and ICT systems; value-added facilities including factory sheds, testing labs and warehousing; and social infrastructure like worker housing and support amenities. Additional support of up to 25% of project cost will be extended for external connectivity infrastructure.

♦ The National Industrial Corridor Development Corporation (NICDC), under the Department for Promotion of Industry and Internal Trade, will play a key role in implementing the initiative. Currently, NICDC is overseeing 20 industrial projects across 13 states, focused on developing world-class smart industrial cities.