Early Times Report
JAMMU, Sept 15: The Bharat Audyogik Vikas Yojna (BHAVYA), an initiative of the Government of India, is set to give a major boost to industrial growth in Jammu and Kashmir by developing world-class industrial parks with modern infrastructure and plug-and-play facilities.
The J&K Government, notably, in a recent Cabinet meeting chaired by Chief Minister Omar Abdullah, approved the transfer of 671 kanals and 15 marlas of land at Village Pekhri (Padri) in Vijaypur, Samba district, for setting up a ready-to-use industrial park under the BHAVYA Scheme.
The land has been allotted to the Department of Industries and Commerce.
Director Industries and Commerce, Jammu, Dr Arun Manhas, when contacted, told UNI that "The scheme will help attract fresh investments, strengthen the MSME sector, generate employment and accelerate industrial development across the union Territory."
He said Jammu and Kashmir is set to receive a major industrial push under the Government of India's BHAVYA Scheme. Manhas said the investment-ready industrial parks would allow businesses to establish operations quickly by providing essential infrastructure, improving ease of doing business and reducing project implementation timelines.
"The investment-ready industrial parks will enable businesses to establish operations quickly by providing essential infrastructure, improving the ease of doing business and reducing project timelines," he said.
Dr Manhas added that the initiative will create new opportunities for entrepreneurs, promote manufacturing and contribute to balanced economic development across J&K.
The BHAVYA Scheme, he said, is also expected to enhance industrial competitiveness in Jammu and Kashmir, encourage private investment and pave the way for sustainable economic growth while creating employment opportunities for the region's youth
The Central Government initiative aims to build world-class, investment-ready industrial parks, he said, adding, "The project will help attract new companies, support local micro and small businesses (MSMEs) and create jobs for young people. The plug-and-play model offers ready-to-use factory units so businesses can start operations quickly."
According to the guidelines for implementation of the scheme, the total financial outlay for BHAVYA is Rs 33,660 crore, including an administrative fund of Rs 60 crore.
Manhas said that financial assistance will be provided under the scheme for the development of 100 industrial parks and that the parks will be selected in two or more phases.
"In the first phase, 50 projects shall be taken up. Each phase may have one or more rounds of selection, and the duration of the scheme is six years, from financial year 2026-27 to 2031-32," he stated.
Regarding the eligibility criteria, he said that in non-hilly states, an industrial park considered for selection under the scheme must have a minimum of 100 acres of contiguous land available for development.
He said non-contiguous, adjoining or connected parcels, not exceeding two, with a minimum area of 100 acres each and located within a radius of two kilometres, may also be considered.
Notably, in hilly States, the Northeast region, union Territories and states, including Himachal Pradesh, Uttarakhand, Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Sikkim, as well as the union Territories of Andaman and Nicobar Islands, Chandigarh, Dadra and Nagar Haveli and Daman and Diu, Delhi, Jammu and Kashmir, Ladakh, Lakshadweep and Puducherry, and Goa, the minimum area requirement is 25 acres of contiguous land available for development
Out of the 100 industrial parks to be developed, up to 20 industrial parks may have a development area between 500 and 1,000 acres, he stated.
"For proposals where the sponsoring agency proposes to develop larger parks in phases, funding will be limited to an upper cap for 1,000 acres," he said.
The land shall be provided by the state government, a private developer, jointly by the state government and a private developer, or a Central Public Sector Undertaking, as the case may be.
Moreover, the sponsoring agency or authority will be responsible for ensuring that 90 per cent of the encumbrance-free land is in the possession of the concerned agency at the time of submission of the application. |