PM-SETU Milestone: AMNS India and NAMTECH Win 1st Approval Under ₹60,000 Crore Scheme

Written by: Team Angel OneUpdated on: 1 Jun 2026, 8:57 pm IST
AMNS India and NAMTECH received the first PM-SETU strategic investment plan approval, marking a milestone in India's ITI transformation programme.
PM-SETU Milestone
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ArcelorMittal Nippon Steel India (AMNS India), together with its academic partner New Age Makers Institute of Technology (NAMTECH), has achieved a key milestone under the Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs (PM-SETU) programme.  

Their proposal for the Visakhapatnam ITI Cluster in Andhra Pradesh has become the first Strategic Investment Plan (SIP) to receive approval under the scheme. 

AP Becomes 1st State to Adopt Anchor Industry Partner Model 

The approval gives Andhra Pradesh another distinction, making it the first state to onboard an Anchor Industry Partner under the ₹60,000 crore PM-SETU initiative.  

The proposal was cleared during the third National Steering Committee meeting held at Kaushal Bhawan in New Delhi. 

The development represents the first major implementation milestone for PM-SETU, which seeks to transform government Industrial Training Institutes into industry-managed, outcome-oriented institutions through stronger collaboration between governments and private industry. 

Industry-Led Skilling Model Moves into Execution Phase 

The meeting was chaired by Debashree Mukherjee, Secretary, Ministry of Skill Development and Entrepreneurship, and attended by Dilip Kumar, Director General of the Directorate General of Training, along with National Steering Committee members, state government representatives, industry leaders and development partners. 

Participants included representatives from the Capacity Building Commission, National Council for Vocational Education and Training, Ministry of Commerce and Industry, Ministry of Heavy Industries and Ministry of Labour and Employment.  

Industry participation came from organisations such as Hindustan Aeronautics LimitedHero MotoCorpBajaj AutoITC Limited, AMNS India and NAMTECH, while the Asian Development Bank and the World Bank also took part in discussions. 

The committee reviewed implementation progress across participating states and discussed measures to strengthen governance frameworks, increase industry participation, improve the financial sustainability of Special Purpose Vehicles and accelerate project execution. 

Focus On Employability and Future Workforce Needs 

A central theme of the discussions was the creation of industry-led governance systems capable of delivering outcome-based training aligned with evolving workforce requirements.  

The PM-SETU programme aims to modernise ITI infrastructure, establish National Centres of Excellence in high-growth sectors, improve employability outcomes and deepen industry engagement across vocational education. 

Progress under the scheme continues to build momentum. State Steering Committees have already been constituted across 32 states and Union Territories, while 12 states and Union Territories have issued Requests for Proposals to select Anchor Industry Partners. Several of these selection processes are nearing completion. 

The approval granted to the Visakhapatnam ITI Cluster is expected to serve as a reference model for other states looking to strengthen industry participation in vocational training and skill development. 

AMNS India Expands Its Development Footprint 

AMNS India is a joint venture between ArcelorMittal and Nippon Steel and operates as one of India's leading integrated flat carbon steel producers.  

The company has a crude steel capacity of 9 million tonnes per annum and pellet capacity of 20 million tonnes, while also developing an 8.2 million tonnes per annum integrated steel plant in Andhra Pradesh. 

The company produces a diversified range of flat and value-added steel products and remains the only integrated steel producer in India to receive the Green Steel Certificate from the Ministry of Steel. 

Read More: PM Surya Ghar Yojana Crosses 26 Lakh Installations: How to Get Up To ₹78,000 Subsidy on Rooftop Solar! 

Conclusion 

The approval of the first PM-SETU Strategic Investment Plan marks an important step in India's vocational education transformation agenda, with AMNS India and NAMTECH helping establish a framework that could be replicated across the country in the years ahead.   

Want to read stock market updates in Hindi? Angel One News gives comprehensive share market news in Hindi 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Investments in the securities market are subject to market risks, read all the related documents carefully before investing. 

Published on: Jun 1, 2026, 3:26 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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