New Delhi: Centre Saturday said it has opened a four-month window for states to submit applications for setting up 50 industrial parks under the Rs 33,660 crore Bharat Audyogik Vikas Yojna (BHAVYA) scheme.
On March 18, the Union Cabinet approved the scheme for developing 100 plug-and-play industrial parks across the country.
It aims to develop world-class industrial infrastructure, unlock manufacturing potential and drive the country’s economic growth.
Briefing the media on the subject, Commerce and Industry Minister Piyush Goyal said applications from states are being invited for 20 parks in the first two months and for another 30 in the subsequent two months.
These 50 parks will be approved in the first phase, and the remaining 50 in the next phase.
The scheme will be implemented in partnership with states and private sector players.
Under the scheme, industrial parks ranging from 100 to 1,000 acres will be taken up for development, he said, adding that the financial support of up to Rs 1 crore per acre will be provided for infrastructure development.
For hilly states, a park can also be approved on 25 acres of land.
The selection process will be through a “challenge method”, and states that provide better facilities, such as land, water and power, are likely to attract investors, Goyal said, adding that states like Rajasthan, Maharashtra, West Bengal and Haryana are showing keen interest.
“I invite all states and Union territories to participate in this. From today, we are inviting applications from the states/UTs in the next four months. We are looking for applications for 50 industrial parks so that we can quickly start rolling out the scheme across the country,” he said.
There is also a provision under the scheme for states to partner with private players and submit proposals, under which the Centre will provide assistance of Rs 50 lakh per acre, Goyal said.
States should set up a special purpose vehicle (SPV), notify a planning authority and establish a single-window clearance mechanism to ensure faster approval of their applications.
“We expect that in three years, these 50 parks will be operationalised,” Goyal said.
By fostering cluster-based development and enabling co-location of industries, suppliers, and service providers, BHAVYA will strengthen domestic supply chains, promote regional industrialisation, and create new opportunities for millions of people.
The scheme will benefit manufacturing units, MSMEs, startups, and global investors seeking ready-to-use industrial infrastructure.
PTI
