ADB approves USD 109.97 Million loan to Gujarat for skill development programmes
ANI
13 Jun 2025, 14:54 GMT+10
New Delhi [India], June 13 (ANI): The Asian Development Bank (ADB) on Friday approved a loan of USD 109.97 million in order to support the Government of Gujarat's vision of becoming a global industrial hub through a stronger, more future-ready workforce.The loan will be utilised for the Gujarat Skills Development Program. The program is led by the state's Labour, Skill Development and Employment Department in collaboration with Kaushalya: The Skill University (KSU), with an aim to equip the state's workforce with industry-aligned, advanced skills that boost job readiness in high-growth sectors.This program will be focusing on seven high-priority industries such as logistics, automotive, manufacturing, information technology, renewable energy, healthcare, and agri-tech.Additionally, the Gujarat Skills Development Program is aligned with the National Education Policy 2020 and Gujarat's Skills Development Plan (2025-2030).'Realising Gujarat's aspiration to emerge as a globally competitive and innovative industrial hub hinges on cultivating a workforce proficient in advanced and emerging technologies,' said ADB Principal Social Sector Specialist Uzma Hoque.'This program is a transformative effort to modernise the TVET ecosystem by integrating technologies such as artificial intelligence, aligning training with evolving industry needs, and fostering inclusive, employment-focused, future-ready talent,' Uzma added.This program will support increased participation of women and socioeconomically disadvantaged groups in engineering and frontier technology trades. By 2030, it aims to graduate at least 60,000 students with advanced skills, increase female enrollment in engineering disciplines, and provide 175,000 disadvantaged individuals with training that enhances their employment prospects. (ANI)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
27 minutes ago
- Time of India
India among key investment hubs for land and development sites; retains spot among top 10 global markets: Report
Representative AI-generated image India has established itself as a prime destination for international capital investment in land and development sites, as revealed in a recent Colliers report. During the 12-month period ending Q1 2025, India secured $735 million in cross-border capital investments, positioning it at seventh place amongst global markets in this category, according to the report quoted by ANI. The investment comprised $332 million from international sources, with regional capital flows making up the balance. Although India's portion of total cross-border investments reached 1.5 per cent, showing a slight decline, it surpassed its five-year average of 1.2 per cent. India maintains its position as a significant investment destination, particularly within the Asia-Pacific (APAC) context. The APAC region's dominance is evident, with seven countries from the region featuring in the top ten list for cross-border land and development site investments, demonstrating the region's appeal to international investors. The analysis revealed that APAC captured 80 per cent of all cross-border activity, with China's contribution of $38.1 billion representing 79.7 per cent of the global total. While China leads the market, countries including Singapore, Malaysia, and Australia have shown increased investment activity. India's continued presence in the top ten demonstrates sustained investor faith in its future growth prospects and opportunities within its land and development sectors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending Local Enterprise Accounting Software [Click Here] Accounting ERP Click Here Undo However, the report indicated that investment volumes across all regions remained low in Q1 2025, staying at the bottom of the five-year range, despite increased activity in the latter half of 2024. North America experienced a minor reduction in investment activity, losing ground as a global safe haven, while EMEA (Europe, Middle East, and Africa) volumes remained constant. Nevertheless, Europe is gaining increased attention, with various European investors showing heightened interest in APAC markets, including India. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India Gazette
43 minutes ago
- India Gazette
We are waiting for an elected government in Bangladesh, says BGMEA President
Dhaka [Bangladesh], June 14 (ANI): Bangladesh's business community and the investors are waiting for an elected government to take their decisions, said Mahmud Hasan Khan Babu, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), late on Friday. 'We, the business people, want a permanent government. During an interim government, the investors do not want to invest,' Babu told ANI in an interview. 'By definition, this government is interim. Everybody knows, for the time being, they have come after the situation of the July uprising and revolution (last year). This government has taken some good initiatives in terms of banking reforms, control of looting and mismanagement of the Banking sector. But if you say, in terms of investment, the investors or the businesses are waiting for the elected government,' he said. 'Normally, we business people would like to have a permanent government, and then we would like to see who is coming for the policy and activities; Investment will depend on that situation. Normally, during an interim government, investors do not want to invest. They keep them in a position of wait and see,' the BGMEA President said. 'I hope shortly, there will be an election. That election has to be a credible, fair election so the people can give their verdict. After a new government, the investment situation will improve,' he said. 