Tata Education Development Trust will invest ₹300 crore in the PPP, not-for-profit facility
Mahendra Nath Pandey, Minister for Skill Development and Entrepreneurship (MSDE), on Wednesday laid the foundation stone for Indian Institute of Skills (IIS) at Mumbai.
The objective of the institute is to provide skill training in highly-specialised areas to students who want to pursue technical education after completing Class X and XII. The Ministry feels that the IIS will be a tertiary care institute in the skills ecosystem and offer best of required courses in emerging and high demand areas such as deep technology, aerospace, among others.
“The concept of IIS was envisaged by Prime Minister Narendra Modi when he had visited the Vocational Education and Training Centre in Singapore. It is under his able guidance and direction that this institute will be on the lines of the IITs and the IIMs that we have in our country,” said Pandey.
It will aspire to earn a similar reputation, stature and world-class infrastructure to cater to the demands of the international market and modern requirements. Just like how the country is known for ‘Make in India’, soon we will be known for ‘Skilled in India’ as well, he added.
Tata Education Development Trust (TEDT) was selected as the private partner for setting up IIS at NSTI campus in Mumbai through a competitive bidding process.
The Tata Group is investing about ₹300 crore in the 4.5-acre campus.
The aim of the institute is to ensure that 5,000 trainees will be passing out every year with 70 per cent placement opportunities.
The Union Cabinet had given its nod to set up Indian Institute of Skills (IISs) in three cities — Mumbai, Ahmedabad and Kanpur — to give wings to the Skill India Mission.
These institutes will be constructed and operated on a PPP (Public-Private Partnership) model and on a not-for-profit basis.