PM-SETU: AM/NS India signs Shareholders' Agreements for Surat and Visakhapatnam ITI clusters; Rs 440 crore approved
On 12 October 2026, SHAs were signed under PM-SETU with AM/NS India for five ITIs in Surat and four in Visakhapatnam; about Rs 440 crore approved for the nine ITIs.
Summary
Shareholders' Agreements under the Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs (PM-SETU) scheme were signed for Government ITI clusters in Gujarat and Andhra Pradesh with ArcelorMittal Nippon Steel India (AM/NS India). The partnership covers five Government ITIs in Surat and four in Visakhapatnam. Dedicated SPVs will manage the clusters, with AM/NS India holding 51% stake and the Centre and each State Government 24.5% each. The two clusters account for about Rs 440 crore (Rs 240 crore Surat; Rs 200 crore Visakhapatnam). PM-SETU has a total outlay of Rs 60,000 crore to upgrade 1,000 Government ITIs and strengthen five NSTIs.
Key facts
- Scheme
- PM-SETU
- Industry partner
- AM/NS India
- Clusters
- 5 ITIs Surat (GJ); 4 ITIs Visakhapatnam (AP)
- Approved investment
- About Rs 440 crore (Rs 240 cr Surat + Rs 200 cr Vizag)
- SPV equity
- AM/NS 51%; Centre 24.5%; State 24.5%
- PM-SETU outlay
- Rs 60,000 crore; 1,000 Govt ITIs + 5 NSTIs
Practice MCQs 4 questions
In October 2026, Shareholders' Agreements under PM-SETU with AM/NS India covered ITI clusters in which two States?
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Correct answer: A — Gujarat and Andhra Pradesh
Under the PM-SETU SPVs for the AM/NS India ITI clusters, what equity stake does the industry partner hold?
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Correct answer: B — 51%
What is the approximate approved investment for the Surat and Visakhapatnam PM-SETU clusters together?
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Correct answer: C — Rs 440 crore
PM-SETU envisages the upgradation of how many Government ITIs across India?
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Correct answer: D — 1,000