It is our pleasure to address 23 rd Annual General Meeting of Virtual Global EducationLimited (Virtual). We at "Virtual" Anytime Anyway targets to Educate and train100 million youth by 2020.
It gives me immense pleasure to share with you that budget this year on education hasshown favorable symptoms for education sector. For the year 2016-2017 the Government ofIndia is taking major initiative by making some provisions in union budget for educationsector. The Government has allocated Rs 1000 crore (US$ 146.72 million) for highereducation financing Rs 1700 crore (US$ 250 million) for 1500 multi-skill developmentcentres and has objective to skill one crore youth in the next three years under thePradhan Mantri Kaushal Vikas Yojna (PMKVY)
Your Board has decided to train in sectors like Telecom & BPO Solar EnergyRetail Banking & finance. Our unique feature is our Industry experience in thesedomains is more than a decade with a focus of developing entrepreneurship globally.
We have the targets to have our presence in rural India by connecting the 248254 grampanchayat through our Virtual E-Panchayat system. We have a 6P & 6E Model for everyGram Panchayat for maximum utilization of resources at local level for the benefit ofcommunity. We focus to create the employment as well as entrepreneurship opportunity forthe rural youth so that they can locally engage themselves.
To train the brain of unemployed youth at village level for growth in life with theinvolvement of local people we have launched the Virtual Rozgaar Programme at Jaipur(Rajasthan).
The Education plays a significant role in building a nation and creating hugeopportunities for the individuals. The growth of the Indian economy and rising incomelevels are factors boosting the investment in education and standard of living.
Financial year 2015-2016 has been a challenging year for your company as it has tocome-up with the right set of sectors to link with the Industry which provide requiredtraining to people. We have identified 15 sectors linking with the industry to providetraining so that they can get real time experience and practical exposure in the industry.Your Company has been successful in applying many skill development projects of StateGovernments and to start with has opened 92 centers in various districts of variousstates. Your company has been empanelled with CBSE as Skill Knowledge Provider in the I.T.Sector to provide training in CBSE affiliated schools in the state of Delhi Rajasthan andWest Bengal.
Internationally our action agenda focuses on vocational training and education indeveloped markets where there is a lack of skilled talent in areas like IT - throughpolicy initiatives technology platforms and school outreach activities and as a gate wayfor the same. With increased competition for jobs and the trend now being on continuouslearning more and more people are enhancing their educational qualifications online.Currently industries across verticals are adapting to e-learning in a big way and themarket is expected to grow. The advent of satellite technology and internet has changedthe way people live. Open education is fast growing to become the dominant form ofeducation for many reasons such as its efficiency reach and results compared totraditional methods. Cost of education has been an issue throughout history and a majorpolitical issue in most countries today. Open education is generally significantly cheaperthan traditional campus based learning and available anytime anyway even when you are onwork.
We have entered into a Memorandum of Understanding (MOU) with Malbro InternationalLimited Malawi to work together in the area of skill development for Agriculture Solarenergy and sales and distribution sectors to develop under privileged youth in respectivecountries to the extent of 20 million people.
The company has also entered into MOU with Ethiopian countries to provide skilldevelopment training in Ethiopia to 10 million youth. We have entered into MOU with Chinafor providing online vocational training and software development training.
I see substantial opportunities in front of us as a Company as an employee and as anindustry. There is fundamental shift accruing in every arena of this world a digitaltransformation that is bringing about an entirely new way for each of us in all walks oflife to work live and interact.
I thank for your continued support & trust placed in the Company. I look forward toyour support and encouragement for achieving newer heights in the coming years. I thankall the Virtual Partners team Board Members Bankers Employees and associates for theircontinued support.
Dr. Girraj Kishore Varshney
Chairman & Managing Director