New Delhi [India], August 17 (ANI): The Bharat Audyogik Vikas Yojana (BHAVYA), which envisages the development of 100 investment-ready, plug-and-play industrial parks across the country, has received 87 applications from States against up to 20 projects proposed for approval in the first round.
The Apex Monitoring Authority of the National Industrial Corridor Development and Implementation Trust (NICDIT) reviewed the rollout of BHAVYA at its third meeting chaired by Union Minister for Finance and Corporate Affairs Nirmala Sitharaman in New Delhi on Monday.
“Against up to 20 projects proposed for approval in the first round, 87 applications have been received from States, reflecting strong interest in the scheme across the country,” the Ministry of Commerce and Industry said.
The meeting reviewed the progress of projects under the National Industrial Corridor Development Programme (NICDP) and deliberated on priorities for the next phase of industrial corridor development.
The Finance Minister stressed that the focus must now move beyond project approvals towards timely completion of infrastructure, land allotment, investment and commencement of production. She urged States to resolve bottlenecks relating to land, connectivity, utilities, statutory clearances and the powers of project Special Purpose Vehicles (SPVs).
Union Minister for Commerce and Industry Piyush Goyal stated that BHAVYA and future industrial developments should be aligned with PM GatiShakti and planned through an integrated area-development approach.
He called for focused investor outreach and stronger marketing of industrial nodes, including leveraging opportunities arising from India’s Free Trade Agreements and exploring country- and sector-specific industrial enclaves.
The Minister emphasised the need to match investor requirements with suitable locations and develop ready-to-use industrial ecosystems with plug-and-play infrastructure, flatted factories, worker housing and supporting economic and social infrastructure.
Such an approach, he said, would facilitate faster investment and commencement of operations.
The appraisal of proposals will focus on factors including availability of ready land, credible industrial demand, strong connectivity, assured utilities, realistic phasing and the ability to attract investors at an early stage.
BHAVYA will build on the experience gained from Industrial Corridor projects.
The National Industrial Corridor Development Programme now covers 20 approved projects across 13 States and 7 Industrial Corridors.
Four industrial smart cities – Dholera, Shendra-Bidkin, Greater Noida and Vikram Udyogpuri – have entered the production stage.
So far, 469 plots covering approximately 5,348 acres have been allotted, with an estimated investment potential of around ₹2.21 lakh crore and employment potential of approximately 1.29 lakh persons. 134 units are already in production, while another 95 units are under construction.
The Apex Authority underlined that the next measure of progress would be the speed at which completed and ongoing projects translate into active manufacturing centres, investment and employment. (ANI)
(This content is sourced from a syndicated feed and is published as received. The Tribune assumes no responsibility or liability for its accuracy, completeness, or content.)
