Four-S Weekly Edutrack 25th September - 2nd October, 2011
NIIT and NSDC form joint venture to fuel growth in Skills & Employability for youth across India
NIIT and National Skill Development Corporation (NSDC) have entered into a public-private partnership to enhance skills and employability for youth across India. Through this partnership it is estimated that around 70lac youth will be trained by 2022, in multi-skilling mode. The emphasis will be to offer job oriented training in semi-urban and rural areas, to applicants mainly from low and middle income households, aspiring to build successful careers through quality training taken along with formal education.
Under the Agreement, NSDC will participate in NIIT Yuva Jyoti Limited (NYJL), a subsidiary company of NIIT, via a mix of loans and equity. The total project outlay required for this ambitious project is `3.7bn over the first four years, making this one of the largest commitments of its kind to be undertaken till date. NYJL aims to setup over 1500 NIIT Yuva Jyoti Centres, across 1000 cities. NSDC is a not-for-profit company set up by the Ministry of Finance as the first PPP initiative with the mandate to skill up 1.5bn people by 2022 in 21 focus sectors. This is part of the overall target of Government of India to train 5bn people by 2022 to meet the global skills shortage.
NIIT and National Skill Development Corporation (NSDC) have entered into a public-private partnership to enhance skills and employability for youth across India. Through this partnership it is estimated that around 70lac youth will be trained by 2022, in multi-skilling mode. The emphasis will be to offer job oriented training in semi-urban and rural areas, to applicants mainly from low and middle income households, aspiring to build successful careers through quality training taken along with formal education.
Under the Agreement, NSDC will participate in NIIT Yuva Jyoti Limited (NYJL), a subsidiary company of NIIT, via a mix of loans and equity. The total project outlay required for this ambitious project is `3.7bn over the first four years, making this one of the largest commitments of its kind to be undertaken till date. NYJL aims to setup over 1500 NIIT Yuva Jyoti Centres, across 1000 cities. NSDC is a not-for-profit company set up by the Ministry of Finance as the first PPP initiative with the mandate to skill up 1.5bn people by 2022 in 21 focus sectors. This is part of the overall target of Government of India to train 5bn people by 2022 to meet the global skills shortage.
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