Social and Impact
NSDC schemes and tech-led innovations to enhance professional journey of individuals
28 Dec 2021
New-age startups disrupted
traditional learning methodologies through tech, enabling new hybrid learning
for students, teachers, and real-time assessments in schools, colleges, and
universities. Educational institutes, boards and startup incubators are supporting
digital learning and entrepreneurship abilities in young professionals who want
to make the most of their careers. Digital learning, skill
development & training platforms, and career counselling businesses are
gaining traction as major facilitators in the ecosystem for skilling and
entrepreneurial coaching. They're scaling their business models by focusing on
the needs of their target groups and, identifying new skills and competencies
to meet market demands. E-learning technologies are enabling youngsters with
opportunities to improve their capabilities, develop entrepreneurship skills
and mindset and engage more professionally with their employers. We discuss the
three important aspects enabling rural livelihood opportunities below.
National Skill Development
Corporation (NSDC) is a not-for-profit public limited company that aims
to catalyze skill development for the workforce in India through a chain
of partners. NSDC has trained more than 20 lac candidates and has over 10,000
training centers across the country. NSDC has rolled out
various schemes to enable skilling in the country.
Rozgar Mela conducting entity and
candidates registered and shortlisted till February ’20
Employment demand has rebounded to pre-covid levels. Sectors
like logistics, Ecommerce, FMCG, retail, apparel, healthcare, IT/ITeS, BFSI are
augmenting their manpower to serve the reviving demand. Tech platforms are
disrupting various sectors to provide training, jobs, and other financial support
to increase employability and match the industry’s demand for a skilled
workforce. Technology and new niche platforms have segmented their offerings
into hiring, managing, skilling, and workforce engagement and cater to several
sectors. These platforms have enabled opportunities across sectors to allow the
workforce to grab employment opportunities locally in their home towns without
them moving to urban cities. Recruiters can source and hire candidates at a
much lower cost compared to traditional models. Companies see distinct and
significant value in outsourcing staffing and assisted hiring processes.
Startups are driving higher productivity at lower cost through the use of AI,
ML, chatbots offered by new niche tech platforms. 90 million jobs in the gig economy
are expected to empower the lifestyles of individuals in the above sectors.
While enabling livelihoods, various platforms and ecosystem
players offer different modes of engagement across the value chain in verticals
and sectors. These include services across education, employment, and
entrepreneurship as specific offerings or combinations of services for the
target individuals, group segment.
Role of the financial sector
Corporate venture capitals, CSR funds, and incubators
provide access to capital through various models of impact investing, social
impact bonds, etc. These models establish constructive social and environmental
change with high financial returns which encourages innovation and
sustainability. Microfinance, agriculture, health care, education, and
infrastructure are the key focus areas.
Impact investing prioritizes funding to NGOs/ implementing
agencies that can deliver and measure outcomes. Governments and corporates
invest in programs that guarantee impact and tangible outcomes for society at
Impact investors have a crucial role in making Atmanirbhar
Bharat a successful initiative. This will help to create much needed momentum
for the social infra programs and their progress. Focus on tech-led innovation
and investments will play a crucial role to boost skilling, entrepreneurship,
and thus employability and livelihood across several sectors. With surge in
demand and expectations of evolving verticals and mature sectors, there are
ample opportunities for aspiring individuals both in urban and rural areas.
Lokesh Bohra, Senior Vice President, Social and Impact Advisory Practice
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