NATIONAL SKILL DEVELOPEMENT CORPORATION
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.
The NSDC facilitates initiatives that can potentially have a multiplier effect as opposed to being an actual operator in this space. In doing so, it strives to involve the industry in all aspects of skill development.
- World Education Mission
The approach is to develop partnerships with multiple stakeholders and build on current efforts, rather than undertaking too many initiatives directly, or duplicating efforts currently underway. To scale up efforts necessary to achieve the objective of skilling / up-skilling 150 million people, the NSDC strives to:
- Develop ultra-low-cost, high-quality, innovative business models.
- Attract significant private investment.
- Ensure that its funds are largely “re-circulating” i.e., loan or equity rather than grant.
- Create leverage for itself.
- Build a strong corpus.
World Education Mission is a registered Training Provider of NSDC under SMART scheme since year 2018 and is a registered non-funding partner of NSDC to conduct various skill development programmes. Till date WEM has trained numerous candidates under these schemes and has provided placements to candidates after successful completion of the trainings.