AP govt sets up Skill Development Corporation

Andhra Pradesh government today constituted the State Skill Development Corporation (APSSDC) on the lines of the National Skill Development Corporation to take the state on a "speedy path of development".
"Skills and knowledge are the driving forces of the economic growth and social development of any country. After bifurcation, the residuary state of Andhra Pradesh had to forfeit revenues, assets, several institutions and locational advantages," Principal Secretary to government (Higher Education) Nilam Sawhney said in an order issued constituting the APSSDC today.
Hence, the state government intends to take the state on a speedy path of development by taking up port-based development, improving air, rail and road connectivity to position the state as a logistics hub and leveraging the strong agriculture base to develop Information Technology clusters," she added.

APSSDC, set up under the Public-Private Partnership mode, would also give a fillip to gas-based industries and petro-chemical sector and tap the tourism potential of the state, she added.
APSSDC would be incorporated as a "not for profit" company under the Companies Act, 2013.
The AP government would hold 49 per cent share in the company while the NSDC and the industry would hold 51 per cent, Sawhney said in the order.
"As the state economy is set to transform, mature and diversify, significantly-different and specialist skill sets become inevitable. The urgency is felt more acutely as there is also a need to harness the demographic dividend in the state. The skill gap will need to be addressed through comprehensive efforts at various levels in order to cater to different needs of the society and the industry," the Principal Secretary pointed out.

Ghanta Subba Rao has been appointed as the first Managing Director and Chief Executive Officer of APSSDC while retired IAS officer K Lakshminarayana would be its director.