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World Bank gives $250 million for skill development in India
HRKatha News Bureau | Bangalore | Tuesday, 27 June 2017

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According to estimates, in six years, at least 8.8 million youth will be trained and have relevant skills for decent employment opportunities.

In a mission to bridge the skill gap in India, the World Bank has approved a loan of USD 250 million under Skill India Mission Operation (SIMO). The aim is to train and re-skill the Indian youth, so that they become employable.

This help from the multi-lateral lender will act as a catalyst and booster to the already running Skill India Mission by the Indian government.

The bank said in a release, "The USD 250-million Skill India Mission Operation (SIMO), approved by the World Bank board of executive directors, will increase the market relevance of short-term skill development programmes (3-12 months or up to 600 hours) at the national and state level."

Skill India Mission Operation (SIMO) is a six year programme that will support the Indian government’s National Policy for Skill Development and Entrepreneurship (2017-23). It will be implemented through the National Skill Development Mission.

The programme’s main target is the entrant in the labour market. Adults entering the labour market in the age group of 15-59 years, whether they are unemployed or underemployed, will be trained under this programme. This includes 1.2 crore youngsters entering the labour market.

The programme has a special mandate for women, where they will be provided with placement and entrepreneurship opportunities, besides being given more exposure in skill training.

Junaid Ahmad, World Bank country director in India, said, "This programme will support the government's vision of investing in the human capital of India's youth, enable greater off-farm employment and increase women's participation in the labour market."

By 2022, India will be required to add 109 million more skilled workers in 24 key sectors, as per an official estimate.

Going by this SIMO programme, the bank estimates that in six years, at least 8.8 million youth will be trained and have relevant skills for decent employment opportunities and increased earnings. Around 15,000 trainers and 3,000 assessors will also get benefited.

© 2016 HR Katha

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