BHAVYA scheme receives 87 applications for industrial park development

The Bharat Audyogik Vikas Yojana (BHAVYA) scheme, which aims to develop 100 investment-ready, plug-and-play industrial parks across India, has received 87 applications from various states. This comes against a target of up to 20 projects proposed for approval in the first round of the scheme.

During the third meeting of the Apex Monitoring Authority of the National Industrial Corridor Development and Implementation Trust (NICDIT) in New Delhi, Union Minister for Finance and Corporate Affairs Nirmala Sitharaman emphasized the need to transition from project approvals to the timely completion of infrastructure. She urged states to address bottlenecks regarding land, connectivity, utilities, and statutory clearances.

Union Minister for Commerce and Industry Piyush Goyal noted that industrial developments should align with PM GatiShakti through an integrated area-development approach, calling for stronger investor outreach and marketing of industrial nodes.