As per the report from NAASCOM (National Association of Software and Services Companies) every year nearly three million fresh graduates are coming out from colleges to search jobs in Indian Inc. Among these nearly 25% of technical graduates and 10% to 15% of other graduates are considered employable by the IT and ITES segments. But many industries have been suffering from skill gap and not able to find the right match with their requirements. Many industries like telecom, manufacturing, retail and other facing skill gap. To solve this issue the National Skill Development Corporation (NSDC) was set up by Prime Minister Manmohan Singh in the year 2008 and NSDC works with partnering companies and institutions to develop training modules for employees across sectors. This is the reason Chidambaram to transfer Rs. 1,000 crore for the year 2014- 2015 towards the NSD (National Skill Development) Trust has been lauded by corporate and training partners alike.
Main focus on training: This straining will be developed through NSDC partner firms and through NSDC. CS Raghavan, head, education India, ACCA says, NSDC has sector skill councils under its banner which help different sectors spell out their requirement in the next five years. So, while businesses can focus their attention on strategic planning, the skill requirements can be met by the various partners of NSDC and other organizations. Similarly, this can be developed and implemented at the school and college level to make students industry-ready. Many corporate companies of India have been recognized the need of skill development and introducing the skill development programs to improve the quality of manpower. Many companies have been feeling that finance minister’s skill development fund will help companies to scale up the technical skills.
High skilled workforce: Government’s move will definitely help companies in creating the talented workforce. British council released a stamen and says that the Indian and UK governments have helped foster partnerships between training providers, assessment bodies and Sector Skills Councils through the UK India Education and Research Initiative (UKIERI), a programme managed by the British Council on behalf of other governments. Till date 56 skill travel grants, 44 institutional capacity-building partnerships and 11 sector skill collaborations has been released and UK also working closely on different types of learning and development programmes in corporate workplaces, and plans are on the anvil to scale up and expand these programmes as more funding would be available.