Skill development intiative

The Centre’s Rs 60,000 crore skilling scheme has been discussed by the Chief Secretary with industry stakeholders, focusing on upgrading 1,000 government-run Industrial Training Institutes (ITIs) and establishing five National Centres of Excellence for Skilling. This initiative aims to provide industry-aligned training to 2 million youth over five years, enhancing their employability and meeting industry demands.

The scheme involves a collaborative funding approach, with Rs 30,000 crore from the central government, Rs 20,000 crore from state governments, and Rs 10,000 crore from industry partners. The Asian Development Bank and the World Bank will co-finance 50% of the central share. This partnership highlights the importance of skilling in India’s economic growth and development.

The initiative is expected to transform India’s vocational education landscape, creating a pipeline of skilled workers aligned with industry demands and supporting the nation’s vision of becoming a global manufacturing and innovation powerhouse. By providing industry-aligned training, the scheme will help bridge the gap between the skills possessed by the workforce and the requirements of the industry.

The skilling scheme will play a crucial role in shaping India’s future workforce, enabling them to adapt to the changing job market and technological advancements. With the implementation of this scheme, India is poised to become a hub for skilled workforce, attracting investments and driving economic growth.