Union Minister of Commerce and Industry Piyush Goyal on Saturday released the detailed operational guidelines for the implementation of the BHAVYA Scheme, a landmark Central Sector Scheme aimed at developing investment-ready, world-class industrial parks across the country.
Addressing the media, Goyal said the scheme provides for development of 100 industrial parks over a period of six years from 2026-27 to 2031-32, with a total financial outlay of approximately Rs 33,660 crore.
In the first phase, up to 50 industrial parks will be taken up through a challenge-based competitive selection process, the Minister said.
The major focus of the scheme is on creation of “investment-ready” industrial ecosystems with plug-and-play infrastructure, multimodal logistics connectivity, reliable utility systems, worker-support infrastructure, digital governance systems, and sustainable development features.
He highlighted that the guidelines provide for development of both greenfield and eligible brownfield industrial parks. Minimum land requirements have been prescribed at 100 acres for non-hilly states and 25 acres for hilly states, northeastern states, Union Territories, and smaller states. The Scheme also permits consideration of larger parks up to 1,000 acres.
“Under the challenge-based selection framework, proposals will be evaluated on objective parameters including multimodal connectivity, site suitability, quality of infrastructure, industrial ecosystem strength, policy facilitation, digital governance readiness, and long-term sustainability,” said Goyal.
He added that the implementation of projects under BHAVYA will be undertaken through Special Purpose Vehicles (SPVs) incorporated under the Companies Act, 2013. The SPVs will be responsible for project planning, development, operation, management, investor facilitation, and long-term maintenance of assets created under the scheme.
Furthermore, 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.
The National Industrial Corridor Development Corporation (NICDC) has been designated as the Project Management Agency (PMA) for implementation and monitoring of the Scheme.
