9APRIL 2026The Union Cabinet has approved the Bharat Audyogik Vikas Yojana (BHAVYA), a Rs 33,660 crore major sector initiative desired at developing 100 plug-and-play industrial parks across India by 2031-32.This project seeks to transform India into a global manufacturing hub, capitalizing on the country's policy certainty, skilled workforce, and growing design capabilities, according to Ashwini Vaishnaw, Union Minister of Information and Broadcasting.The BHAVYA initiative is being directed through the National Industrial Corridor Development Programme (NICDC) to serve as a nodal agency and partner with state governments and Central Public Sector Enterprises (CPSUs), utilizing Special Purpose Vehicles (SPVs). India and Germany have agreed to deepen their defence partnership through a new industrial roadmap designed to strengthen cooperation in military manufacturing, technology sharing, and long-term strategic projects. The agreement was finalized during Defence Minister Rajnath Singh's visit to Berlin, reflecting growing ties between the two nations in a rapidly changing global security environment.The roadmap aims to encourage closer collaboration between defence industries in both countries. It focuses on joint production, technology partnerships, and the development of advanced defence systems. Officials from India and Germany highlighted the importance of creating strong industrial links that can support future defence requirements while improving supply chain capabilities.For India, the agreement supports its broader goal of strengthening domestic defence manufacturing. The country has been encouraging foreign partnerships that help bring technology, expertise, and investment into the local defence sector. Germany, known for its engineering and defence capabilities, is seen as an important partner in achieving these goals. Andhra Pradesh is taking another major step toward clean energy growth as Chief Minister N. Chandrababu Naidu is set to lay the foundation stone for a 5,400 crore solar manufacturing facility by ReNew Energy Global plc in Anakapalli district.The project will come up at Gajireddypalem in Rambilli mandal and is expected to strengthen India's renewable energy manufacturing ecosystem. It reflects the growing focus on expanding domestic production of solar components while reducing reliance on imports.The facility will manufacture solar ingots and wafers, which are essential components used in solar panel production. Once operational, the plant is expected to have a manufacturing capacity of around 6 to 6.5 gigawatts (GW). A captive power plant, estimated at 1,200 crore, will also be developed to ensure a steady power supply for manufacturing operations. India has officially launched its rare earth magnet scheme, inviting bids on March 20 to set up domestic manufacturing units under a INR 7,280 crore incentive program.The move marks a major step toward reducing the country's reliance on imports and strengthening critical supply chains for fast-growing sectors like electric vehicles and renewable energy.The government is targeting a production capacity of around 6,000 tonnes per year through this initiative. The scheme is designed to support companies that can build and operate facilities covering the entire value chain, from processing raw materials to producing finished magnets. These magnets are essential components used in EV motors, wind turbines, electronics, and defense applications. UNION CABINET APPROVES RS 33,660 CRORE BHAVYA SCHEME FOR 100 PARKSINDIA & GERMANY DEEPEN DEFENCE TIES WITH NEW INDUSTRIAL PACT STRATEGYANDHRA PRADESH BOOSTS GREEN ENERGY WITH RS 5,400 CRORE SOLAR PLANTINDIA CALLS BIDS FOR INR 7,280 CR RARE EARTH MAGNET SCHEME
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