<p>The Karnataka Cabinet on Thursday is learnt to have approved a major partnership with Tata Technologies Ltd for the modernization of 150 state-run Industrial Training Institutes (ITI) at a cost of Rs 4,636 crore.</p>.<p>The Tatas will revamp the training with state-of-the-art infrastructure in order to bridge the skill gap, which the government hopes will provide better employment opportunities for ITI students.</p>.<p>According to sources, the Tatas will invest Rs 4,080 crore on 150 ITIs, which is about Rs 27.20 crore on each institute. The company will also take up maintenance of the 150 ITIs for a 5-year period free of cost.</p>.<p>Over the next two years, 300 people will be made trainers and the company will also create an online platform. The partnership will cost Rs 657 crore to the state government, which will be borrowed with the Tatas as the bank guarantor, sources said.</p>.<p>The project is anchored by the Skill Development, Entrepreneurship & Livelihood department headed by Deputy Chief Minister CN Ashwath Narayan.“The partnership will involve new technology, equipment and industrial linkage to create technology hubs to train people in line with the requirements of businesses within and outside the state,” according to a note prepared by the government.</p>.<p>The Karnataka Skill Development Corporation will spend Rs 105 crore from its own available funds to take up building repairs, additional electricity requirements and other works for the partnership.</p>.<p>Karnataka has 1,713 ITIs - 270 government, 196 aided and 1,247 private - where some 1.8 lakh students are enrolled. Of the 270 state-run ITIs, 150 have their own building. Auditing firm KPMG has been roped in as a knowledge partner for this partnership for a period of 24 months.</p>
<p>The Karnataka Cabinet on Thursday is learnt to have approved a major partnership with Tata Technologies Ltd for the modernization of 150 state-run Industrial Training Institutes (ITI) at a cost of Rs 4,636 crore.</p>.<p>The Tatas will revamp the training with state-of-the-art infrastructure in order to bridge the skill gap, which the government hopes will provide better employment opportunities for ITI students.</p>.<p>According to sources, the Tatas will invest Rs 4,080 crore on 150 ITIs, which is about Rs 27.20 crore on each institute. The company will also take up maintenance of the 150 ITIs for a 5-year period free of cost.</p>.<p>Over the next two years, 300 people will be made trainers and the company will also create an online platform. The partnership will cost Rs 657 crore to the state government, which will be borrowed with the Tatas as the bank guarantor, sources said.</p>.<p>The project is anchored by the Skill Development, Entrepreneurship & Livelihood department headed by Deputy Chief Minister CN Ashwath Narayan.“The partnership will involve new technology, equipment and industrial linkage to create technology hubs to train people in line with the requirements of businesses within and outside the state,” according to a note prepared by the government.</p>.<p>The Karnataka Skill Development Corporation will spend Rs 105 crore from its own available funds to take up building repairs, additional electricity requirements and other works for the partnership.</p>.<p>Karnataka has 1,713 ITIs - 270 government, 196 aided and 1,247 private - where some 1.8 lakh students are enrolled. Of the 270 state-run ITIs, 150 have their own building. Auditing firm KPMG has been roped in as a knowledge partner for this partnership for a period of 24 months.</p>
