The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Bharat Audyogik Vikas Yojna (BHAVYA) on March 18, 2026, with a total financial outlay of ₹33,660 crore over six years from FY 2026–27 to FY 2031–32. The scheme aims to develop 100 world-class plug-and-play industrial parks spread across approximately 33,600 acres nationwide, with the nodal ministry being the Department for Promotion of Industry and Internal Trade (DPIIT) and implementation through the National Industrial Corridor Development Corporation (NICDC).

The parks will offer ready-to-use infrastructure including roads, power, water, telecommunications, and logistics connectivity, enabling industries to commence operations without procedural delays. States, Central Public Sector Enterprises (CPSEs), and private players can participate in setting up these parks. BHAVYA is expected to generate 15 lakh direct jobs in manufacturing, plus significant indirect employment in logistics and services. The scheme complements India's Make in India initiative and the Production Linked Incentive (PLI) schemes. For Rajasthan, which already benefits from the Delhi-Mumbai Industrial Corridor (DMIC), BHAVYA offers an opportunity to set up new industrial parks leveraging the state's mineral wealth and improving its investment climate post the Rising Rajasthan Summit 2024.