New Delhi, March 20 (SocialNews.XYZ) The plug‑and‑play industrial development under the Bharat Audyogik Vikas Yojna (BHAVYA) could raise the share of manufacturing in India's GDP to 25 per cent by 2032, experts said on Friday.
ASSOCHAM President Nirmal K. Minda praised the BHAVYA model calling it a historic breakthrough in India’s manufacturing sector adding that a seamless, end-to-end ease-of-doing-business model, from approvals to operations, will meet the aspirations of New India and contribute to the vision of Viksit Bharat.
Emphasising the critical role of MSMEs as key drivers of India’s economic growth, Minda remarked that BHAVYA will strengthen their growth trajectory and enhance their resilience in the global ecosystem.
The future-ready, sustainable, and efficient industrial parks will help MSMEs and startups become robust and globally competitive, he noted.
BHAVYA has the potential to expand India’s industrial landscape, mitigate global headwinds, and elevate the country’s growth potential to the next level, he added.
The Union Cabinet earlier this week approved the BHAVYA scheme to develop 100 plug-and-play industrial parks across the country.
The scheme is aimed at strengthening industrial infrastructure, attracting fresh investments, and creating large-scale employment opportunities while improving ease of doing business through faster approvals and single-window systems.
"The scheme will significantly enhance ease of doing business through streamlined approvals and single-window systems. It will boost logistics and services sectors too," Prime Minister Narendra Modi had said earlier this week.
The plug-and-play model will allow industries to begin operations quickly, supported by pre-approved land, ready infrastructure, and integrated services, significantly reducing entry barriers for investors.
Under the scheme, industrial parks spanning 100 to 1,000 acres will be developed with financial assistance of up to Rs 1 crore per acre. This will cover core infrastructure such as internal roads, utilities, drainage systems, and common facilities, along with value-added infrastructure like factory sheds, testing labs, and warehousing.
—IANS
aar/pk
Source: IANS
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