Latest news with #RelianceGroup
Time of India
2 days ago
- Business
- Time of India
Big business backs skilling push: Reliance, Adani, Mahindra among firms eye ITI upgrade, Rs 60,000 crore plan gains momentum
At least a dozen large companies have shown interest in partnering with the Union government for the Rs 60,000-crore National Scheme for Industrial Training Institute (ITI) Upgradation. Tired of too many ads? go ad free now Eight of these—including Reliance Group, , Mahindra Group, JK Cement, Jindal Group, Toyota India, Schneider Electric and ArcelorMittal Nippon Steel—have submitted their preferred states and sectoral interests to the Ministry of Skill Development and Entrepreneurship. These partnerships will help set up 'hub and spoke ITIs' to offer industry-aligned skills training, ET reported citing people aware of the matter. Under the hub-and-spoke model, designated ITIs will serve as central hubs for training and resources, while connected vocational institutes (spokes) will access advanced infrastructure and faculty support from the hub. Besides the eight companies that have already submitted proposals, discussions are underway with Larsen & Toubro, Bajaj Auto, and the Aditya Birla Group, as well as major public sector units like Bharat Heavy Electricals Ltd, Mazagon Dock Shipbuilders, and Hindustan Aeronautics Ltd, according to ET. The scheme, cleared by the Union Cabinet in May, aims to upgrade 1,000 ITIs and train two million youth over five years, focusing on sectors aligned with future industry demands. Funding for the initiative includes Rs 30,000 crore from the Centre, Rs 20,000 crore from states, and Rs 10,000 crore from industry. The central government's share will be co-financed 50:50 by the and the Asian Development Bank. Arunkumar Pillai, CEO of NAMTECH (New Age Makers' Institute of Technology), a training initiative by ArcelorMittal Nippon Steel India, said: 'NAMTECH aims to train 500,000 youths by 2028. Tired of too many ads? go ad free now We stand ready to partner with the government to scale this mission and create a globally competitive, future-ready workforce.' An internal ministry presentation, reviewed by ET, showed that JK Cement has proposed to work in Rajasthan, Uttar Pradesh, and Madhya Pradesh, offering skills training in construction, electrical and electronics, renewable energy, and hospitality. Mahindra Group has shortlisted Maharashtra, Madhya Pradesh, and Goa, proposing training in automotive and hospitality. Reliance Group has pitched for work in Maharashtra, Gujarat, and Andhra Pradesh, covering sectors like renewables, retail, advanced manufacturing, and petrochemical engineering. Jindal Group plans to impart training in both traditional and new-age trades in Haryana, Chhattisgarh, Odisha, and Jharkhand. Toyota India has proposed to upgrade ITIs in Karnataka for automobile-related trades, while Adani Group aims to upgrade institutes across Gujarat, Bihar, Madhya Pradesh, Chhattisgarh, Jharkhand, Odisha, and the Northeast for training in areas such as solar power, drones, and port operations.
