The agreement was signed by the Additional Secretary in the Department of Economic Affairs Adarsh Kishore on behalf of the government of India and country director of the World Bank Michael F Carter.
Six state governments are also participating in this project and secretaries in charge of technical education of these states signed the documents on behalf of their states, according to an official release.
TEQIP is a new initiative taken by the department of secondary and higher education with assistance of $250 million dollars in the first phase covering a period of five years.
It is expected to bring a systemic transformation of the technical education sector and will develop 40 to 50 competitively selected engineering institutions into centres of excellence by introducing wide ranging reforms and greater autonomy, says the release.
