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Reliance Communications has made full repayment of two loans amounting to $1 billion (around Rs 6,000 crore), during the quarter ended June 30.The repayments have been from the company's rupee resources.

Business News

A joint venture to train over two million in diverse skills

Wednesday - Dec 22, 2010, 11:27am (GMT+5.5)
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New Delhi - The state-run National Skills Development Corporation (NSDC) Tuesday said it has entered into a joint venture with the Empower Pragati Vocational and Staffing Private Limited to train more than two million people.

According to NSDC, the joint venture would be on a equity participation basis where it will have a 10 percent share and an option of another 16 percent.

"We have entered into an equity participation with them as we believe that through equity participation we will be in a better position to coordinate with them," NSDC managing director Dilip Chenoy told reporters at the 'The Indus Entrepreneurs' (TiE) summit here.

He also said there was an enormous need for well-trained manpower in various industrial verticals like energy, infrastructure and automobile in the near future.

"We are focusing on skill development in the informal sectors which would include training for domestic help and drivers, as there is an enormous need for well trained manpower," Chenoy said.

The unique public-private partnership (PPP) which is promoted by the finance ministry is focused on providing combination of training and placement services for manpower - thereby creating a long-term financially sustainable model.


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