April 18, 2011: In a major initiative towards vocational training, Everonn has joined hands with the National Skill Development Corporation’s (NSDC) mission with the launch of International Skills School to skill people from across nine key sectors to make them employable.
NSDC is a not-for-profit company set up by the Ministry of Finance as the first PPP initiative with the mandate to skill 150 million people by 2022 in 21 focus sectors. This is part of the government’s overall target to train 500 million people by 2022 to meet the global skills shortage.
Everonn’s wholly owned Skill development subsidiary, Everonn SKILL development Ltd. has been mandated by NSDC to train 15 million people (10% of NSDC’s overall target of 150 million) by 2022. NSDC will invest 27% as equity in the wholly owned Skill development subsidiary of Everonn Education Ltd. i.e. Everonn Skill development Limited (ESDL)
The total investment required for setting up 271 multi skill development centers all across the country would be Rs. 153.76 crore. The NSDC will subscribe to 27% equity in Everonn Skill Development Ltd. (ESDL) for Rs 14.15 crore. In addition, the NSDC would also provide a loan of Rs 101.34 crore to ESDL. ESDL will be investing Rs. 38.27 crores, as its contribution in the venture. ESDL will be training 15 million people over the next 12 years through these centres. The average course fee is expected to be approximately Rs. 9,000 per person with the course ranging from 30 days to six months in nine sectors - Textile and Apparel, Retail, Hospitality, Automobile, Healthcare, Construction, IT and ITES, Basic Engineering, Multimedia. This may translate into an overall revenue generating potential of approximately Rs. 14,250 crores over the next 12 years.
To begin with, the courses will be offered in the States likes Gujarat, Maharashtra, Andhra Pradesh, Karnataka and Tamil Nadu. The training will be imparted through brick and mortar as well as technology enabled delivery wherever necessary. ESDL & NSDC will assist the needy and deserving candidates in availing Bank Loan facility.
The target beneficiaries for the training, re-skilling and up-skilling are identified primarily from tier – II and tier – III locations, based on placement assurances which come through industry tie-ups which are already in place across most sectors.
The trainees would cover students ranging from those opting for non-formal training, those seeking employment after short-term or specialized courses, industrial worker seeking re skilling or up skilling, unemployed youth seeking a career at entry level positions, employed industrial workers seeking certification of their skills for vertical or horizontal mobility and even the skill development instructors.
In its endeavour to provide trained, certified and readily employable workforce to the industry, ESDL has tied up with NGOs, corporates and trade bodies for training and placements.
The scope for scaling new heights in skill development can be gauged from the huge supply-demand gap with the manifold growth in investments in various sectors, across the board.