PM-SETU Achieves Another Milestone with Signing of Shareholders' Agreements for Surat and Visakhapatnam Clusters; ₹440 Crore Approved for Upgradation of Nine Government ITIs

Ministry of Skill Development and Entrepreneurship PM-SETU Achieves Another Milestone with Signing of Shareholders' Agreements for Surat and Visakhapatnam Clusters; ₹440 Crore Approved for Upgradation of Nine Government ITIs AM/NS India joins Centre and State Governments to drive industry-led transformation of ITIs under PM-SETU

Posted On: 12 OCT 2026 1:54PM by PIB Delhi In a major boost to India's ITIs ecosystem, Shareholders' Agreements (SHAs) have been signed under the Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs (PM-SETU) scheme for the upgradation of Government Industrial Training Institutes (ITIs) in Gujarat and Andhra Pradesh through a partnership with ArcelorMittal Nippon Steel India (AM/NS India).

The agreements have been signed between the Directorate General of Training (DGT), Ministry of Skill Development and Entrepreneurship (MSDE), Government of India, the Governments of Gujarat and Andhra Pradesh, and AM/NS India, paving the way for the implementation of approved Strategic Investment Plans (SIPs) in the two states for the said two clusters.

The partnership covers a cluster of five Government ITIs in Surat, Gujarat, and a cluster of four Government ITIs in Visakhapatnam, Andhra Pradesh, marking another important milestone in the implementation of PM-SETU, which seeks to transform India's ITI ecosystem through deep industry participation and world-class training infrastructure.

The signing of the SHAs formally establishes the framework through which the industry partner, the Government of India and the respective State Governments will work together to implement the approved projects. Dedicated Special Purpose Vehicles (SPVs) will now be established to manage the upgradation and operations of the ITI clusters, with AM/NS India holding a 51% stake, while the Government of India and the respective State Governments will each hold 24.5% equity participation.Speaking on the event, Smt. Debashree Mukherjee, Secretary, Ministry of Skill Development and Entrepreneurship, said: “The signing of these agreements is not the finish line, but the starting point of a transformative journey for our ITIs. As India secured a place among the Top 10 in world's leading performers at WorldSkills competition held in Shanghai recently, we must now aspire for PM-SETU institutions and Aspirational Institutes to become centres of excellence that nurture future WorldSkills champions. Our goal is not only to upgrade infrastructure, but to elevate aspirations, quality and outcomes across the skilling ecosystem”.

Industry-Academia Collaboration for Future-Ready Skills AM/NS India will implement the project in collaboration with New Age Makers' Institute of Technology (NAMTECH), its academic and technical partner. While AM/NS India will contribute its extensive manufacturing expertise and industry insights, NAMTECH will support curriculum enhancement, training delivery reforms, faculty development and academic innovation.

The planned interventions include:

Modernisation of training infrastructure, workshops and laboratories;

Introduction of new-age, industry-relevant trades and technologies;

Upgradation of existing curricula to align with emerging industry requirements;

Strengthening instructor training and capacity building;

Expansion of hands-on, practical learning opportunities for trainees.

These interventions are expected to significantly improve training quality, employability outcomes and industry readiness among ITI graduates.

Major Industry Commitment Under PM-SETU The Surat and Visakhapatnam clusters together account for an approved investment of approximately ₹440 crore, including ₹240 crore for the Surat cluster and ₹200 crore for the Visakhapatnam cluster.

Notably, the AM/NS India-led projects represent one of the largest industry commitments approved under PM-SETU so far from a total approved amount of ₹3,446 crore proposed investment across the first 14 Strategic Investment Plans (SIPs) under the scheme.

About PM-SETU PM-SETU is a flagship scheme of the Government of India with a total outlay of ₹60,000 crore, aimed at transforming the country's vocational education ecosystem through strong industry partnerships and institutional reforms. The scheme envisages the upgradation of 1,000 Government ITIs across the country and the strengthening of five National Skill Training Institutes (NSTIs).*** SH (Release ID: 2322170)Visitor Counter : 395

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