Over ₹5K cr investment already received against set target of ₹3K cr: Minister

Kapil Dev Aggarwal, minister of state for vocational education and skill development (independent charge) said an investment of ₹5,189.87 crore has already been received through 62 investors

Against the target of investment of ₹3,000 crore fixed by the state government under various schemes of the vocational education and skill development department, an investment of ₹5,189.87 crore has already been received through 62 investors and an MoU worth ₹4267.83 crore has been signed with 33 investors, said Kapil Dev Aggarwal, minister of state for vocational education and skill development (independent charge) while addressing a seminar here on Wednesday.

The minister said that there were immense possibilities of investment in the field of vocational and skill training. (Pic for representation)

The minister said that there were immense possibilities of investment in the field of vocational and skill training. He said 150 ITIs were going to be upgraded with the help of Tata.

While inviting the investors to come up with innovative ideas, he said that the state government would leave no stone unturned to make their ideas fruitful.

Principal secretary, technical education Subhash Chandra Sharma said that the Uttar Pradesh government has set a target of achieving $1 trillion economy in the next five years (2022-27). To fulfil this goal, the government has set up a special unit named Invest UP at the state level and has appointed Deloitte India as a consultancy agency to prepare an action plan related to the achievement of the goal and to execute the actions accordingly.

Giving information about the options available for investment in departmental schemes, the principal secretary said that the department is running its newly created ITI on PPP model through which the basic objective is to increase the quality of training along with private participation.

He also informed that all the training programmes being conducted by the U.P. Skill Development Mission were being conducted with private participation only. He said that UP Skill Development Mission was going to start ‘Start-up Training Partner Scheme’ for start-ups and requested the present representatives of the industry to join this scheme.

The minister said that the investors had pointed out that rules of the departmental schemes needed to be made more flexible as per the demands of the industries so that various problems could be resolved quickly.

The minister said that he was grateful to all the present industrialists that have come here to invest in Uttar Pradesh.

Expressing his views, Harikesh Chaurasia, director, training and employment, U.P. said that cooperation of all was expected in training the youths. Try to invest in the schemes being run by the department, so that new future investors can be prepared, he said.