Indian Economy News

Tatas to invest over US$ 506.8 million (Rs. 4,200 crores) in Uttar Pradesh

  • IBEF
  • February 15, 2023

To enhance Uttar Pradesh's Industry 4.0 environment, Tata Group would invest more than US$ 506.8 million (Rs. 4,200 crores) in technical education and talent development.

In order to modernise 150 government-run industrial training institutes (ITI) and bring them into compliance with Industry 4.0 standards, the state government has enlisted Tata Technologies (TTL).

TTL and the state government each contributed roughly US$ 516.8 million (Rs. 4,283 crores) to the project's estimated cost of US$ 660.3 million (Rs. 5,473 crores).

A memorandum of Understanding (MoU) between TTL and the UP vocational education and skill development department will be signed soon. Mr. Yogi Adityanath, Chief Minister of Uttar Pradesh, gave his approval to the idea at the cabinet meeting. The MoU will be in existence for ten years, including nine months to implement the scheme, the state government claims.

The cooperation with TTL is centred on providing advice geared towards industry 4.0. Running 11 long-term and 23 short-term training modules and curricula would be required.

TTL would make investments in the ITIs' trainers' and students' capacity-building programmes. These updated ITIs are intended to yearly train a total of close to 35,000 candidates.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.