
National Skill Development Corporation (NSDC) Registration
The National Skill Development Corporation (NSDC) plays a pivotal role in enhancing skill development in India through various initiatives and schemes. Established as a not-for-profit company under the Ministry of Finance, NSDC focuses on fostering partnerships and funding vocational institutions to promote skill development across different sectors. Offering a wide array of courses and support services, NSDC aims to empower individuals, institutions, and organizations to contribute to India's workforce development. From offering quality training programs to facilitating international opportunities, NSDC's efforts are geared towards upskilling the Indian youth and promoting economic growth. With its diverse range of schemes and initiatives, NSDC provides ample opportunities for individuals and entities to engage in skill development efforts.
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Overview of NSDC
The National Skill Development Corporation (NSDC) is a not-for-profit company which was established by the Ministry of Finance under Section 25 of the Companies Act, 1956 (similar to Section 8 of the Companies Act, 2013) on July 31, 2008. It’s a Public Private Partnership (PPP) between the Government of India which holds 49% stake through the Ministry of Skill Development & Entrepreneurship (MSDE) and the Private Sector which owns the remaining 51% stake.
NSDC's main goal is to boost skill development by encouraging the establishment of high-quality vocational institutions that can make a profit. It provides financial support to help set up these institutions and offers funding for vocational training programs. NSDC also works to ensure quality standards, develop information systems, and establish training academies for instructors, either directly or through partnerships. The organization acts as a catalyst in skill development by funding enterprises, companies, and organizations that offer skill training. It also creates models to support and coordinate private sector initiatives. NSDC focuses on 37 different sectors and understands their potential for attracting private investment. As per the official data NSDC, in the fiscal year 2019-2020, trained around 20.45 lakh youths across 10,373 training centres.
National Skill Development Corporation (NSDC) Registration
What does NSDC do?
The NSDC strives for skill development, however, it doesn't directly operate in the skill development space but rather facilitates initiatives having potential multiplier effects. It aims to engage the industry in all aspects of skill development, instead of taking on numerous initiatives directly or duplicating existing efforts, NSDC focuses on developing partnerships with various stakeholders to scale up efforts towards the up-skilling of 150 million Indians.
- NSDC follows these strategies to do so:
- Developing ultra-low-cost, high-quality, innovative business models.
- Attracting significant private investment.
- Ensuring funds primarily circulate as loans or equity rather than grants.
- Creating leverage for itself and building a robust corpus.
- In accordance with these strategies, NSDC undertakes these three key roles:
- Funding and incentivizing: This involves providing financial support, such as loans, equity, or grants, to select private sector initiatives. The nature of funding depends on the viability of the segment and the type of player involved. NSDC aims to gradually reduce its grant-making role by fostering strong, viable business models.
- Enabling support services: NSDC plays a crucial role in providing support services essential for skills development institutes. This includes setting standards and accreditation systems in partnership with industry associations, ensuring quality curriculum, faculty training, and technology platforms.
- Shaping/creating: NSDC actively seeds and promotes large-scale private sector participation in skill development. It identifies critical skill groups, develops skill development models, attracts potential private players, and provides support to these endeavours.
NSDC Courses Available in India
NSDC offers courses in the following skill sectors:
- Apparel Made-Ups & Home Furnishing Sector Skill Council
- Capital Goods Skill Council
- Domestic Workers Sector Skill Council
- Food Industry Capacity & Skill Initiative
- Gem & Jewellery Skill Council of India
- Healthcare Sector Skill Council
- Indian Plumbing Skills Council
- IT-ITeS Sector Skill Council
- Logistics Sector Skill Council
- Media & Entertainment Skill Council
- Skill Council for the Mining Sector and more.
So, people can get good training from the NSDC courses listed above, which can help them find different job opportunities. Moreover, those interested can pick from various NSDC online courses like Domestic Data Entry Operator- English, Computer Hardware Repairing, Computer Basics, and more. Besides improving skills, people might like these courses because they're easy to access online and cost less.
How to Get an NSDC Affiliation?
