Government appoints AM Naik as Chairman of National Skill Development Corporation
Shri AM Naik has been appointed as Chairman of National Skill Development Corporation (NSDC) by the Ministry of Skill Development and Entrepreneurship. He is currently Group Chairman of engineering conglomerate Larsen and Toubro (L&T). He was awarded Padma Bhushan, India’s 3rd highest civilian award in 2009 for his outstanding contribution to economic growth of the country.The appointment of Mr. Naik as Chairman of NSDC underscores the importance attached by the Hon’ble Prime Minister of India Shri Narendra Modi to skill development. As the Prime Minister has repeatedly stressed ‘skilling brings a sense of self confidence to the poor. Matching job creation with industry demand is the key to end unemployment. It is envisaged that in the future, India will be the biggest supplier of workforce to the world.
National Skill Development Corporation (NSDC)
- NSDC is Public Private Partnership (PPP) under Ministry of Skill Development & Entrepreneurship (MSDE). It was founded in 2009 as not-for-profit company by Ministry of Finance to address need for providing skilled manpower across various industry sectors.
- Government of India (GoI) through MSDE holds 49% of share capital of NSDC, while private sector has balance 51% of the share capital. NSDC aims to promote skill development by catalyzing creation of large, quality and for-profit vocational institutions.
- Its objective is to create training capacity in the country; fund vocational training initiatives and create market ecosystem for skill development. Its mandate is to train 150 million people by 2022.
- It is also involved in re-skilling and also in catering to skilled manpower requirement of overseas markets, most notably that of Japan (under TITP) and UAE.