National Skill Development Corporation [NSDC]

The National Skill Development Corporation (NSDC) is a non-profit public corporation that was established on July 31, 2008, according to Section 25 of the Companies Act, 1956. The NSDC body is run on a PPP model, with the share divided between the private and public sectors.

The PPP model refers to the public-private partnership model. The Indian government owns 49 per cent of the NSDC’s stock, while the private sector controls 51 per cent of the total share.

What is the National Skill Development Corporation?

The finance ministry of India took the initiative to set up the National Skill Development Corporation. The National Skills Development Corporation (NSDC) aims to promote people's skill development by supporting the growth of enormous and greater training institutions providing vocational courses.

National Skill Development Corporation History

The finance ministry founded the National Skill Development Corporation in 2008 to leverage the vocational training institutions for the betterment of their infrastructure to boost the process of skill development. NSDC has managed to upskill approximately 5.2 million learners over the years. It also established 235 corporate partnerships and 38 Sector Skill Councils (SSC) across the business industries.

Facts About the National Skill Development Corporation

The three major pillars that contribute to the overall function of the National Skill Development Corporation include creating, enabling, and funding. 

• Creating: Active participation in the development of big and top-notch quality vocational training centres. 
• Enabling: Building the infrastructure to educate and upskill people to achieve sustainable goals of skill development.
• Funding: Providing subsidies and capital to help the training centres deal with financial crises and risks. 

The National Skill Development Corporation has also collaborated with different sectors, including private, central ministries, state governments, international bodies, and NGOs, to evolve and upgrade their network and forge a better future for the learners. 

• Private partnerships have been established to deal with different areas, including capacity expansion, awareness-raising, lending, job creation, etc. 
• NSDC has also collaborated with different programmes of the central ministries, including Pradhan Mantri Jan Dhan Yojana, Swachh Bharat, Make in India, Namami Ganga, Digital India, and Smart City. 
• NSDC has established international engagement to help learners acquire sustainable goals in the dimensions of technical service, investments, foreign jobs, and multinational standards. 
• NSDC partners with NGOs to develop the power and ability of backward people in the weaker society and also implement income-generating programmes to encourage entrepreneurship and self-employment among people.

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National Skill Development Corporation Significance

The National Skill Development Corporation has a significant role in upgrading the country's socio-economic value as it prioritises activities that have a breakthrough or amplification effect rather than those that have a one-time benefit.

The NSDC initiatives are capable of working as market makers. They have the potential to attract funding to every sector, even the ones that cannot flourish because of the scarce market mechanisms. 

The National Skill Development Corporation has been working successfully in the country, accelerating job creation among young people, especially those who belong to the weaker section of society. The goal of NSDC is to train at least 150 million people by 2022.

FAQs on National Skill Development Corporation

Q.1. What is the objective of establishing the National Skill Development Corporation?

The National Skills Development Corporation (NSDC) strives to encourage the skill development of people by assisting in the emergence of extensive, high-quality vocational institutions. Furthermore, the organisation invests in the development of prosperous and booming vocational apprenticeship agendas. 

Q.2. Which ministry is responsible for overseeing the functions of the National Skill Development Corporation?

The Ministry of Skill Development and Entrepreneurship, which is a part of the Government of India, is responsible for overseeing the functions of the National Skill Development Corporation. 

Q.3. Who is the CEO of the National Skill Development Corporation?

Manish Kumar is the CEO of the National Skill Development Corporation. 

Q.4. Where is the headquarters of the National Skill Development Corporation located?

The headquarters of the National Skill Development Corporation is located in New Delhi. 

Q.5. Is the National Skill Development Corporation certificate useful abroad?

Yes, the National Skill Development Corporation certificate has gained global recognition.