The Government of India has entered into major financing agreements with the Asian Development Bank (ADB), securing loans worth more than $800 million to support infrastructure and skill development initiatives in Maharashtra, Madhya Pradesh, and Gujarat. Alongside these loans, a $1 million Technical Assistance grant has been approved for a project in Assam.
Loan Agreements Signed
The agreements were formalized under the guidance of the Department of Economic Affairs, Ministry of Finance. On behalf of the Government of India, Deputy Secretary Shri Saurabh Singh signed the documents, while Ms. Mio Oka, Country Director of ADB’s India Resident Mission, represented the bank.
The three loan packages include:
- Maharashtra Power Distribution Enhancement Programme for Agricultural Solarization – $500 million
- Indore Metro Rail Project – ¥27.14 billion (approx. $190.6 million)
- Gujarat Skills Development Programme – $109.97 million
Additionally, the Sustainable Wetland and Integrated Fisheries Transformation (SWIFT) Project in Assam will receive a $1 million Technical Assistance grant to strengthen wetland ecosystems and fisheries.
Maharashtra: Solar Power for Farmers
The $500 million programme in Maharashtra focuses on modernizing rural electricity infrastructure and expanding renewable energy. By 2028, the initiative aims to deliver reliable daytime solar power to nearly 900,000 farmers, boosting irrigation and agricultural productivity. Plans include upgrading substations, installing transformers, building transmission lines, and deploying 500 MWh of battery storage.
Madhya Pradesh: Indore Metro Expansion
The Indore Metro Rail Project, financed through a Japanese Yen‑denominated loan, will construct an 8.62‑km underground metro line with seven stations. The new corridor will connect congested parts of the city to the airport, integrating with buses and feeder services. The project is being implemented by the Madhya Pradesh Metro Rail Corporation Limited, with operations expected to begin by January 2030.
Gujarat: Workforce Skill Development
In Gujarat, the $109.97 million Skills Development Programme will strengthen the state’s workforce by aligning training with industry needs in sectors such as IT, logistics, automotive, renewable energy, healthcare, and agri‑tech.
The initiative, led by the Labour, Skill Development and Employment Department in partnership with Kaushalya: The Skill University (KSU), will upgrade 11 mega ITIs, establish centres of excellence, and collaborate with private training providers through a hub‑and‑spoke model.
