The introduction of the Bharat Audyogik Vikas Yojana (BHAVYA), a plug-and-play industrial development program with the goal of increasing manufacturing’s GDP share to 25% by 2032, is expected to accelerate India’s efforts to grow its manufacturing sector.
The Union Cabinet recently approved the plan, which calls for the construction of 100 industrial parks throughout the nation with pre-approved property, ready-to-use infrastructure, and expedited clearances. The concept is intended to lower entrance barriers and facilitate firms’ quicker operationalization.
Nirmal K. Minda, President of ASSOCHAM, called the project a “historic breakthrough,” emphasizing its potential to boost MSMEs’ and startups’ growth and make doing business easier.
According to Prime Minister Narendra Modi, the program will enhance logistics and related industries while expediting clearances through single-window procedures.
With funding of up to ₹1 crore per acre, industrial parks encompassing 100–1,000 acres would be built under BHAVYA. These parks will have both core and value-added infrastructure, including roads, utilities, testing facilities, and warehouses.
According to experts, the project has the potential to greatly increase India’s competitiveness in the global market and draw substantial investments.
Source – Zee News
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