India's Rs.33,600cr BHAVYA Plan
India unveiled the Rs.33,600 crore 'BHAVYA' scheme to boost domestic electronics, components and semiconductor manufacturing capacity, signaling heavy government support for local supply‑chain resilience. The program is positioned to attract investment and scale up India as a parts and assembly hub for global OEMs. (eletimes.ai)
Union Cabinet approved the Bharat Audyogik Vikas Yojna (BHAVYA) on March 18, 2026, allocating Rs 33,660 crore to the program. (pib.gov.in) The plan targets development of 100 “plug-and-play” industrial parks across roughly 34,000 acres, with individual parks sized between 100 and 1,000 acres and projects to be selected through a competitive “challenge mode” based on PM GatiShakti, green‑energy and ease‑of‑doing‑business criteria. (economictimes.indiatimes.com) The Department for Promotion of Industry and Internal Trade (DPIIT) is the nodal authority and the National Industrial Corridor Development Corporation (NICDC) will implement the scheme, which is slated to run from FY 2026‑27 through FY 2031‑32. (insightsonindia.com) Central financial support includes up to Rs 1 crore per acre for core and value‑added infrastructure inside parks, and up to 25% central support for external connectivity such as roads and logistics links, with implementation structured as a central‑sector scheme in partnership with states and the private sector. (indianexpress.com) The government estimates BHAVYA will create about 1.5 million (15 lakh) direct jobs and shorten “intent‑to‑production” timelines for investors by delivering ready land, utilities and single‑window clearances. (thehindu.com) Facilities planned within the parks explicitly include core utilities, ICT‑enabled systems, factory sheds, warehousing and testing/certification labs and built‑to‑suit units—features aimed at cutting setup time for electronics OEMs, component makers and specialized manufacturing such as testing and value‑added services. (clearias.com)
