Asian Development Bank Approves $846 Million Loan to Modernise India’s Skill Institutes

The Asian Development Bank has sanctioned a $846 million loan to support a major upgrade of India’s skill training ecosystem and improve youth employability. 

Asian Development Bank’s Funding Boost for India’s Skilling Overhaul 

The Asian Development Bank (ADB) will provide $846 million to advance the national programme focused on modernising Industrial Training Institutes under the Supporting Pradhan Mantri Skilling and Employability Transformation initiative.  

The investment will help revamp 650 ITIs across 12 states under a hub-and-spoke cluster model and upgrade 5 National Skill Training Institutes into centres of excellence for advanced trainer development.  

The initiative aims to expand industry-aligned training, strengthen private sector participation, integrate green skills and enhance employability for at least 1.3 million young Indians. 

Asian Development Bank’s Perspective on India’s Skill Demand  

As per news reports, ADB Country Director for India Mio Oka said, “India’s manufacturing sector requires a highly skilled workforce to remain competitive globally and foster inclusive growth.”  

She added, “This program builds on lessons from ADB’s past and ongoing support for skill development in India and other countries. It will modernize ITIs into industry-driven centers of excellence, broaden opportunities for women and disadvantaged groups, and strengthen India’s position as a hub for advanced skills.”  

The Asian Development Bank intends for the funding to create wider access to high-quality, market-relevant training. 

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Conclusion 

The Asian Development Bank’s $846 million support marks a significant step in strengthening India’s future workforce, reinforcing the country’s goal of becoming a global centre for advanced skills and industry-ready talent. 

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