National Skill Development Corporation (NSDC)

 

National Skill Development Corporation (NSDC)

·        Finance Ministry of India established 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.

Objectives of National Skill Development Corporation

The primary objectives of NSDC are as follows:

  • Train and develop skills considering international standards by involving trainees in significant industries.
  • Create essential frameworks for curriculum, quality assurance and standards for training.
  • Support, amplify and synchronise private sectors enterprises for skill development with the help of relevant Public-Private Partnership models.
  • Endeavour for crucial financial and operational involvement in skill development initiatives from private sectors.
  • Bring financing as a market maker, especially in sectors having fewer market mechanisms.
  • Prioritise initiatives having a catalytic or multiplier effect rather than a one-off impact.

Pillars of National Skill Development Corporation

NSDC’s model is established on 3 significant pillars as follows:

Create: Actively creating quality and large vocational training centres.

Enable: Create and sustain with required support systems for skill development, including Sector Skill Councils conducted by industries.

Fund: Mitigating risks by providing substantial capital, grant and equity.

 

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