Hyderabad, April 18: In a bid to capture the huge potential for the vocation training institutes in the country, Everonn Education Ltd, via its subsidiary entered in to a pact with National Skill Development Corporation.
Under the pact, Everonn SKILL development Ltd, the arm of Everonn Education will open skill development centre across the country and offer the vocation training to the potential candidates focusing on 21 key sectors. India is facing sever shortage of skilled manpower to work in various sectors.
NSDC, a quasi government body, working on skill development in the country aimed to train 150 mln people in nine sectors in next 12 years. Everonn’s aim is to train the 10% of the NSDC’s mandate, the company said in release today.
NSDC is a not-for-profit company set up by the Ministry of Finance as the first PPP initiative. This is part of the government’s overall target to train 500 million people by 2022 to meet the global skills shortage.
NSDC will invest Rs.14.15 crore, equal to 27% of equity in 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.. 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.
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