Cabinet Approves Continuation Of Skill India Scheme With INR 8.8K Cr Outlay - Related to continuation, ipo-bound, 8.8k, d2c, channels

Cabinet Approves Continuation Of Skill India Scheme With INR 8.8K Cr Outlay

The Ministry of Skill Development and Entrepreneurship stated that more than [website] Cr individuals have benefited from the three skilling schemes so far.

The key three key pillars – PMKVY [website], PM-NAPS, and JSS scheme – will now be combined under the Skill India Programme.

This approval underscores the government’s commitment to building a skilled, future-ready workforce, mentioned an official statement.

The Union Cabinet has approved continuation and restructuring of the “Skill India Programme” till 2026 with an outlay of INR 8,800 Cr.

“This approval underscores the government’s commitment to building a skilled, future-ready workforce by integrating demand-driven, technology-enabled, and industry-aligned training across the country,” presented an official statement.

The outlay will cover the period between 2022-23 and 2025-26. An official press statement also added that Pradhan Mantri Kaushal Vikas Yojana [website] (PMKVY [website], the Pradhan Mantri National Apprenticeship Promotion Scheme (PM-NAPS), and the Jan Shikshan Sansthan (JSS) Scheme will now be combined under the Skill India Programme.

The government also presented that the three initiatives will aim to provide structured skill development, on-the-job training, and community-based learning for both urban and rural populations. The Ministry of Skill Development and Entrepreneurship presented that more than [website] Cr individuals have benefited from the schemes so far.

It is pertinent to note that PMKVY [website] provides 400+ short-term reskilling and upskilling courses to beneficiaries in emerging areas such as artificial intelligence (AI), cybersecurity, green hydrogen, drone technology, among others. Under this, the government has established “skill hubs” at academic institutions, including IITs, NITs, Kendriya Vidyalayas, among others.

An official statement added that a national pool of one1 Lakh assessors and trainers is being developed under PMKVY [website] to ensure standardisation and expertise across training centers.

Meanwhile, PM-NAPS offers apprenticeship to ensure individuals gain industry-specific skills through “real-world exposure”. Under the scheme, the Centre provides stipends up to INR 1,500 per month per apprentice via direct benefit transfer (DBT) during the training period.

The JSS scheme is a community-centric skilling initiative to offer vocational training for women, rural youth, and economically disadvantaged groups.

“With the continuation of the Skill India Programme, the government seeks to reinforce its commitment to lifelong learning, recognizing the importance of continuous upskilling and reskilling in today’s rapidly changing employment landscape. The initiative will directly contribute to the Periodic Labour Force Survey (PLFS) data, ensuring that workforce development policies remain aligned with economic and industrial trends,” read the official statement.

This comes barely days after the union government informed the Parliament that 19,774 individuals have so far been trained in various AI courses under PMKVY [website] This also follows finance minister Nirmala Sitharaman, earlier this month in her Budget 2025-26 speech, proposing the establishment of five new centres of excellence (CoEs) for skilling.

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The Peak XV-backed B2B marketplace has finalised six bankers to helm its upcoming IPO.

The startup received the board’s approval for the fundraise, wh...

Dairy Startup Cremeitalia Bags Funding To Expand Its D2C Sale Channels

Founded in 2018 by Prateek Mittal and Rajas Dhote, Cremeitalia makes cheese products using traditional Italian farm methods and technology.

Besides, the proceeds would be deployed for team expansion and strengthen brand-building efforts through digital marketing and industry collaborations.

The startup plans to use the fresh capital to expand operations, enhance R&D capabilities, scale distribution and retail presence.

Dairy startup Cremeitalia has secured INR 18 Cr (around $[website] Mn) in a Series A funding round led by the Amit Jatia Family Office.

The round also saw participation from various other investors and family houses, including BL Taparia Family Office (B2V Ventures), Sixth Sense Ventures’ founder and CEO Nikhil Vora, Vikram Saboo & Family, Arunkumar Jatia & Family, Vitalis Capital Family Trust, Anil Mittal Family Office and other high-net-worth individuals (HNIs).

The startup plans to use the fresh capital to expand operations, enhance R&D capabilities, scale distribution and retail presence. Besides, the proceeds would be deployed for team expansion and strengthen brand-building efforts through digital marketing and industry collaborations.

Cremeitalia also aims to bolster its B2B outreach, expand its physical retail footprint in new cities, scale its direct-to-consumer (D2C) sales channels and enhance consumer offerings.

Prateek Mittal, CEO and cofounder of Cremeitalia, stated, “With this funding round, our goal is to achieve a 5X scale-up in the next 18-24 months while building a fundamentally strong business that sets new industry benchmarks.”.

