India Unveils Ambitious BHAVYA Scheme to Boost Industrial Growth

Government Launches BHAVYA Initiative

New Delhi: On Wednesday, the Indian government greenlit the Bharat Audyogik Vikas Yojna (BHAVYA), allocating a substantial budget of Rs 33,660 crore to establish 100 plug-and-play industrial parks nationwide.

This initiative is designed to create top-tier industrial infrastructure, which will enhance manufacturing capabilities and contribute significantly to India's economic growth, as stated by Information and Broadcasting Minister Ashwini Vaishnaw during a press briefing regarding the Cabinet's decisions.

During the Cabinet meeting led by Prime Minister Narendra Modi, the BHAVYA scheme was approved, with expectations to create approximately 1.5 million direct employment opportunities.

The initiative will focus on developing industrial parks that span between 100 to 1,000 acres, with financial assistance of up to Rs 1 crore allocated for each acre.