BHAVYA Scheme Guidelines

Source: PIB
GS III: Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth

Overview

1. News in Brief
2. BHAVYA Scheme Guidelines
3. About BHAVYA Scheme
4. About National Industrial Corridor Development Corporation (NICDC)

Why in the News?

Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India, has released the detailed operational guidelines for the implementation of the BHAVYA Scheme.

News in Brief

• The Guidelines provide for the development of both greenfield and eligible brownfield industrial parks.
• The release of the Guidelines marks an important step towards operationalization of BHAVYA
• Creation of globally benchmarked industrial infrastructure capable of
  • Attracting large-scale manufacturing investment
  • Strengthening domestic supply chains
  • Generating employment
  • Enhancing India’s integration with global value chains.

BHAVYA Scheme Guidelines

• Minimum land requirements have been prescribed at

  

  • 100 acres for non-hilly states
  • 25 acres for hilly states, northeastern states, Union Territories, and smaller states
• The Scheme also permits consideration of larger parks up to 1000 acres.
• The Guidelines provide for the development of both greenfield and eligible brownfield industrial parks.
• The Scheme also permits consideration of larger parks up to 1000 acres.
• Additionally, structured provisions for the participation of private developers in the industrial park. 
• Provide for convergence with relevant Central and State Government initiatives for
  • Logistics, skilling, sustainability
  • Renewable energy, utility infrastructure
  • Industrial development.

About the BHAVYA Scheme

• BHAVYA Scheme is a landmark Central Sector Scheme aimed at developing investment-ready, world-class industrial parks across the country.
• BHAVYA has been designed to strengthen
  • India’s manufacturing ecosystem through the development of an integrated industrial infrastructure.
  • This infrastructure is to be aligned with the objectives of Make in India and PM Gati Shakti.
  • Government’s broader vision of positioning India as a globally competitive manufacturing destination.
• The Scheme provides for the development of 100 industrial parks over a period of six years
• Targeting from 2026-27 to 2031-32.
• Scheme with a total financial outlay of approximately ₹33,660 crore.
• First phase
  • Up to 50 industrial parks will be taken up through a challenge-based competitive selection process.
• The major focus of the Scheme is
  • Creation of “investment-ready” industrial ecosystems with plug-and-play infrastructure
  • Multimodal logistics connectivity
  • Reliable utility systems
  • Worker-support infrastructure
  • Digital governance systems
  • Sustainable development features.
• The scheme will provide financial assistance in the form of equity contribution linked to the value of land transferred to the SPV and achievement of prescribed project milestones.
• National Industrial Corridor Development Corporation (NICDC) is the implementation and monitoring agency

National Industrial Corridor Development Corporation (NICDC)

• Under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
• Aiming to develop new industrial cities as ‘Smart Cities’ and to converge next-generation technologies.
• Government of India is developing various industrial corridor projects as part of the National Industrial Corridor Programme
• Development of futuristic industrial cities in India that can compete with world-level competitors.
• This will create employment opportunities and economic growth, leading to overall socio-economic development.

Daily Current Affairs: Click Here

Rate this Article and Leave Feedback