'Business people and the investors are looking for an election, and sooner the better,' he added. 'Shutdowns of factories are happening. BGMEA has seven thousand plus members. Now, only 3,000 factories are exporting goods means they are in operation. So, 4,000 factories have already been eliminated for different reasons. Due to their inefficiency, natural calamities, man-made calamities like political situations or infrastructure reasons like problems in the ports or electricity or energy, different reasons. In this moment, we are facing challenges for the issues of energy that gas and electricity and inflation. We are waiting for an elected government,' he said. 'Relations between Indian and Bangladeshi people are very good and very cordial. Especially in West Bengal and Bangladesh, we have some common cultural things. But the problem is that when the government changes on both sides, the situation also changes. Sometimes very much cordial, sometimes one-sided love and sometimes it is a resentful situation. It depends on the government in India or the government in Bangladesh,' Babu said. 'We would like to see friendly relations with dignity. We should respect each other. If the relations between the governments level are cordial, it would be the best because both countries will benefit. Business between India and Bangladesh is huge. It is not for political relations but for necessity. So, if the relations between India and Bangladesh are cordial, that would be good,' he said. Muhammad Yunus, the Chief Adviser of Bangladesh's interim government, has hinted at holding national elections in early February next year. Many are considering the London meeting between Muhammad Yunus and Tarique Rahman as a game changer for Bangladeshi politics. Right now, former Prime Minister Khaleda Zia's BNP is the largest Political Party in Bangladesh, as Sheikh Hasina's Awami League is banned from running. Tarique Rahman, the son of Khaleda Zia, seems set to return soon to Bangladesh after 16 years in exile in London. Former Prime Minister Sheikh Hasina was ousted in a student-led uprising in August last year. She is now living in India in self-imposed exile. After Sheikh Hasina's fall, an interim government was formed under the leadership of Muhammad Yunus, a Nobel Laureate. (ANI)
India Gazette
43 minutes ago
- India Gazette
India's biofuel sector transitioning from promise to partial implementation: Report
New Delhi [India], June 14 (ANI): India's biofuel sector is slowly moving from a stage of promise to partial implementation, supported by strong government policies, rising need for decarbonization, and the push for rural value creation, according to a report by YES Securities. The report highlighted that while government support through initiatives like SAMARTH (for biomass), E20 (for ethanol), and SATAT (for compressed biogas or CBG) remains strong, the actual progress in building the required infrastructure is uneven across different segments. It said 'India's biofuel sector is transitioning from promise to partial implementation, driven by policy tailwinds'. Among all segments, ethanol blending has shown significant progress, with around 18 per cent blending achieved. This has also resulted in a visible return on capital employed (RoCE) for producers. Solid biofuels are also gaining ground in industries as substitutes for coal and furnace oil. This shift is being driven by better economics and pressure to meet environmental, social, and governance (ESG) goals. However, the report noted that the CBG segment still faces several challenges. These include problems with feedstock logistics, underutilised production capacity, and the lack of infrastructure needed to monetise by-products, which are crucial for making CBG plants financially viable. The report added that investors should now focus on segments that are showing operational progress, have clear offtake guarantees linked to policy, and show a realistic path to scale. In terms of policy and mechanism support, the report explained the role of co-firing, which involves blending solid biofuels with coal in power plants. According to a Ministry of Power (MoP) order issued in 2021, all thermal power plants with a capacity of more than 200 MW are required to blend 5 per cent biomass starting from FY22. In regions prone to high stubble burning like Punjab, Haryana, and Uttar Pradesh, the limit has been increased to 7 per cent. This effort is being driven under the SAMARTH Mission, a government initiative to promote sustainable fuel use. India's coal-fired power capacity stands at about 210 GW. Even a 5 per cent blend would require around 10.5 GW of power to be generated from biofuels. This would translate to the use of 15-20 million metric tonnes (mmt) of biomass every year, creating a potential market of over Rs 500 billion. Public sector power utility NTPC has emerged as a leader in the co-firing space. As of early calendar year 2025, it has already co-fired more than 2.5 lakh tonnes of biomass across its units in Dadri, Jhajjar, and others. Some of these units have achieved 7-10 per cent biomass blending. Despite the policy push, the report pointed out several bottlenecks. These include variation in the calorific value and combustion characteristics of biomass, difficulties in logistics and storage due to the perishable nature of biomass, and the need for plant-specific burner modifications to enable efficient co-firing. The report concluded that while the biofuel sector holds significant promise, actual implementation will depend on overcoming these practical challenges and ensuring consistent progress across all segments. (ANI)
