The Government of India, Government of Uttarakhand and the World Bank today signed a $74 million Uttarakhand Workforce Development Project to improve the quality of training at select Industrial Training Institutes (ITIs) and help the state produce higher-quality workers with relevant market skills.
Over 24,000 trainees are expected to benefit at these ITI’s during the project period and about 40,000 untrained youth, including unemployed and unskilled workers will participate in industry-relevant short-term training programs which are compliant with the National Skills Qualifications Framework (NSQF).
“India’s continued economic growth demands more skilled workers across many sectors, and the demand for skilled labor by the industrial and service sectors has been rapidly growing in Uttarakhand,” said Jorge Coarasa, Acting Country Director, World Bank. “The Government of Uttarakhand is keen to develop a coherent and accessible skills development system in the state. This project will support them deliver quality training programs with a focus on imparting market-relevant skills needed by the industry.”
To catch up with the growing industry demands the state aims to increase the pool of skilled workers by 650,000 over the next five years.
The $74 million loan, from the International Bank for Reconstruction and Development (IBRD), has a 5-year grace period, and a maturity of 17 years.
Original source: World Bank
Published on 18 September 2018