NSDC inks MoU with McKinsey’s affiliate Generation India Foundation to bolster Skill India Mission
Adding impetus to its endeavours to provide world-class skill training to the Indian youth, National Skill Development Corporation (NSDC), has signed a memorandum of understanding with Generation India Foundation (Generation), a non-profit organisation founded by McKinsey & Company.
The collaboration, a non-commercial pilot project, includes training, placement and tracking of upto 5,000 candidates by Generation, supported by NSDC’s robust network of training partners. The trainings would be funded through Pradhan Mantri Kaushal Vikas Yojana (PMKVY), under the Skill India Mission. The scope of association contains the application of Generation’s methodology to help improve the outcomes in PMKVY scheme specifically, placement rates and retention rates of its programs in select roles.
With a focus to reach out to unemployed youth, aged between 18-29 years, and skill them through short-term training programs, the project targets job roles such as Home Nursing Aides, General Duty Assistants and F&B Stewards. These entry-level professions, with a potential for structured career paths, are chosen to cater to challenges such as low skills and high attrition rate amongst the youth. NSDC will ensure a successful rollout of the National Skills Qualifications Framework (NSQF) compliant skills training.
Announcing the collaboration, Jayant Krishna, ED & COO, NSDC said “With McKinsey’s expertise in research methodology, we believe that the project would help in mapping the skill gaps and deliver impactful solutions. We aim to harness the huge potential of the youth in the country and add momentum to our consistent endeavours to strengthen the skilling value chain.”
On this occasion, Dr. Mona Mourshed, President and Global COO, Generation Initiative said, “We are proud to be partnering with NSDC to raise employment with impactful outcomes, and the personal and financial well-being of learners.”
Abhishek Gupta, COO, Generation India Foundation expressed, “We are committed to support job intensive skill training to Indian youth. We are delighted to collaborate with NSDC to support Skill India initiative and to contribute to this nation development exercise.”
Founded in 2014, Generation has been working towards recognising key challenges across the skilling value chain and implementing innovative solutions to tackle them. The Generation methodology has been developed from research on 150 employment programs in 25 countries, and surveys of over 15,000 employers across different industries. Generation has introduced disruptive innovations such as Integrated curriculum (with technical skills-mindsets-behaviours) in line with industry requirements created based on extensive skills-mapping exercise; targeted mobilization strategy and screening criteria to source the right candidates.