Foreign universities mobilized to give courses on employability skills
The idea is to impart employability skills to international standards to meet the high demand for skilled professionals across the world, while creating a strong skilled workforce for India as large multinational corporations consider to establish themselves here as part of their China plus one strategy. .
“India needs a skilled workforce to attract capital inflows. Through these programs, we will aim to provide applicants with employability skills as well as greater international exposure,” said Ved Mani Tiwari, official managing director of NSDC, to ET.
According to Tiwari, the NSDC aims to train, develop and retrain 35 million candidates by 2025. Of these, 5 million will come from school or higher education, while another 5 million will be enrolled in degree programs. workplace education with apprenticeship training.
These are paid online programs and run from three months to six months, after which applicants can become eligible for a paid internship over the next 18 months, depending on the score achieved.
To facilitate the enrollment of students in these international programs, the NSDC has partnered with non-bank financial companies to provide collateral-free skills loan of up to Rs 4 lakh to aspiring applicants.
Additionally, it has launched a “Learn Now, Pay Later” program for certain courses in which applicants can learn the skills and pay the full program fee after being placed. “Through this, we want to ensure that lack of money is not a constraint for aspiring candidates,” Tiwari added.
Additionally, in order to retain candidates in the skills ecosystem, the Ministry of Skills Development and Entrepreneurship has engaged private companies for the Skill Impact Bond. Under this, the NSDC attracted foreign capital of Rs 120 crore.