Context:
Union Minister of Commerce & Industry, Shri Piyush Goyal, Launches BHAVYA Portal to fast-track the development of 100 investment-ready, world-class industrial parks across India (Under BHAVYA Scheme).
Explanation:
- BHAVYA (Bharat Audyogik Vikas Yojana) is a flagship industrial infrastructure scheme aimed at developing 100 plug-and-play industrial parks to create world-class, future-ready manufacturing ecosystems across India.
- The scheme will be implemented over a six-year period starting from 2026–27, with around 50 parks to be developed in the first phase.
- It builds upon the success of industrial smart cities under the National Industrial Corridor Development Programme (NICDP) and represents a next-generation expansion of the industrial corridor model.
- Scheme will adopt a competitive model under which States will be encouraged to submit detailed project proposals highlighting their industrial strengths, availability of land, investor interest and sectoral potential.
- It will seek to ensure that industrial parks are designed according to the specific needs of different sectors and investors, making them more attractive destinations for domestic and global investments.
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