Vocational education has emerged as one of the top priorities for education departments in many countries, India being no exception. The Government of India seeks to meet the skilled manpower requirement of the world’s second-fastest growing economy, with PM Manmohan Singh setting a target of training 500 million people by 2022. The central government has already allocated Rs.2,500 crore to the National Skill Development Fund (NSDF) since 2009-10.
According to a July 2011 report by Kotak Securities Ltd. vocational training in India is a $20 billion business opportunity per year and around 475 million people will need training by fiscal 2022, it said. Recognizing the need to bridge the skill gap in the country, Sanjeev Mansotra, Chairman and CEO, CORE Education and Technologies Ltd.believes India needs an additional 140 million skilled workers across segments and as an end-to-end service provider CORE Education would like to focus more on vocational training. A leading entity in this sphere, CORE is set to invest approx. Rs.225 crore in a chain of vocational institutes across India, to train close to three million people over the next five years. CORE has not ruled out a possible tie-up with NSDC (National Skill Development Center), and even a loan accrual from the agency. Should it succeed, the company has to assure at least 80% placement for its students. With its world-class vocational training institutes, CORE Education is setting a benchmark in skill development. The aim is to offer skill-specific training that will help students find excellent job opportunities in the global workplace.
CORE Education partners with the local government to deliver this world-class training to the students. The government’s role includes identifying and allocating land, helping in accreditations and regulatory compliance, subsidizing fees, ensuring candidates are available for training and providing subsidies and tax exemptions for utility expenses and operating costs
CORE Education may not adopt the franchise model for its educational institutes. It instead plans to set up 150 “company owned centers” across the country. The company is looking at Construction, Automobile, Healthcare, Retail, Hospitality, Information Technology (IT) and IT enabled services as key areas.
About:Nations can transform, only when their education systems transform. CORE Education seeks to achieve this by revolutionizing the key building blocks of education, namely –
Teaching, Learning, Assessment & Governance.
CORE Education & Technologies Ltd. seeks to achieve this by providing solutions across the continuum of education - K-12 Education, Higher Education and Employability Education to governments, schools and educational institutions, across the world. Solutions offered by CORE revolutionise the key building blocks of education -Teaching, Learning, Assessment & Governance.