Union Minister for Skill Development and Entrepreneurship (MSDE), Dr. Mahendra Nath Pandey laid the foundation stone for Indian Institute of Skills in Mumbai.

Union Minister for Skill Development and Entrepreneurship (MSDE), Dr. Mahendra Nath Pandey laid the foundation stone for Indian Institute of Skills in Mumbai. The Union Cabinet has approved setting up of Indian Institute of Skills (IIS) in Mumbai, Ahmedabad, and Kanpur. These institutes would be constructed and operated on a Public-Private Partnership (PPP) model and in not-for-profit basis.

At the foundation stone laying ceremony, Dr. Mahendra Nath Pandey expressed that the concept of the Skills Institute was envisaged by the Prime Minister Narendra Modi on his visit to the Vocational Education and Training Center in Singapore. The institute will aspire to achieve a similar world-renown and will cater to the demands of the international market and modern requirements.

IIS will be set up on the lines of Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs) with first-hand learning facilities from internationally renowned existing skill institutions.

"Just like how we are now being known for 'Make in India', soon we will be known for 'Skilled in India' as well. The driving force behind setting up a state-of-the-art training institution like the Indian Institute of Skills (IISs) is to help candidates equip themselves with marketable skills. There is a need to build a skilled workforce equipped with the required skillsets to meet the demand of Industry 4.0, powered by technology like automation, Artificial Intelligence and machine learning, cyber technology, energy conservation, etc. The skill scenario is changing the world over, and these institutes will keep us competitive. The setting up of the institute in Mumbai will also cater to aspirations of the youth of Maharashtra eager to become a part of the new-age industrial economy," said Dr. Mahendra Nath Pandey.

The Indian Institute of Skills will provide skill training in highly specialized areas to students who want to pursue technical education after completing Class X and Class XII, making them employable and industry ready for the global market.

Tata Education Development Trust (TEDT) is the private partner for setting up IIS at NSTI campus in Mumbai. The Government has provided land to TEDT for a period of 25 years for the institute, with comprehensive project reviews every 5 years mapping performance outcome.

The Tata Group is investing about Rs. 300 crore in the 4.5 acres campus that aims to bring best-in-class infrastructure facilities to students. The aim of the Institute is to ensure that 5000 trainees will be passing out every year with 70% placement opportunities.

Natarajan Chandrasekaran, Chairman, Tata Sons, said, "Jobs are critical for economic growth and with the current demographic dividend, skill development is the appropriate solution to get the youth productively employed."

He further said that it was necessary to ensure that the latest market-relevant skills are imparted to make the youth ready for jobs of the future.

Envisaged as world-class skill training center imbibing best practices from internationally renowned existing skill institutions, the institute will facilitate learnings and trainings through strong industry connect in both public and private sectors. The courses in this institute will include modern training methodologies using digital and augmented learning platforms.

It is also an important step towards promoting apprenticeship-embedded courses and offering higher order qualifications leading up to certificates, diplomas and even degrees in conjunction with universities.