Asian Development Bank approves $109.97 mn loan to boost employability in Gujarat
Multilateral funding agency ADB on Friday said it has approved a USD 109.97 million (about Rs 927 crore) results-based loan to support Gujarat in advancing its vision of becoming a global industrial hub through a stronger, future-ready workforce.
The
Gujarat skills development programme
, led by the state's Labour, Skill Development and Employment Department in collaboration with
Kaushalya: The Skill University
(
KSU
), aims to equip the state's workforce with industry-aligned, advanced skills that boost job readiness in high-growth sectors, ADB said in a statement.
The programme will strengthen the institutional and managerial capacity of the KSU network and broaden access to high-quality, industry-relevant training courses that integrate frontier technologies, it said.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
혈압, 혈당, 고지혈로 고민이 많으신 분들만 읽어주세요.
메디셜
더 읽기
Undo
Through this process, the programme aims to transform the governance and performance of the technical and vocational education and training (TVET) system in Gujarat, establishing a scalable model that can be replicated across other states in India, it said.
Focusing on seven high-priority industries - logistics, automotive, manufacturing, information technology, renewable energy, healthcare, and agri-tech - the programme will implement a range of interventions, it said.
Live Events
These include upgrading 11 mega industrial training institutes (ITIs), establishing centres of excellence, and partnering with affiliated private training providers through a hub-and-spoke model anchored by KSU, it said.
Courses will be designed in close collaboration with the industry to ensure alignment with market demands and job trends, it added.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
26 minutes ago
- Time of India
Nvidia CEO Jensen Huang says Anthropic CEO is very wrong, and on almost everything he said about AI: Don't do it in a dark room and tell me ...
Nvidia CEO Jensen Huang strongly refuted Anthropic CEO Dario Amodei's predictions regarding AI-driven job automation during a press briefing. Huang dismissed Amodei's claim that AI could eliminate 50% of entry-level white-collar jobs within five years, advocating for transparent AI development. While acknowledging job transformation, Huang emphasized AI's potential to create new opportunities and boost productivity. Nvidia CEO Jensen Huang expressed sharp disagreement with Anthropic CEO Dario Amodei 's predictions about AI-driven job automation during a press briefing at VivaTech in Paris. Huang specifically challenged Amodei's recent claim that AI could eliminate up to 50% of entry-level white-collar jobs within five years, dismissing the notion as overly alarmist. 'I pretty much disagree with almost everything [Amodei] says,' Huang stated, critiquing three key points he attributed to Amodei: that AI is so dangerous only a select few should develop it, that it's too costly for widespread development, and that its power will lead to massive job losses. 'If you want things to be done safely and responsibly, you do it in the open … Don't do it in a dark room and tell me it's safe,' Huang added, advocating for transparent and collaborative AI development. What Anthropic CEO said on AI Amodei, in a recent Axios interview, had warned that AI could disrupt half of entry-level office roles and urged policymakers to prepare for economic impacts. Huang countered that while AI will transform jobs, it will also create new opportunities, citing increased productivity as a driver for hiring. 'Some jobs will be obsolete, but many jobs are going to be created,' he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 선납금·위약금 없이 벤츠를 원하는 기간만큼 이용하세요. 계약 만료시 반납, 인수 모두 가능합니다. 써치오토모빌 더 알아보기 Undo Anthropic on Nvidia CEO Jensen Huang's statement In response, an Anthropic spokesperson clarified to Fortune that Amodei has never claimed only Anthropic should build AI. 'Dario has advocated for a national transparency standard for AI developers … so the public and policymakers are aware of the models' capabilities and risks,' the statement read. The spokesperson reaffirmed Amodei's concerns about AI's economic impact and his commitment to addressing them. Anthropic, founded in 2021 by Amodei and other ex-OpenAI researchers, prioritizes safety in AI development, a focus rooted in the founders' reported concerns over OpenAI's direction. The public clash between Huang and Amodei highlights ongoing debates in the AI industry about its societal and economic implications. AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
30 minutes ago
- Time of India
India 'satisfied' with $400 million currency swap that boosted Maldives' FX reserves
