National Skill Development Corporation (NSDC) was setup as a one of its kind, Public Private Partnership Company with the primary mandate of catalysing the skills landscape in India is a not-for-profit public limited company incorporated on July 31, 2008 under section 25 of the Companies Act, 1956. 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 main objectives of the NSDC are to:
Upgrade skills to international standards through significant industry involvement and develop necessary frameworks for standards, curriculum and quality assurance
Enhance, support and coordinate private sector initiatives for skill development through appropriate Public-Private Partnership (PPP) models; strive for significant operational and financial involvement from the private sector
Development of programs and schemes, alignment to NSQF and capacity building, operationalization of program, capacity building efforts among others.
Vocationalisation of education through specific training programs, evolution of credit framework, entrepreneur development, etc.
Capacity building of marginalized and special groups (Non-profit organizations), development of livelihood, self-employment and entrepreneurship programs.
Support to early-stage social entrepreneurs working on innovative business models to address gaps in the skilling ecosystem, including programs for persons with disability.
Promote skill development by catalyzing creation of large, quality and for-profit vocational institutions. The organisation provides funding to build scalable and profitable vocational training initiatives.
Its mandate is also to enable support system which focuses on quality assurance, information systems and train the trainer academies either directly or through partnerships.
NSDC acts as a catalyst in skill development by providing funding to enterprises, companies and organizations that provide skill training.
It also develops appropriate models to enhance, support and coordinate private sector initiatives.
The differentiated focus on 21 sectors under NSDC’s purview and its understanding of their viability will make every sector attractive to private investment.