Bengaluru: Karnataka on Friday signed a Memorandum of Understanding (MoU) with a consortium led by Tata Technologies Ltd to upgrade 150 state-run Industrial Training Institutes (ITIs) into Vocational Technological Centres on the lines of Maharashtra.
Apart from Tata company, about 20 others companies will also be pooling in Rs 4,080 crore from Corporate Social Responsibility (CSR) funds. The remaining Rs 657 crore will be provided by the state government. These 150 ITIs will be upgraded at a cost of Rs 30 crore each.
The MoU was signed in the presence of Chief Minister BS Yeddyurappa at his home office Krishna here.
Speaking on the occasion, Yeddyurappa said that the new initiative of Government-Industry partnership would enable youths to get excellent skill training based on industry demand while industry will benefit from a skilled workforce.
"Modernisation of ITIs at Peenya, Hosur Toad, Bellary, Mysuru, Dastikoppa and Shikaripura will be taken up in the first phase," he said.
Deputy Chief Minister CN Ashwath Narayana said that more than one lakh youths would benefit annually from this agreement.