NSDC affiliation is of two types:
- Funded Alliance
- Non-Funded Alliance
Basis | Funding Guideline |
---|---|
Eligibility | Legal entities including company, society, and trust etc. |
Fundings available for | Training infrastructure (except acquisition or creation of immovables) and Working capital |
Rate of interest | 6% per annum |
Moratorium period for principal | Up to 3 years |
Repayment duration | 7 years including a moratorium |
Minimum promotor contribution | 15% of investment requirement for not-for-profit entities and 25% for for-profit entities. |
Training commitment | 1. Standard proposals: 20,000 persons for more than 7 years 2. Corporates listed on NSE/BSE for over 3 years with a credit rating of A or more or foundations/ventures of such organisations: 5000 persons per centre for more than 7 years 3. Engineering colleges, private universities, polytechnics, ITI: 5000 candidates for over 7 years |
Placement guarantee commitment | Minimum 70% |
Collateral | 1. The first charge on assets or cash flows of the project or IP developed under the project. 2. Personal/corporate guarantee or Put-option in another associate company. 3. Pledge in case of corporates: shares worth a minimum of 51% of the equity of the project implementing and Pledge letters in case of not-for-profit entities. 4. Post-dated cheques 5. Hard collateral such as bank guarantee, mortgage of immovable property, lien on fixed deposits etc covering a minimum of 30% of the loan amount. |
Non-Funded Affiliation
NSDC incorporates reputed entities with established credentials willing to be part of Skill India or Make in India Mission, without requiring funding. However, the proposals submitted must be robust, catering to sectors with high growth, unmet needs or unorganized sectors. They must be outcome-oriented and should focus on placement in industry, self-employment and entrepreneurship.
- Eligibility for Non-Funded Affiliation
- For-profit entities:
- An entity with more than five years in operation with sustainable growth.
- An entity listed on BSE/NSE for more than five years with sustainable growth and having a credit rating of A- and above, a separate TOR and due-diligence process may be applicable.
- Not-for-profit entities:
- A not-for-profit entity that has more than five years of sustainable growth.
- A not-for-profit entity already funded by the World Bank, ADB, MSDF, UNDP etc. or foundation/social ventures of large corporates. Separate TOR and due-diligence would be applicable.
- For-profit entities:
- Training Outcome:
- A minimum of 2,000 persons over three years with a placement commitment of 70% (for-profit organisations)
- A minimum of 5,000 persons over three years with a placement commitment of 70% (not-for-profit organisation)
- On achieving 70% of the committed target, the partnership would be renewed automatically every year.
NSDC’s Schemes and Initiatives
Once you register with NSDC, you can apply for various schemes based on your eligibility and needs. These schemes and initiatives are as follows:
- Pradhan Mantri Kaushal Vikas Yojana (PMKVY): Managed by NSDC, this government initiative, under the Minister of Skill Development and Entrepreneurship (MSDE), offers skill training to Indian youths in industries to help them secure employment and earn a living.
- Pradhan Mantri Kaushal Kendra: This scheme encourages vocational training to enhance the skills of Indian youths. The MSDE plans to establish Model Training Centres (MTCs) in cities and districts as part of this initiative.
- India International Skill Centre (IISC) Network: This platform facilitates international workforce opportunities for Indians. It includes Member Organizations operating through various fixed centres known as IISC.
- Technical Training Intern Program (TITP): Initiated in 2017 through a memorandum of cooperation between Japan's Welfare, the Indian government, MSDE, the Ministry of Foreign Affairs, and the Ministry of Health. NSDC selects organizations and sends skilled youths to Japan for technical internships.
- Skill Impact Bond: This initiative has supported over 50,000 young people in India for more than 4 years, with 60% being women and girls. They receive training for skills needed in various sectors for COVID-19 recovery.
- Seekho Aur Kamao: Implemented in the Union Territories of Jammu and Kashmir, and Ladakh, this scheme focuses on skill development for minorities in these areas.
- SWADES: Through the Vande Bharat Mission, the Indian government is mapping the skills of overseas returning citizens. They are required to fill out the SWADES skill card to connect with Indian and foreign companies for opportunities.
- Udaan: A project initiated by the Ministry of Housing under NSDC, Udaan targets the educated and unemployed youth of Jammu and Kashmir, enhancing their skills and providing exposure to practical industry conditions.
Now that you have comprehensive knowledge about NSDC, its courses, schemes, and initiatives, you can easily choose to register. Whether you opt for NSDC registration as a partner or a training provider, NSDC acts as a nurturer for India’s youth, aiding in the growth of their skills. It offers a diverse range of courses, supports various skill development schemes, and collaborates with numerous institutions and individuals to achieve its objectives.
Whether you're a young individual aiming to enhance your skills, an institution seeking affiliation, or someone interested in partnering with NSDC, there are ample opportunities available and the expert team of professionals at RegisterKaro can ensure you a streamlined registration process that too at affordable rates. Feel free to contact us for any queries.
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