New Delhi, June 13 (IANS). Bharat Industrial Development Plan (BHAVYA) is a bold and visionary step towards developing new generation industrial infrastructure in the country. The industry believes that this scheme will give a new impetus to India’s industrial development.
The Central Government has issued guidelines for the grand Central Sector Scheme of Rs 33,660 crore. Under this, 50 proposals will be selected to establish industrial parks equipped with world-class facilities, so that investment in the manufacturing sector increases and new employment opportunities are created. Under this scheme, financial assistance will be provided for the development of 100 industrial parks.
According to the India Cellular and Electronics Association (ICEA), the plan will bring a sea change in the way India develops its industrial infrastructure. Now instead of scattered and supply-based development, a demand-based and competitive system will be promoted. Preference will be given to those states which perform better on the basis of industrial capacity, land availability, investor interest and regional characteristics.
ICEA President Pankaj Mohindroo said that world-class industrial ecosystems can be developed through competitive models and transparent digital platforms driven by states. These will have modern infrastructure, better connectivity and favorable procedures for investors.
“This scheme can play an important role in making India a preferred destination for domestic and global investment and will help in furthering the goal of ‘Develop India 2047’,” he said.
Plug-and-play industrial parks have become an important part of successful manufacturing ecosystems in many countries across the world, but India has so far lagged behind global standards in this area.
The industry believes that the grand plan can prove instrumental in addressing this structural weakness and making India a more attractive manufacturing hub.
According to Vimal Nadar, National Director and Head of Research, Colliers India, the objective of this scheme is to develop industrial areas that are completely ready for investment. These will have pre-approved land, ready infrastructure and integrated services.
He said that this will reduce the time taken in setting up manufacturing units and will also increase the demand for warehousing around these industrial parks.
According to Nadar, the scheme will promote the development of new manufacturing hubs, strengthen logistics and supply chains and pave the way for balanced economic growth across the country.
–IANS
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