IL&FS wants to lead ITI upgrading

IL&FS wants to lead ITI upgrading
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First Published: Wed, Jul 11 2007. 01 59 AM IST
Updated: Wed, Jul 11 2007. 01 59 AM IST
New Delhi: Infrastructure Leasing and Financial Services, which organizes and funds development projects, is looking at partnering with the government for setting the curriculum and upgrading of 1,396 Industrial Training Institutes (ITI’s) through public-private partnership. For a fee.
Finance minister P Chidambaram, in his budget speech, had proposed upgrading ITIs through such partnerships. Around 300 ITIs were to be upgraded every year. Under the budget proposal, the Union government was to provide financial assistance in the form of an interest free loan of up to Rs2.5 crore to each ITI.
India’s manufacturing sector has been complaining for years of an acute skills shortage. Most of the country’s ITIs haven’t had a facelift or curriculum change in decades, making them a poor training ground.
According to a note from the ministry of finance to industry lobbying body the Associated Chambers of Commerce, the ministry has called for a meeting today to discuss Infrastructure Leasing and Financial Services’s proposal. The meeting is to be attended by the labour ministry officials, Infrastructure Leasing and Financial Services and various industry lobbying bodies.
Infrastructure Leasing and Financial Services has suggested that a National Programme Management Agency should be constituted to coordinate the activities of the ITIs and set the new curriculum, bringing it in line with the needs of the industry. It has suggested that it should be designated as that agency. The meeting will discuss organizational structure, functions and powers of the proposed agency.
Utpal Bhaskar contributed to this story.
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First Published: Wed, Jul 11 2007. 01 59 AM IST