Business News | NSDC's Skill Impact Bond Trained More Than 29,000 First-time Job Seekers Across 24 States
Get latest articles and stories on Business at LatestLY. The Skill Impact Bond, launched by the National Skill Development Corporation (NSDC) has trained more than 29,000 first-time job seekers across 18 sectors in 24 states and union territories.
New Delhi [India], October 9 (ANI): The Skill Impact Bond, launched by the National Skill Development Corporation (NSDC), has trained over 29,000 first-time job seekers across 18 sectors in 24 states and union territories, the NSDC announced in a statement on Wednesday.
According to the statement, 73 per cent of those trained under the Skill Impact Bond have joined the workforce. The programme successfully trained 74 per cent women, ensuring their retention in the workforce.
This initiative aims to equip 50,000 young Indians, with women accounting for 60 per cent of the reach, by bridging the gap between skilling and employment.
Independent verification of the programme revealed that 70 per cent of enrolled women and 81 per cent of enrolled men secured jobs following their training.
Job retention also showed promising outcomes, with 56 per cent of women and 62 per cent of men remaining in their jobs for at least three months, according to the statement.
Furthermore, among those placed in jobs, 40 per cent of women and 66 per cent of men continued working for six out of twelve months. Notably, job retention rates for women have improved significantly, rising from 48 per cent in the first cohort to 61 per cent in the third.
Commenting on the success of the programme, Atul Kumar Tiwari, Secretary, Ministry of Skill Development and Entrepreneurship, said, "The Skill Impact Bond exemplifies this vision, having already trained nearly 29,000 first-time job seekers from low-income families across 24 states and union territories. It reflects true social responsibility by shifting focus from short-term inputs to long-lasting impact. With SIB 2.0, we aim to raise the bar, aligning with the Prime Minister's vision of a future-ready, inclusive workforce that will propel India towards global leadership."
With a budget of USD 14.4 million, the Skill Impact Bond is designed to achieve measurable outcomes linked to job placement and retention.
This innovative financial model ensures accountability and effective use of resources aimed at enhancing employment opportunities for youth, particularly women. The Skill Impact Bond was launched by the National Skill Development Corporation (NSDC) in 2021.
Ved Mani Tiwari, COO (Acting CEO) of NSDC and MD of NSDC International, said, "By leveraging digitalisation and AI-driven innovations in healthcare, education, and beyond, SIB aligns with India's USD 35 trillion economic vision for 2047, building a future-ready workforce and fuelling a more inclusive start-up ecosystem." (ANI)
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