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Business Standard
2 days ago
- Business
- Business Standard
Reliance, Adani, Mahindra among top firms in ₹60k cr govt ITI upgrade plan
In a major push to boost industrial skills and youth employability, several top Indian and global companies are in talks with the Centre to partner in the ₹60,000-crore scheme to upgrade Industrial Training Institutes (ITIs) across India, according to a report by The Economic Times. The initiative, led by the Ministry of Skill Development and Entrepreneurship, aims to modernise 1,000 ITIs under a hub-and-spoke model, train two million youths over five years, and align vocational education with industry needs. So far, around 12 companies have expressed interest in collaborating with the ministry. Eight prominent players — Reliance Group, Adani Group, Mahindra Group, JK Cement, Jindal Group, Toyota India, Schneider Electric, and ArcelorMittal Nippon Steel — have submitted their preferences on the states and sectors in which they wish to set up hub-and-spoke ITIs, the news report said. Talks are also underway with other big names such as Larsen & Toubro, Bajaj Auto, Aditya Birla Group, and several public sector units including Bharat Heavy Electricals Ltd (BHEL), Mazagon Dock Shipbuilders, and Hindustan Aeronautics Ltd. What the model looks like The hub-and-spoke system involves key ITIs acting as hubs, providing advanced training and sharing resources with smaller spoke institutes in nearby areas. This model is designed to ensure uniform quality in vocational training while catering to specific region industry requirements, the news report said. Companies have proposed specific plans such as JK Cement will focus on Rajasthan, Uttar Pradesh, and Madhya Pradesh with training in construction, electronics, renewable energy, and hospitality. The Reliance Group has shortlisted Maharashtra, Gujarat, and Andhra Pradesh for training in renewables, advanced manufacturing, retail, and petrochemical engineering, the news report said. Committee to oversee implementation To guide the scheme's execution, the government has formed a National Steering Committee (NSC), chaired by Skill Secretary Rajit Punhani. It includes representatives from key ministries such as education, labour, commerce, and heavy industries, along with private sector participants like Bajaj Auto, Hero MotoCorp, and ITC Ltd. The committee is tasked with issuing scheme guidelines, setting policies, reallocating funds, and reviewing state proposals. It will also monitor the progress of five Centres of Excellence (CoEs) for Skilling, which will be set up at National Skill Training Institutes in Bhubaneswar, Chennai, Hyderabad, Kanpur, and Ludhiana. Focus on the manufacturing sector The upgraded ITIs and CoEs will place strong emphasis on skills required in the manufacturing sector. The government hopes the industry will play a key role not only in funding but also in shaping course content and standards to ensure employability. The scheme, with co-financing from the Asian Development Bank and World Bank, marks a significant step toward bridging the gap between industry requirements and workforce skills.
News18
2 days ago
- Business
- News18
Top Indian Companies Line Up To Partner In Rs 60,000-Crore ITI Upgrade Scheme: Report
Last Updated: At least a dozen top Indian companies are in talks to join the Rs 60,000-crore ITI Upgradation Scheme with the Skill Development Ministry At least a dozen leading Indian companies are in talks to partner with the Ministry of Skill Development and Entrepreneurship for the Rs 60,000-crore National Scheme for Industrial Training Institute (ITI) Upgradation, The Economic Times reported, citing people familiar with the matter. Eight corporates — Reliance Group, Adani Group, Mahindra Group, JK Cement, Jindal Group, Toyota India, Schneider Electric, and ArcelorMittal Nippon Steel — have already submitted their preferred states and sectors to the ministry, outlining plans to establish 'hub and spoke" ITIs to enhance skills training, the report said. 'Besides these, discussions are also underway with Larsen & Toubro, Bajaj Auto, Aditya Birla Group, and several major public sector enterprises including Bharat Heavy Electricals Ltd (BHEL), Mazagon Dock Shipbuilders, and Hindustan Aeronautics Ltd (HAL) to take part in the ITI upgradation effort," a source told ET on condition of anonymity. Approved by the Union Cabinet in May, the scheme aims to modernise 1,000 ITIs and train 2 million youth over the next five years. The hub-and-spoke model will allow central ITIs (hubs) to share resources with connected vocational institutes. The financing structure includes Rs 30,000 crore from the Centre, Rs 20,000 crore from states, and ₹10,000 crore from the industry. Half of the