India expressed satisfaction over the USD 400 million currency swap with Maldives, which boosted the island nation's foreign exchange reserves. Fitch affirmed Maldives' sovereign rating, acknowledging the increased Forex reserves driven by the currency swap between the Reserve Bank of India and the Maldives Monetary Authority. However, persistent fiscal vulnerabilities complicate debt refinancing. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India on Saturday noted with satisfaction that the USD 400 million currency swap between Male and New Delhi helped boost Maldives ' foreign exchange (FX) comments by the Indian High Commission in Maldives came after global credit rating agency Fitch on Thursday affirmed the archaepelagic country's sovereign rating at 'CC', among other reasons due to increased Forex Indian High Commission in Maldives, in a post on X, said it noted with satisfaction that the FX reserves increase in the island nation was driven by the USD 400 million drawdown under a currency swap between the Reserve Bank of India (RBI) and the Maldives Monetary Authority (MMA) in October 2024."The currency swap alleviated imminent external liquidity strains as noted by Fitch credit rating for Maldives, it rating agency Fitch noted that the country's FX reserves have increased due to solid tourism-related receipts, the newly-implemented Foreign Currency Act, which mandates tourism-related businesses to exchange either 20 per cent of monthly foreign-currency receipts, and the support from the RBI, alleviating imminent external liquidity strains, Sun Online news portal rating agency said that while the tourism sector continues to expand and gross FX reserves have increased following support from the RBI, persistent external and fiscal vulnerabilities will complicate refinancing of Maldives' impending large external debt-servicing obligations in the year agency projects the Maldives' fiscal deficit will widen to 14.5 per cent of GDP in 2025, up from 14 per cent in 2024 on high recurrent spending, mainly due to expectations of rising public wages and continued delays in the planned fiscal reforms of subsidies and healthcare spending largely due to political considerations the report said.
Time of India
31 minutes ago
- Time of India
ONGC chief calls for making arbitration proceedings timely, Arjun Ram Meghwal pitches for institutional arbitration
Union Law Minister Arjun Ram Meghwal on Saturday pitched for institutional arbitration , saying it was part of Indian culture after the ONGC chairman urged making arbitration proceedings timely and not "timeless". The government has been pushing for institutional arbitration instead of ad hoc arbitration asserting it is efficient and more result oriented. The industry on the other hand feels arbitration in India is slow, inefficient and plagued with red tape. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Co-Founder of Google Brain, Andrew Ng, Recommends: "These 5 Books Will Turn Your Life Around" Blinkist: Andrew Ng's Reading List Undo Singapore, London and Dubai have emerged as hubs of international arbitration to settle high stakes, high value commercial disputes . Addressing a conference on institutional arbitration here, the minister also said that organisations should be ready to be flexible and rigid, depending on the need of the hour, to ensure that its interests remain protected and it contributes towards nation building. Live Events Meghwal felt that officers should be willing to take risk and not follow the beaten track to ensure financial interests of their organisation. Meghwal lamented that while arbitration was part of Indian culture, the concept got "disturbed" somewhere and other countries became hub of international arbitration. He hoped that India will soon emerge as the new hub of international arbitration. Earlier, speaking on the occasion, ONGC Chairman Arun Kumar Singh said time is money, and hence there was a need to make the procedure of arbitration timely and not "timeless". He said settlement of commercial disputes in a time-bound manner was quintessential for the business ecosystem. He also felt that there was a need to make arbitration "more corporate and less legal". Singh said disputes largely arise out of three reasons: executives being excessively conservative who pass the buck to save their skin; excessive optimism of vendors who take contracts at low bids and subsequently fail to complete the job and create disputes to wriggle out of the situation; and rigidity in contracts, which make completing tasks difficult. Law Secretary Anju Rathi Rana said the government has been consistently trying to make arbitration and mediation processes faster and easier. She recalled a recent directive from the Department of Legal Affairs, which pushes for reducing judicial interventions and using institutional and not ad hoc arbitration. The chairman of India International Arbitration Centre, Justice (retd) Hemant Gupta, said the mindset has to change for parties to go for institutional arbitration, rather than an ad hoc system to settle commercial disputes. He said people will have to choose institutional arbitration to understand its benefits over court-appointed arbitration.
