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Skills Development to Help Boost Start Up Industry

Thirumal Raj, Founder & CEO, STC Skills
Monday, September 26, 2016
Thirumal Raj, Founder & CEO, STC Skills
Headquartered in Chennai, STC provides a wide array of innovative workforce solutions. The corporate focused skill development entity provides industry specific skill development training and employability options for candidates across the country.

India's swelling population has been a hot button topic for quite a while now, as the country is at the cusp of becoming the world's most populous country. With the population estimated to touch 1.45 billion by 2028, the numbers are touted to surpass China very soon. Although managing the massive population base of the country, poses to be a major challenge, the good news is, this makes India home to the largest employable manpower base with more than 60 percent of its current population in the age group of 15-59 years. While the demographics are indicative of the tremendous supply of the working age population, the question that bothers India's business houses and the Government is that -Is this manpower really skilled to be employable?. In order to steer India towards higher economic growth, it has become imperative to utilize this demographic dividend through skill development and increasing employability.

In the recent years, while focusing on making India a breeding ground for startups, the Government identified Skill Development as key to the fulfillment of this aspiration. Taking swift steps towards the goal, the government created various frameworks, nodal bodies and public private partnerships focusing on skill development domain. With these initiatives, the Government of India has not only attracted domestic but also many foreign players in the skill development and training domain.

As a part of such endeavors, the Government's National Skill Development Corporation (NSDC) of India has also started partnering with many home grown vocational training companies to share the responsibility of skill development in the country. NSDC's association with STC Skills, a corporate focused skill-development company, is one of the most recent alliances, in alignment to the afore-mentioned government strategy.

Likewise, there are many foreign players venturing into India for skills development. Heraud Training and Education India Pvt Ltd, is one such example. It is an Australia based registered training organization that undertakes consulting engagements in the skill development sector. The company initially invested approximately AU$ 100,000 in India and in the year 2014, it raised AU$ 0.5 million.


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