From Financialexpress · Manu Kaushik · · 1m 20s
PM-SETU ITI Clusters Upgrade Begins
Government starts upgrading six PM-SETU ITI clusters in two months with 20 more in pipeline.
In brief
Government starts upgrading six PM-SETU ITI clusters in two months with 20 more in pipeline. India's government will upgrade six public-sector ITI clusters under PM-SETU scheme within two months, with 20 additional clusters in pipeline to enhance vocational training infrastructure. Originally reported by…
PM-SETU Scheme Upgrade
The government plans to upgrade at least six clusters of public-sector ITIs under the PM-SETU scheme within two months.
15 Approved SIPs, 20 in Pipeline
The National Steering Committee approved 15 strategic investment plans (SIPs) with another 20 expected to be completed over the next couple of months.
Cluster Structure
Each cluster typically comprises five ITIs, one hub and four spokes, covered by one SIP.
Industry Partnerships
Major companies like Jindal Steel, Apollo MedSkills, and Tata Steel have joined the initiative, taking clusters in Haryana, Odisha, and Hyderabad.
Funding Structure
The central government contributes 50% of investment, states 33%, and industry partners around 17%, with industry holding 51% stake in SPVs.
SPV Incorporation
An SPV for the Bhiwadi cluster has been incorporated, with Rajasthan government and H.G. Infra Engineering as shareholders.
Next Steps
Industry partners will prepare annual operating plans after SPV incorporation to begin upgrading infrastructure within clusters.
The bottom line
India's government will upgrade six public-sector ITI clusters under PM-SETU scheme within two months, with 20 additional clusters in pipeline to enhance vocational training infrastructure.
