National Skill Development Corporation

What is National Skill Development Corporation?

The National Skill Development Corporation (NSDC) is a not-for-profit company set up by the Ministry of Finance under Section 25 of the Companies Act.

The NSDC aims to promote skill development by catalyzing the creation of large, high-quality, scalable, for-profit vocational training institutions. They provide funding to vocational training initiatives with an investment range between INR 500,000 and INR 4,000,000.

Their mandate extends beyond funding as they also enable support systems that include quality assurance, information systems, and training academies either directly or via partnerships. NSDC plays a critical role in bridging the structural gap in the skilling capacity in India by funding numerous projects across the country.

Through their market-led partnerships, NSDC encourages private sector initiatives in skill development programs and forms alliances for corporate social responsibility (CSR) initiatives, focusing on improving the employability of the working population, including the underprivileged sections.

They offer non-funding support by fostering industry partnerships and provide a platform for launching training centers and quality assurance mechanisms.

They are involved in apprenticeships and have launched several schemes and initiatives such as the Pradhan Mantri Kaushal Vikas Yojana (PMKVY), Technical Intern Training Program (TITP), and Skill Impact Bond programs, among others. NSDC's international wing facilitates skill training abroad. Besides funding, they have developed a range of services such as SMART (Standard Management Aptitude Rating Test), Takshashila – National Portal for Trainers and Assessors, and Kaushal Mart – Skilling Resource Marketplace.

Their focus also extends to entrepreneurship support initiatives and employment fairs (Rozgar Mela). NSDC provides comprehensive assistance through skill sector councils, training partner networks, training assessments, and skill gap studies. They work in various sectors and continuously update their programs to include relevant trades and skills in demand in both domestic and global markets.