Skill Financing In India

September 2023 | Skill Development

India's dynamic skilling ecosystem has evolved significantly in recent years, driven by the recognition of Technical and Vocational Education and Training (TVET) as a crucial factor for economic development and workforce integration. This evolution has been catalysed by the establishment of the National Skill Development Corporation (NSDC) in 2008, followed by the creation of the Ministry of Skill Development and Entrepreneurship (MSDE) and the launch of flagship schemes like Pradhan Mantri Kaushal Vikas Yojana (PMKVY) and Skill India Mission in 2015.

India has set ambitious goals, aiming to become a USD 5 trillion economy by 2024. To support this vision, there is a growing need for a skilled workforce across key sectors, including agriculture, construction, trade, hotels, manufacturing, and emerging industries.

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