Asian Development Bank approves $846 mln loan to India for skill-building and employment

The Asian Development Bank (ADB) on Friday approved an $846 million loan to India in order to help build a future-ready workforce for the country's manufacturing and emerging technology sectors.

The funds will be plugged into the Supporting Pradhan Mantri Skilling and Employability Transformation through Upgraded Industrial Training Institutes (ITIs) Program. It aims to support the government’s nationwide program through modernizing 650 ITIs across 12 states under a hub-and-spoke cluster model and upgrading five National Skill Training Institutes (NSTIs) into centers of excellence for advanced trainer development.

These initiatives aim to boost private sector participation, strengthen government and deliver industry-aligned training, including green skills. This will eventually improve employability for at least 1.3 million Indian youth.


“India’s manufacturing sector requires a highly skilled workforce to remain competitive globally and foster inclusive growth,” ADB Country Director for India Mio Oka said. “This program builds on lessons from ADB’s past and ongoing support for skill development in India and other countries. It will modernize ITIs into industry-driven centers of excellence, broaden opportunities for women and disadvantaged groups, and strengthen India’s position as a hub for advanced skills.”