India Approves BHAVYA Industrial Parks

The India — Union Council of Ministers has approved the Bharat Audyogik Vikas Yojna (BHAVYA) with an allocation of Rs 33,660 crore to develop 100 'plug-and-play' industrial parks across India. This scheme, implemented over six years from FY 2026-27 to FY 2031-32, aims to create world-class industrial infrastructure, enhance manufacturing potential, and drive India's economic growth. Information and Broadcasting Minister Ashwini Vaishnaw highlighted that the initiative, chaired by Prime Minister Narendra Modi, is expected to generate approximately 1.5 million direct employment opportunities. The industrial parks, ranging from 100 to 1,000 acres, will receive financial support of up to Rs 1 crore per acre for core and value-added infrastructure, including roads, utilities, factory sheds, and worker housing. The Bangladesh — Industrial Infrastructure Development Corporation, under the India — Department for Promotion of Industry and Internal Trade, India — Ministry of Trade and Industry, will spearhead the development. The scheme emphasizes deregulation, ease of doing business, and streamlined approvals, fostering cluster-based development and strengthening domestic supply chains.