New Delhi, March 19 -- The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Bharat Audyogik Vikas Yojana (BHAVYA), a major initiative aimed at accelerating industrial growth and strengthening India's manufacturing ecosystem. The scheme has been allocated a total outlay of Rs.33,660 crore and will focus on developing 100 plug-and-play industrial parks across the country.

The BHAVYA scheme seeks to build world-class industrial infrastructure and unlock manufacturing potential by creating ready-to-use industrial ecosystems. These parks, ranging from 100 to 1000 acres, will provide pre-approved land, integrated services, and modern infrastructure, enabling industries to move quickly from planning to production. Financ...