Hello Readers,
National Skill Development Corporation (NSDC) is a not-for-profit public limited company incorporated on July 31, 2008 under section 25 of the Companies Act, 1956 (corresponding to section 8 of the Companies Act, 2013). NSDC was set up by Ministry of Finance as Public Private Partnership (PPP) model. The Government of India through Ministry of Skill Development & Entrepreneurship (MSDE) holds 49% of the share capital of NSDC, while the private sector has the balance 51% of the share capital.
Vision
NSDC was set up as part of a national skill development mission to fulfil the growing need in India for skilled manpower across sectors and narrow the existing gap between the demand and supply of skills. “There is a compelling need to launch a world-class skill development program in a mission mode that will address the challenge of imparting the skills required by a growing economy. Both the structure and the leadership of the mission must be such that the program can be scaled up quickly to cover the whole country.”
Mission
- Upgrade skills to international standards through significant industry involvement and develop necessary frameworks for standards, curriculum and quality assurance.
- Enhance, support and coordinate private sector initiatives for skill development through appropriate Public-Private Partnership (PPP) models; strive for significant operational and financial involvement from private sector.
- Play the role of a ‘market-maker’ by bringing funds, particularly in sectors where market mechanisms are ineffective or missing.
- Prioritize initiatives that can have a multiplier or catalytic effect as opposed to one-off impact.
NSDC plays 3 roles
- Funding and incentivizing: This involve providing financing either as loans or equity, providing grants and supporting financial incentives to select private sector initiatives to improve financial viability through tax breaks, etc. The exact nature of funding (equity, loan and grant) will depend on the viability or attractiveness of the segment and, to some extent, the type of player (for-profit private, non-profit industry association or non-profit NGO). Over time, the NSDC aspires to create strong viable business models and reduce its grant-making role.
- Enabling support services: A skills development institute requires a number of inputs or support services such as curriculum, faculty training standards, quality assurance, technology platforms, and student placement mechanisms and so on. NSDC plays a significant enabling role in these support services, most importantly in setting up standards and accreditation systems in partnership with industry associations.
- Shaping/creating: In the near-term, the NSDC will proactively seed and provide momentum for large-scale participation by private players in skill development. NSDC will identify critical skill groups, develop models for skill development and attract potential private players and provide support to these efforts.
Initiatives toward Skill development by NSDC
- Pradhan Mantri Kaushal Vikas Yojana: Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is the flagship scheme of the Ministry of Skill Development and Entrepreneurship (MSDE) implemented by National Skill Development Corporation (NSDC). The objective of this Skill Certification scheme is to enable Indian youth to take up industry relevant skill training that will help them in securing a better livelihood. For more updates, you can refer the link, https://msde.gov.in/index.php/en/schemes-initiatives/short-term-training/pmkvy-3.0
- Pradhan Mantri Kaushal Kendra: Under the “Skill India Mission”, Ministry of Skill Development and Entrepreneurship (MSDE) has initiated the establishment of state of the art, visible, aspirational model training centres (MTC) in every district of India and NSDC is the implementation agency for the project. Vocational training needs to be made aspirational to transform India into the skill capital of the world. For more details kindly refer to, https://www.nsdcindia.org/pmkk
- India International Skill Centre (IISC) Network: Government of India is keen to bridge the global shortage of labour force in the coming years by reaping the demographic dividend of young Indian labour force. To meet this objective, Ministry of Skill Development & Entrepreneurship (MSDE) under the “Skill India Mission” has set up India International Skill Centre (IISC) to provide skill training and certification benchmarked to international standards. In the pilot phase, IISCs were set up through the National Skill Development Corporation (NSDC) to implement two schemes namely Pradhan Mantri Kaushal Vikas Yojana (PMKVY) and Pravasi Kaushal Vikas Yojana (PKVY) for youth seeking global mobility for jobs. For more details kindly refer to, https://nsdcindia.org/iisc-network
- Technical Intern Training Program (TITP): TITP commenced in 1993 in Japan. The program aims to contribute to developing countries by accepting its people and transferring skills through On-the-job Training (OJT) in Japan. It promotes international cooperation through transfer of skills, techniques and knowledge gained by technical interns to the developing nations. This will not only contribute to the human resource development but will drive economic growth of the said regions. For more details kindly refer to, https://nsdcindia.org/home-titp
- Skill Impact BOND: India’s aspirational youth requires skills for the jobs that meet the demand of the industry. Core functional knowledge and competencies enhance an individual’s ability to secure and retain a job and improves their potential to earn. Skill Impact Bond is a collaborative effort of NSDC and esteemed global organisations and people who share their vision to improve skilling outcomes in India. This landmark financial instrument applies an entrepreneurial approach to philanthropy and assures accountability which contributes to achievement of set objectives. For more details kindly refer to, https://nsdcindia.org/sib
- Seekho aur Kamao: Seekho aur Kamao (Learn & Earn) is a scheme implemented by Ministry of Minority Affairs since 2013-14 and is aimed at skill development of minorities for union territories of J&K and Ladakh. The scheme entails upgrading the skills of minority youth in various modern/traditional skills depending upon their qualification, present economic trends and market potential, which can earn them suitable employment or equip them with skills to opt for self-employment. For more details kindly refer to, https://nsdcindia.org/seekhoaurkamao
- SWADES: Government of India is conducting skill mapping of overseas returning citizens through Vande Bharat Mission. Collected information will be shared with Indian & foreign companies so that they can contact you directly if they need someone with your skills. If you are interested, fill your SWADES Skill Card at, http://nsdcindia.org/swades/
There are various other Schemes covered under MSDE, for skill mapping, that is Udaan, SANKALP, Indian Institutes of skills, STRIVE, Skill Loan Scheme, Jan Shikshan Sanstha and such.
Disclaimer: This Article is only a knowledge sharing initiative and is based on the Relevant Provisions as applicable and as per the information existing at the time of the preparation. In no event RMPS & Co. or the Author or any other persons be liable for any direct and indirect result from this Article or any inadvertent omission of the provisions, update etc if any.
