- National Skill Development Corporation is a not-for-profit public limited company incorporated in 2008.
- NSDC was set up by the Ministry of Finance as a Public Private Partnership (PPP) model. The Government of India through the Ministry of Skill Development & Entrepreneurship holds 49% of the share capital of NSDC, while the private sector has the balance 51% of the share capital.
- NSDC acts as a catalyst in skill development by providing funding to enterprises, companies and organizations that provide skill training.
- Its mandate is also to enable a support system which focuses on quality assurance, information systems and train the trainer academies either directly or through partnerships.
Why in News?
- National Skill Development Corporation and DP World, an Emirati multinational logistics company, signed a MoU to boost skill development.
- The UAE, hosting the largest population of Indian nationals outside of India, with approximately 3.5 million Indians constituting around 35% of the country’s total population, underscores the importance of skill development as a fundamental element of the India-UAE Strategic Partnership.