Everonn Education, NSDC in joint venture to train 15 mn by 2022

Whether it is hospitality, retail, engineering or construction, skilled employees are always in demand. In order to meet the growing demand for skilled people in every sector, the Central government's National Skill Development Corporation (NSDC) has entered into a joint venture (JV) with Everonn Education to set up skill development centers across the country.

These centers will focus on providing training in nine different streams of education.

"We have shortage of skilled people and setting up such centers will not only help curb unemployment but also meet the skills shortage," said Dilip Chenoy, managing director (MD) and chief executive officer (CEO), NSDC.

Keeping in mind the young India who wants to make it big as early as possible, such specialised courses always come as a boon. Students who want to opt for non-formal training, those seeking employment after short-term specialised courses, industrial workers seeking upskilling and unemployed youth seeking career at entry-level positions are some examples of those who can benefit from these courses.

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There will be 271 multi-skill development centers out of which nine will be functional soon. "Over the next three years we aim to reach around 12 states. Our main area of focus will be Tier II and Tier III locations," said Jayaraman TV, CEO, ESDL.

In India only around five per cent students have access to vocational training as compared to 60 per cent in the developed countries. Under this JV, skill development centers would focus on nine areas, including hospitality, engineering, retail, automobile and construction among others. The JV targets to train 15 million students by 2022.

While NSDC will hold 27 per cent equity in the JV, Everonn Skill Development Limited (ESDL), a wholly owned subsidiary of Chennai-based Everonn will hold 73 per cent stake.

A total of Rs 153.76 crore will be invested in the 271 centers. The NSDC will subscribe to 27 per cent equity in ESDL for Rs 14.15 crore. The NSDC will also provide a loan of Rs 101.34 crore to ESDL, while ESDL will invest Rs 38.27 crore.

"We will be investing around Rs 300 crore in the next two years. The courses offered will be short-term ones ranging from one month to six months and the minimum fee will be Rs 3,000 while the maximum will go up to Rs 27,000. The basic qualification for all the courses will vary according to the streams," said P. Kishore, MD, Everonn Education Limited.

Courtesy: Mail Today