Chenoy quits Siam, to be CEO of NSDC

Dilip Chenoy has stepped down as director general of the Society of Indian Automobile Manufacturers (Siam), to join National Skill Development Corporation (NSDC) as its chief executive officer and managing director.

NSDC is a not-for-profit company set up by the Union government in a public-private partnership to instill marketable skills in 150 million people by 2012.

Chenoy was earlier with the Confederation of Indian Industry and was with Siam since March 2004. He would take charge of his new responsibilities on May 7.

“NSDC presents an enormous opportunity to transform the skill landscape of India and impact the livelihood of millions of people …I am excited about the opportunities and very mindful of the challenges the corporation might deal with,” he said, on his new role.

Eight industry associations, including Siam, have equity investment in the company, a 51:49 partnership between the private sector and the government. While the government has invested Rs 1,000 crore in the company, industry chambers have invested Rs 51 lakh each. The company, which assists in entrepreneurial endeavours to set up skill training centres, functions in 21 different sectors. It was announced by Finance Minister Pranab Mukherjee in his budget speech of 2008-09 and formally launched in October 2009. M V Subbiah is the chairman of NSDC.