NSDC signs MoU with McKinsey's affiliate

Adding impetus to its endeavors to provide world-class skill training to the Indian youth, National Skill Development Corporation (NSDC), on Thursday signed a memorandum of understanding (MoU) 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.

"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 endeavors to strengthen the skilling value chain," said ED and COO, NSDC, Jayant Krishna.

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.

Further, NSDC will ensure a successful rollout of the National Skills Qualifications Framework (NSQF) compliant skills training.

"We are proud to be partnering with NSDC to raise employment with impactful outcomes, and the personal and financial well-being of learners," said President and Global COO, Generation Initiative, Dr. Mona Mourshed.

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.