ENA Economy 2026-03-19 14:50:06 <p><span style="font-size:14px"><strong>New Delhi, Mar 19 (KNN)</strong> The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Bharat Audyogik Vikas Yojana (BHAVYA) on Wednesday, with an outlay of Rs 33,660 crore to develop 100 plug-and-play industrial parks across the country.</span></p> <p><span style="font-size:14px">The scheme aims to strengthen industrial infrastructure, boost manufacturing, and support Indias long-term economic growth.</span></p> <p><span style="font-size:14px">BHAVYA will be implemented in partnership with states and private sector players, building on the experience of industrial smart cities under the National Industrial Corridor Development Programme (NICDP).</span></p> <p><span style="font-size:14px">The parks will offer ready-to-use infrastructure, including pre-approved land, utilities, and integrated services, enabling faster project execution and reducing entry barriers for investors.</span></p> <p><span style="font-size:14px">Industrial parks ranging from 100 to 1,000 acres will be developed, with financial support of up to Rs 1 crore per acre for core, value-added, and social infrastructure. Additional support of up to 25 per cent of project cost will be provided for external connectivity.</span></p> <p><strong><span style="font-size:14px">Push for Ease of Doing Business</span></strong></p> <p><span style="font-size:14px">The scheme emphasises simplified regulatory processes, single-window clearances, and state-led reforms to improve the ease of doing business. Project selection will be carried out through a challenge-based approach to ensure quality and investment readiness.</span></p> <p><strong><span style="font-size:14px">Employment, Investment and Sustainability</span></strong></p> <p><span style="font-size:14px">BHAVYA is expected to generate significant direct and indirect employment across manufacturing, logistics, and services, while attracting investments across states and Union Territories.</span></p> <p><span style="font-size:14px">The scheme will support cluster-based development by enabling co-location of industries, suppliers, and service providers, thereby strengthening domestic supply chains and promoting regional industrialisation.</span></p> <p><span style="font-size:14px">Primary beneficiaries include manufacturing units, MSMEs, startups, and global investors, while workers and local communities are expected to benefit indirectly.</span></p> <p><span style="font-size:14px">The proposed parks will align with PM GatiShakti principles, focusing on multimodal connectivity and efficient logistics. They will incorporate green energy use and integrated underground utility systems to ensure operational efficiency and sustainability.</span></p> <p><em><strong><span style="font-size:14px">(KNN Bureau)</span></strong></em></p> 45517 https://knnindia.co.in/news/newsdetails/economy/govt-approves-rs-33660-cr-bhavya-scheme-to-develop-100-industrial-parks-across-india 2026-03-19 14:50:06 knnindia.co.in