PM-SETU Scheme

PM-SETU Scheme Latest News

Recently, the Ministry of Skill Development and Entrepreneurship has invited industry leaders to participate in the PM-SETU scheme.

About PM-SETU Scheme

• Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs (PM-SETU) is a Centrally Sponsored Scheme launched to strengthen India’s vocational training ecosystem.
• It aims to modernise the ITI ecosystem by upgrading 1000 government ITIs across India into modern, industry-aligned training institutions
• Implementation: It is implemented as a hub-and-spoke model, with 200 hub ITIs linked to 800 spoke ITIs.
• Each hub will be equipped with advanced infrastructure, innovation and incubation centres, production units, training of trainer facilities, and placement services, while the spokes will extend access and outreach. 
• Financial outlay:  ₹60,000 crore, over a five- year period.
• Nodal Ministry: Ministry of Skill Development and Entrepreneurship

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Components of PM-SETU Scheme

• Introduce new, demand-driven courses and revamp existing ones in collaboration with industry;
• Special Purpose Vehicles: Set up Special Purpose Vehicles (SPVs) with credible Anchor Industry Partners to manage clusters and ensure outcome-based training;
• Create pathways for long-term diplomas, short-term courses, and executive programs;
• Strengthen 5 National Skill Training Institutes in – Bhubaneswar (Odisha), Chennai (Tamil Nadu), Hyderabad (Telangana), Kanpur (Uttar Pradesh), Ludhiana (Punjab), as Centres of Excellence with global partnerships.
• The initiative is backed by global co-financing from the World Bank and Asian Development Bank.

Source: News On Air