central share is expected to be co-financed equally by the Asian Development Bank (ADB) and the World Bank. According to an internal ministry presentation reviewed by ET, JK Cement has proposed to operate in Rajasthan, Uttar Pradesh, and Madhya Pradesh, with a focus on training in construction, electronics, renewable energy, and hospitality. Mahindra Group is keen on ITI upgrades in Maharashtra, Madhya Pradesh, and Goa, focused on the automotive and hospitality sectors. Reliance Group has shortlisted Maharashtra, Gujarat, and Andhra Pradesh for training in renewables, retail, advanced manufacturing, and petrochemical engineering. Jindal Group plans to offer skills in both traditional and new-age trades in clusters across Haryana, Chhattisgarh, Odisha, and Jharkhand. Toyota India is looking to upgrade ITIs in Karnataka for automobile-related training, while Adani Group has identified ITIs across Gujarat, Bihar, Madhya Pradesh, Chhattisgarh, Jharkhand, Odisha, and the Northeast for programmes in solar energy, drone operations, and port management. view comments First Published: July 22, 2025, 07:43 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Reuters
5 days ago
- Business
- Reuters
Germany's Allianz ties up with India's Reliance-owned Jio Financial for reinsurance venture
July 18 (Reuters) - German insurer Allianz ( opens new tab has formed an equally-owned reinsurance joint venture in India with Reliance Group-owned Jio Financial Services ( opens new tab, expanding its presence in the country's insurance market, the companies said on Friday. Allianz and Jio Financial signed a non-binding agreement to establish a 50-50 joint venture for both general and life insurance operations in India, the companies added. Reuters in March reported that Allianz was exploring a potential partnership with the Mukesh Ambani-led Reliance Group firm Jio Financial Services. Bloomberg News was the first to report the talks of the possible partnership last year. The German company is pushing forward with its expansion in the South Asian nation, describing India as an important growth market and stating it would pursue new opportunities to strengthen its position in the country's insurance sector. Earlier this year, Allianz had agreed to sell its 26% stake in its non-life and life insurance joint ventures with India's Bajaj Finserv for $2.8 billion, ending a decades-long partnership.
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Business Standard
7 days ago
- Business
- Business Standard
Reliance Industrial Infra gains 3% after Q1 results; check key numbers here
Reliance Industrial Infrastructure share price: Shares of Reliance Industrial Infrastructure, a Reliance Group company, touched an intraday high of ₹975.05, rising around 3 per cent on the NSE in an otherwise subdued market. At 2 PM, the stock price of Reliance Industrial was quoting higher at ₹962.5, up 1.73 per cent from the previous day's close of ₹946.15. In comparison, the benchmark NSE Nifty50 index was trading at 25,176.20 levels, down 35.85 points or 0.14 per cent. The company's total market capitalisation stood at ₹1453.38 crore. The stock has recovered around 30 per cent from its 52-week low of ₹726.45 touched on April 7, 2025. Its 52-week high was at ₹1,395. The rise in stock price came after the company reported its numbers for the quarter ended June 30, 2025. Reliance Industrial Q1FY26 results The company's consolidated total income fell marginally to ₹18.28 crore from ₹18.43 crore in the year-ago period. Its profit before depreciation, interest and tax (PBDIT) rose 12.1 per cent to ₹4.37 crore from 3.9 crore in the year-ago period. Consolidated net profit jumped 6.9 per cent to ₹3.1 crore in the reported quarter from ₹2.90 crore in the June 2024 quarter. On a standalone basis, the company's net profit rose 6.3 per cent to ₹2.56 crore compared to ₹2.41 crore. On a sequential basis, Reliance Industrial's consolidated total income fell 3.5 per cent compared to ₹18.94 crore in the March 2025 quarter. However, its PBDIT rose 21.1 per cent from ₹3.61 crore in the previous quarter. Consolidated net profit fell 3.1 per cent from 3.2 crore in Q4FY25. About Reliance Industrial Infrastructure Reliance Industrial, a Reliance Group company, is mainly engaged in the business of setting up industrial infrastructure. The company is engaged in infrastructure and support services activities, including transportation of petroleum products and raw water through pipelines and other infrastructure support services, mainly to Reliance Industries. It also offers related activities involving leasing and providing services connected with computer software and data processing. The company has its operations in the Mumbai and the Rasayani regions of Maharashtra, Surat and Jamnagar belts of Gujarat.
