More Stories

Informist, Saturday, May 23, 2026

NEW DELHI – Commerce and Industry Minister Piyush Goyal Saturday unveiled the guidelines for the Bharat Audyogik Vikas Yojana, or BHAVYA, scheme, at a press conference in New Delhi. In the first phase of the scheme, the government invited bids for 50 industrial parks over four months from states. It had split the first phase into two, with the applications for the first 20 parks in the next 60 days, Goyal said.

The government had fast-tracked the roll-out of the scheme to improve investment and also because of the enthusiasm among state governments to participate in it, the Union minister said. The government aims to develop 100 plug-and-play industrial parks across the country under the scheme, which was approved by the Cabinet in March at an outlay of INR 336.60 billion for six years. Goyal said he expects the industrial parks under the first phase to be ready within a maximum of three years and may incentivise states for quicker implementation.

"Many states are proactive. They have already worked on land acquisition, land development and land identification," the minister said, highlighting requests from West Bengal and Maharashtra. "Our effort is to provide ease of starting business for entrepreneurs as the first step of ease of doing business."

The states will have to submit the bids in a challenge mode and the Centre will approve applications based on an objective criteria, Goyal said. These include multimodal connectivity, infrastructure quality, industrial ecosystem strength, and long-term sustainability. The parks will get single-window clearance from the Centre for entities setting up within the area. The Centre will also match logistical support depending on cost of the land acquired, of up to INR 10 million per acre. Industrial parks set up on private land on which a state government proposes an industrial park will get logistical support of up to INR 5 million per acre, matching the land's cost. 

The industrial parks in non-hilly states must be at least 100 acres, while they can start from 25 acres in hilly states, north-eastern states, Union territories, and smaller states, the government said in a release. Development of each park should be through a special purpose vehicle for better safeguards and accountability, Goyal said. The National Industrial Corridor Development Corporation will be the project management agency for the scheme.  End

Reported by Aaryan Khanna 

Edited by Akul Nishant Akhoury

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (11) 4220-1000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.