Mission to build entrepreneurial network

Yamini S Verma, TFW Bureau
Yamini S Verma, TFW Bureau Sep 29 2017 - 4 min read
Mission to build entrepreneurial network
Last year, Prime Minister Narendra Modi formally unveiled the National Policy for Skill development and Entrepreneurship 2015 and held the first 'World Skills Day' on July 15, 2015. Read on to know the mission and reason behind this initiative.

Aiming at transforming the skill landscape in India, the government is taking several initiatives to bridge the gap of skilled manpower across sectors. Government of India along with National Skill Development Corporation (NSDC) is creating viable space for vocational training and job opportunities for youngpreneurs. In fact, India has signed 13 MoUs with 12 Canadian Educational Institutions, including nine colleges to offer vocational training.

Therefore, to adhere with the cause behind this initiative, several educational and vocational training brands are tying up with NSDC. These brands are not only helping in building the skilled India but opening avenues for the investors who are getting associated via the franchise route.

“We fulfill the motive of 'building a skilled India' through our industry relevant latest course curriculum. The importance of skills in the fields of IT, hardware and networking, animation, hospitality and tourism, banking and finance, and beauty & wellness is long established. Aptech is present in all of these verticals across the world. A substantial number of students also go ahead and become entrepreneurs-hiring more and contributing immensely to the growth and development of the country by providing direct employment, says Shrutidhar Paliwal, Vice President, Corporate Communication & Media Relations, Aptech

Aptech was conceptualied in 1986 with an aim to create skilled technology professionals who could take India to the tech/information highway. “Last thirty years have been a fulfilling journey as the brand progressed to fields in IT through Aptech IT, animation & multimedia through Arena and MAAC, Language skills through Aptech English, Aviation & Hospitality, Hardware & Networking, Banking & Finance, and more recently in Beauty & Wellness with an association with Lakme. We have trained over seven million students across 43 countries and continue to be on an expansion drive by following the multi geography multi brand approach,” he adds.

Role of NSDC

NSDC is one platform for the amateur and aspiring entrepreneurs that provides skill development funding either as loans or equity, and supports financial incentives to select private sector initiatives for improved financial viability through tax breaks etc. The tie ups of vocational institutes with NSDC helps in standardisation of content, proves instrumental in earning recognition & awareness for the brand and helps to build an eco-system that all stakeholders can benefit from.

Special funds and subsidies

Govt. of India offers special funds and subsidies for franchisees of vocational brands. Start-ups can claim IT exemption for any three years in their first five years while opening & closing of companies can now take place within 30 days instead of the earlier 90 days.

Enhancing via franchise route

It is the best route to skill India as the franchise brings local expertise and franchisor brings best practices and a business model. However, it is imperative that the model is made keeping in mind a strong support structure.

Avinash Bharwani, Vice-President,JetkingInfotrain Limited says: “India has youth as 50% of its population and in order for the IT industry to grow, we need to fulfill the requirement of more than 10 lakh skilled people per month. Being the largest training company in the IT & IMS domain, we are able to skill 25,000 students and place them in the industry.” Jetking Infotrain Ltd. is a BSE listed company Headquartered in Mumbai, providing top quality recruits for the talent starved IT companies across India. A pioneer in the pool of skill development, Jetking is an established name in the market with 90 successful franchises up and running in India alone with forays into the international markets as well. Jetking has trained 7,00,000 students so far and plans to triple that number by 2020 as per their tie up with NSDC.

NIIT is also a big time vocational training player supporting the ‘Skill India’ movement with its ‘NIIT Yuva Jyoti Skill Development Centres’ in partnership with NSDC. The brand envisions ‘To transform millions of unskilled Indian youth into readily employable global professionals, through NIIT’s Yuva Jyoti Skill Development Centres.’

Fact file

  • In 2011 itself, a study conducted by FICCI-PwC had projected that the Indian Wellness Services industry will face a likely shortage of 600,000 skilled personnel by 2016.
  • The same FICCI-PwC report had forecast that the number of people employed in the Wellness space could potentially almost treble from over 1 million in 2011 to 3 million by 2015.
  • Earlier, a separate Skill Gap study conducted by IMaCS - the consulting arm of domestic credit rating agency ICRA - on behalf of the National Skill Development Corporation (NSDC) had projected a likely shortage of 545,000 beauticians alone by 2022.
  • Skill Development and Entrepreneurship Ministry is further boosting up the franchising industry as the franchisees will also get more opportunities to align with these vocational training brands.
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