Why in the news?

• The Ministry of Skill Development and Entrepreneurship has invited industry participation to spearhead the upgradation of ITIs under the PM-SETU Scheme.

PM-SETU Scheme

• Expansion of Abbreviation: Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs.
• What is it?: PM-SETU is a Centrally Sponsored Scheme launched to strengthen and modernise India’s vocational training ecosystem.
• Key Objective: It aims to upgrade 1,000 government ITIs into modern, industry-aligned training institutions to enhance employability and workforce readiness.
• Nodal Ministry: Ministry of Skill Development and Entrepreneurship
• Financial Outlay:  ₹60,000 crore over a five-year period (2022-23 to 2026-27)
• Key Components:
  • Industry-aligned curriculum: Introduction of new, demand-driven courses and revamping of existing ones.
  • Special Purpose Vehicles (SPVs): Formation of SPVs with credible Anchor Industry Partners to manage clusters and ensure outcome-based training.
  • Flexible learning pathways: Provision for long-term diplomas, short-term skill courses, and executive programmes.
  • Strengthening 5 National Skill Training Institutes (NSTIs)
• Collaboration: Backed by global co-financing from World Bank and Asian Development Bank (ADB).

Source: PIB