World Bank Approves $830 Million for India's ITI Revamp to Boost Skills, Jobs

• The World Bank approved an $830 million loan for India's Industrial Training Institutes (ITIs) under the PM-SETU Program.
• The program aims to align skills training with labour market needs, increase employment for young graduates, and produce over a million skilled workers annually.
• It will mobilize at least $680 million in private investment and update curricula, ensuring at least 25% female student enrollment.
• PM-SETU adopts a hub-and-spoke model with 200 advanced 'hub' ITIs and 800 'spoke' ITIs, emphasizing industry-managed operations.
• The initiative targets high-demand sectors like manufacturing, EVs, AI, green energy, textiles, and construction.

Why It Matters: World Bank's $830 million funding will transform India's ITIs, boosting skills and job creation for youth.