ArcelorMittal Nippon Steel India secures 1st PM-SETU plan

ECONOMY – POLICY

31 MAY 2026

• The National Steering Committee has approved the strategic investment plan for the Visakhapatnam ITI Cluster in Andhra Pradesh submitted by ArcelorMittal Nippon Steel India under the ₹60,000 crore PM-SETU scheme, the government said.
• The approval marks the first-ever Strategic Investment Plan to be cleared under Pradhan Mantri Skilling and Employability Transformation through Upgraded Industrial Training Institutes (ITIs) (PM-SETU) and makes Andhra Pradesh the first State to operationalise an industry partnership under the scheme.
• The approval was accorded during the third National Steering Committee Meeting convened by the Ministry of Skill Development and Entrepreneurship.
• “With this approval, Andhra Pradesh becomes the first State under PM-SETU to onboard an Anchor Industry Partner (AIP), marking a major milestone in the operationalisation of the industry-led Hub-and-Spoke model envisioned under the scheme,” according to an official statement.
• PM-SETU, a flagship initiative of the Government of India with an outlay of ₹60,000 crore, launched in ctober 2025, aims to transform 1,000 Government ITIs via an industry-led Hub-and-Spoke model, with 200 hub ITIs linked to 800 spoke ITIs.
• Each hub will be equipped with advanced infrastructure, innovation and incubation centres, production units, training of trainer facilities, and placement services, while the spokes will extend access and outreach.
• “In the coming months, further Strategic Investment Plans are expected to receive National Steering Committee approval, paving way for a transformed vocational education and training ecosystem for Viksit Bharat 2047,” an official statement said.