PM-SETU: Shareholders' Agreements Signed with AM/NS India for Surat and Visakhapatnam ITI Clusters; ₹440 Crore Approved for Upgrading Nine Government ITIs

Key facts

• Shareholders' Agreements have been signed under the Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs (PM-SETU) scheme between the Directorate General of Training (DGT), Ministry of Skill Development and Entrepreneurship (MSDE), the Governments of Gujarat and Andhra Pradesh, and ArcelorMittal Nippon Steel India (AM/NS India) for upgrading Government ITIs.
• The partnership covers a cluster of five Government ITIs in Surat, Gujarat, and a cluster of four Government ITIs in Visakhapatnam, Andhra Pradesh.
• Special Purpose Vehicles (SPVs) will manage the upgradation and operations of the ITI clusters, with AM/NS India holding a 51% stake and the Government of India and each State Government holding 24.5% equity each.
• The two clusters involve an approved investment of approximately ₹440 crore — ₹240 crore for the Surat cluster and ₹200 crore for the Visakhapatnam cluster — one of the largest industry commitments under PM-SETU, out of a total approved ₹3,446 crore across the first 14 Strategic Investment Plans (SIPs).
• PM-SETU is a flagship Government of India scheme with a total outlay of ₹60,000 crore, envisaging upgradation of 1,000 Government ITIs and strengthening of five National Skill Training Institutes (NSTIs).
• AM/NS India will implement the projects with its academic and technical partner, New Age Makers' Institute of Technology (NAMTECH), which will support curriculum enhancement, training delivery reforms, faculty development and academic innovation.