Globsyn-NSDC sign skill development JV

Globsyn Group has signed a joint venture agreement with the National Skill Development Corporation (NSDC) for setting up a new company, Globsyn Skills, which will train 3.52 lakh youth in different vocations in the next 10 years.

The NSDC, which has been co-promoted by the Union Finance ministry will initially aim at establishing five centres in West Bengal for skill-related training in electronics and IT hardware and the organised retail sectors, NSDC's CEO and managing director Dilip Chenoy said here today.

He said that the bulk of trainees, estimated to be around 52 per cent, would be high school passouts. Graduates would account for the remaining 48 per cent.

Bikram Dasgupta chairman and CEO of city-based training and education major Globsyn said the company would hold 73 per cent equity in the JV through the Globsyn Skill Development Limited. NSDC would have a 27 per cent shareholding in the JV company.

The total cost of the Globsyn-NSDC project is likely to be around Rs 12.51 crore.

Chenoy told reporters that the NSDC, during next 10 years, would expect 35 partners with it to launch skill development projects in 639 districts all over the country.