Union Commerce Minister Piyush Goyal announced the launch of guidelines for the 'Bhavya (Bharat Audyogik Vikas Yojna) Scheme' on Saturday, as reported by ANI. The scheme has received Union Cabinet approval on March 18, 2026 and carries a financial outlay of ₹33,660 crore. According to Goyal, the scheme aims to create manufacturing and investment hubs through plug-and-play industrial parks in partnership with state governments. The scheme was notified on April 10, just a month after Cabinet approval, with operational guidelines issued on Thursday.
As reported by ANI, Goyal outlined an accelerated rollout plan for the scheme, stating that the first phase would include 25 industrial parks with applications invited from states within the next two months. The minister explained that another 30 parks will be established in the next two months, bringing the total to 50 parks in the next four months. This compressed timeline represents a significant acceleration from the original proposal, with Goyal noting he sent back the file and compressed the timeline to achieve faster implementation across the country.
According to Goyal's statement reported by ANI, the scheme represents another ease of doing business measure designed to create investment and manufacturing destinations. The parks will typically be 100 to 1,000 acres and are expected to promote multimodal logistics, social infrastructure such as schools, colleges and hospitals, sustainability, digital infrastructure and single-window clearances. Special Purpose Vehicles will be empowered as planning authorities to speed up approvals for factory, pollution, boiler and explosives licenses, common treatment plants, testing facilities and centres of excellence. States will provide land, while the Centre will fund common infrastructure at about ₹1 crore per acre.
As reported by ANI, the government will use objective criteria for selection and give preference to early applicants. Proactive states with land identified will be prioritised, and smaller parks may be considered for regions like Bastar to expand economic opportunities. Goyal emphasized that the scheme is designed for industrialisation, not just for exports like SEZs, and will also serve the domestic market. The minister noted that the 50 parks should be operational in the next three years, highlighting the urgency of the initiative amid India's economic resilience.
Goyal linked the Bhavya scheme to India's broader economic performance, citing record gross FDI of $95 billion for the year ended March 2026, up 17% YoY as evidence that India enjoys favor amongst global investors as a preferred investment destination. He noted that April's export growth pace continued into the last three weeks of May, with the government remaining focused on self-reliance, promoting domestic manufacturing, deep tech through the ₹1 lakh crore Research Foundation, and the ₹10,000 crore startup fund of fund 2.0. The minister also confirmed his visit to Canada starting Monday to meet counterpart Maninder Siddhu, with discussions planned on investments including the Maple 8 pension fund and a potential $50 billion trade target in five years under a proposed FTA.
