Gujarat to set up Skill Development Corporation
With the help of the National Skills Development Corporation (NSDC), the state government will be setting up the Gujarat Skills Development Corporation (GSDC), where 10 private companies will also hold 51 per cent stake.
The NSDC in its board meeting on Friday gave the nod to setting up of such a corporation in Gujarat.
"According to a projection, there will be a requirement of more than 20 lakh skilled workforce in Gujarat by 2022. The setting up of GSDC will play a big role in making trained workforce available in Gujarat. Due to the national level Public Private Partnership (PPP) model, the private sector investment will also be enabled in this corporation, which will add pace to the existing skill development in the state," said Vipul Mitra, Additional Chief Secretary (ACS), labour and employment department, Gujarat.
According to the setup, the state government will have a quarter of the share in the corporation, while 24 per cent stakeholding will be that of NSDC. The remaining 51 per cent of the share will be held by 10 private companies in equal proportion. The seed fund required for the corporation is around Rs 100 crore. The state government has already provisioned Rs 30 crore in the budget 2020-21 for the purpose.
The corporation will be supporting and creating high quality skills training institutes in the state. It will also provide skill development to technical and financial assistance in state government's various agencies. The GSDC will create Gujarat specific innovation models and also facilitate sharing of best practices from other states as well as the central government.
"The NSDC will provide equity funding and also necessary support in hiring technology services, technical inputs, advisory services, financing services etc to the GSDC," added Mitra.
"Using its expertise and experience, the NSDC will also undertake capacity building in GSDC," added Mitra.
Once operational the GSDC will carry out activities such as skills financing, CSR lead skilling, capacity building, industry connect, market analytics, international collaboration knowledge and advisory services and NSQF courses, which are presently undertaken by the NSDC.
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