The Ministry of Commerce and Industry has received 87 applications from 24 states and Union territories in the first round of Phase I of the Bharat Audyogik Vikas Yojana (BHAVYA), the Centre’s flagship scheme to develop industrial parks across the country, Parliament was informed on Friday.
The applications will now be evaluated and scored in accordance with the eligibility and assessment criteria prescribed under the scheme’s guidelines, Minister of State for Commerce and Industry Jitin Prasada said in a written reply to a question in the Rajya Sabha.
In the first phase of the scheme, the government plans to develop 50 industrial parks. The first round of applications, invited between June 1 and July 31, was for the development of 20 parks.
Maharashtra submitted the highest number of applications at 14, followed by Madhya Pradesh with 11. Tamil Nadu and Uttar Pradesh submitted seven applications each.
The ₹33,660-crore BHAVYA scheme, notified on April 10, aims to establish 100 investment-ready industrial parks with world-class infrastructure to facilitate manufacturing investments and expand the country’s industrial capacity. The parks, with a minimum area of 100 acres, will be developed over six years beginning FY27, while the scheme also allows larger parks of up to 1,000 acres to be considered.
Under the scheme the centre 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.