You are here: Home » Economy & Policy » News
Business Standard

UP govt in talks for Rs 13-bn ADB loan to upgrade skill development infra

UP will upgrade 275 industrial training institutes with the ADB funding by equipping them with modern equipment, machines and technologies

Virendra Singh Rawat  |  Lucknow 

Narendra Modi, Yogi Adityanath
Prime Minister Narendra Modi being welcomed by Uttar Pradesh Chief Minister Yogi Adityanath at a ground breaking ceremony to launch various projects worth Rs 600 billion, at Indira Gandhi Pratishthan in Lucknow. Photo: PTI

With industrial and infrastructure projects worth almost Rs 1.10 trillion in the pipeline, the government is negotiating with multilateral finance agency (ADB) for a soft loan of Rs 13 billion to upgrade the state's infrastructure.

On July 29, Prime Minster had laid the foundation of projects worth over Rs 600 billion across different sectors in a high ticket event in Lucknow. Additional projects worth Rs 500 billion are in the pipeline and would soon witness a similar 'ground breaking' ceremony, Chief Minister Adityanath had announced.

The state government wants to prepare a large pool of trained manpower for different sectors, including manufacturing, tourism, food processing, IT, medicine, etc, before these under development and proposed projects attain production stage in 2-3 years. These projects, alone, are expected to generate about 200,000 fresh jobs.

ALSO READ: Uttar Pradesh on track to become trillion dollar economy: PM Modi

These projects are part of the Rs 4.68 trillion worth of investment proposals received by the state government at the on 21-22 February, which was also inaugurated by Modi, amid a galaxy of top industrialists and industry captains.

Talking to Business Standard, UP minister of youth welfare, vocational education and skill development, Chetan Chauhan, said the state government had already held two meetings with top officials. "The officials have also met with the CM, who is keenly following up on this matter, and we are confident that our proposal would pass muster," said Chauhan. The department has already submitted a detailed proposal to the state government and now it would be sent to the Centre for vetting and approval before advances the loan.

"We are working on the list of all the companies whose projects have started in the state and we plan to train manpower according to their requirements through the state ITIs (industrial training institutes) and the mission," said Chauhan.


ALSO READ: UP govt to rope in Amazon, Wipro, GE at 'One District, One Product' summit

According to the roadmap, the government would upgrade about 275 ITIs with the ADB funding by equipping them with modern equipment, machines and technologies. Besides, these ITIs, which work in concert with the mission, would be manned with qualified instructors in contemporary trades and disciplines, including e-commerce, food processing, and IT, etc.

In his Lucknow address, Modi had commended the Adityanath government for starting work on projects worth Rs 600 billion within 5 months of holding the summit. Of these projects, whose foundation was laid by Modi, 26 per cent pertain to heavy industries, followed by food processing (17 per cent), IT (11 per cent), housing (10 per cent), MSME (six per cent), dairy (five per cent), tourism (five per cent), and animal husbandry (four per cent), etc.

The event was also addressed by industry captains, including Kumar Mangalam Birla, Gautam Adani, Subhash Chandra, and Sanjeev Puri, among others. The companies that witnessed the foundation laying for their projects included Reliance Jio Infocom, BSNL, Infosys, TCS, Adani Power, and Paytm, among others.

First Published: Mon, August 20 2018. 16:48 IST
RECOMMENDED FOR YOU