New Delhi, June 13 (SocialNews.XYZ) The Bharat Audyogik Vikas Yojana (BHAVYA) Scheme represents a bold and visionary step towards creating a new generation of industrial infrastructure in India, according to the industry.
The Union government has notified the guidelines of the Rs 33,660 crore BHAVYA Central Sector Scheme for selecting 50 proposals to set up industrial parks with world class infrastructure to facilitate investment for manufacturing growth and increasing employment in the country. Financial assistance will be provided under the scheme for the development of 100 industrial parks.
According to the India Cellular and Electronics Association (ICEA), this marks a decisive shift in India’s approach to industrial infrastructure, moving away from fragmented, supply-driven development towards a demand-responsive, competitive framework that rewards states demonstrating strong industrial potential, land readiness, investor interest, and sectoral strengths.
Pankaj Mohindroo, Chairman, ICEA, said that by adopting a competitive, state-driven model and leveraging a transparent digital platform, the scheme will enable the creation of world-class industrial ecosystems with modern infrastructure, seamless connectivity, and investor-friendly processes.
“This has the potential to significantly enhance India’s attractiveness as a preferred destination for both domestic and global investments while advancing the vision of Viksit Bharat 2047,” he mentioned.
While plug-and-play industrial parks have become a cornerstone of successful manufacturing ecosystems worldwide, India has remained out of sync with global best practices in industrial infrastructure.
BHAVYA can be a game-changing step towards correcting this structural weakness and positioning India as a more attractive manufacturing destination, according to the industry body.
According to Vimal Nadar, National Director and Head, Research, Colliers India, the scheme aims to create investment-ready industrial ecosystems with pre-approved land, ready infrastructure and integrated services in place, which will reduce timelines for setting manufacturing facilities and ultimately provide a boost to warehousing requirements in and around these parks.
The scheme is expected to promote the rise of new manufacturing centres, strengthen logistics and supply chains and usher in balanced economic development across the country, he said.
Source: IANS
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