A Memorandum of Understanding (MoU) has been signed between the Ministry of Skill Development and Entrepreneurship (MSDE), the National Skill Development Corporation (NSDC), and a US based NGO, Wadhwani Operating Foundation (WOF).
The main purpose of this MoU would be to facilitate and support skill development initiatives in the country through multi-skill institutes and skill universities. Overall, all three would work for promotion and creation of an eco-system for skill development in India.
According to sources, Wadhwani Operating Foundation would contribute $30 million to $40 Million in 3 years to promote mutually-agreed skill and entrepreneurship development initiatives. Moreover, the MSDE would provide support to integrate skill development initiatives in schools and institutions of higher education. This would be done in a more organised and structured manner by pooling resources and setting up the required number of state programme management units.