Rajas Dhote, cofounder and COO, noted, “By deploying these funds strategically, we aim to streamline operations, improve economies of scale to achieve higher gross margins, and deliver superior value to our consumers. Many of our investors come from manufacturing backgrounds, and we look forward to leveraging their expertise to drive operational efficiencies and sustainable growth.”.

Founded in 2018 by Prateek Mittal and Rajas Dhote, Cremeitalia makes cheese products using traditional Italian farm methods and technology.

The startup competes against Eleftheria Cheese in the immediate cheese product category and, in the broader segment of dairy products, with other well-known startups like Country Delight, Happy Milk, Puresh Daily, Stellapps, SRC Farms, Milk Mantra, Aamro Dairies, Absolute Milk, Matratva Dairy, and “The Good Cow organization.”.

The development comes at the heart of several dairy startups receiving funding from investors to enhance their operations and expand their market reach.

In November last year, dairy startup Doodhvale Farms raised $3 Mn (around INR [website] Cr) in an undisclosed funding round co-led by Atomic Capital and Singularity Early Opportunities Fund.

Before that in October, another dairytech startup Stellapps secured Series C funding of $26 Mn (around INR [website] Cr) in a mix of debt and equity infusion from a host of existing investors, including Blume Ventures, Omnivore, Bill & Melinda Gates Foundation, IDH Farmfit Fund, 500 Startups and Blue Ashva Capital, along with Miledeep Capital joining the cap table.

This interest from the investors is evident as India is the number one milk-producing nation in the world. The country produces 24% of the world’s milk and has witnessed a 51% increase in milk production between 2014 and 2022.

All in all, the Indian dairy industry is projected to become an INR [website] Lakh Cr opportunity by 2032, growing at a CAGR of 13% from 2023.

In terms of top line, the 98 startups posted a cumulative operating revenue of over INR [website] Lakh Cr during the fiscal year ended March 2024.

Earlier, Inc42 reported that ILN was looking to separate from Mensa Brands. However, the separation talks have been shelved for now.

IPO-Bound Zetwerk To Raise Around $30 Mn At $3.1 Bn Valuation

The Peak XV-backed B2B marketplace has finalised six bankers to helm its upcoming IPO.

The startup received the board’s approval for the fundraise, which is a part of its December funding round, last week.

Zetwerk is raising the funding from Indian family offices and high-net-worth individuals with an eye on increasing domestic ownership.

IPO-bound B2B manufacturing unicorn Zetwerk is in talks to raise $25 Mn to $30 Mn from Indian family offices and high-net-worth individuals (HNIs), findings told Inc42.

The funding round will value the startup at $[website] Bn and is aimed at increasing domestic ownership in the startup, the insights added.

Zetwerk declined to comment on the development.

Meanwhile, data told Moneycontrol that the corporation received the board approval for the fundraise last week, adding that the fundraise is part of Zetwork’s funding round of December 2024.

In December, the startup raised $70 Mn from Silicon Valley-based Khosla Ventures, Indigo Airlines cofounder Rakesh Gangwal, Baillie Gifford, among others. Overall, Zetwerk secured $90 Mn in funding in 2024.

Founded in 2018 by Srinath Ramakkrushnan, Amrit Acharya, Rahul Sharma, and Vishal Chaudhary, Zetwerk connects vendors and suppliers with manufacturing companies for procuring industrial machine components.

The startup entered the unicorn club in 2021. It has raised a total funding of over $700 Mn till date and counts the likes of Peak XV Partners, Lightspeed, Mars Growth Capital, among others, as its backers.

Last year, the startup also unveiled its foray into IT hardware and electric vehicle (EV) component manufacturing. Additionally, it set aside INR 1,000 Cr ($122 Mn) to invest in electronics manufacturing.

Zetwerk competes with the likes of Moglix, OfBusiness, among others.

the startup is looking to raise up to $500 Mn Bn via its initial public offering (IPO). In October last year, Inc42 reported that the business had initiated discussions with investment bankers like JP Morgan, Axis Capital, Goldman Sachs, Jefferies Financial Group, JM Financial, and Kotak Mahindra Bank for its upcoming public issue.

Last month, reports surfaced that the Peak XV-backed B2B marketplace finalised six bankers – Axis Capital, Goldman Sachs Group, Jefferies Financial Group, JM Financial, JPMorgan Chase & Co and Kotak Mahindra Bank – to helm its potential $500 Mn IPO later this year.

The development also comes at a time when a host of Indian startups are raising funds in the run up to their public listings. Last month, [website] bagged INR 1,050 Cr in its pre-IPO round at a valuation of about $[website] Bn.

Earlier this month, B2B seafood startup Captain Fresh bagged INR 250 Cr in its ongoing pre-IPO funding round led by existing investors Prosus Ventures, Accel and Tiger Global. Last month, B2B ecommerce platform ArisInfra Solutions also undertook a pre-IPO placement to raise INR 80 Cr.

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