Summary:

The government's new project, announced in the Union Budget 2024-25, aims to invest $7.15 billion (Rs. 60,000 crore) over five years to revamp industrial training institutes (ITIs). The Ministry of Skill Development and Entrepreneurship (MSDE) will collaborate with states and industry to provide skills training to 2 million young people through 1,000 upgraded ITIs. The initiative will focus on sectors such as construction, green energy, and advanced manufacturing, with the goal of developing a skilled workforce through industry engagement.

The program will establish 200 hub ITIs and 800 spoke ITIs through a challenge-based selection process, with hubs offering industry-focused short-term courses and spokes providing the necessary infrastructure. It also includes expanding the five National Skill Training Institutes to train 50,000 individuals. Of the $7.15 billion investment, $3.57 billion will come from the Centre, $2.38 billion from states for trainer training, and $1.19 billion from industry for infrastructure.

Source: IBEF 

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