News: Rise India gets Rs 14 crore funding from NSDC


Rise India gets Rs 14 crore funding from NSDC

Targets to train 2.5 lakh people across the country in 7 years
Rise India gets Rs 14 crore funding from NSDC

Rise India, a Strategic Investment firm contributing to Skill Development & Education across India, has received funding support of Rs 14 crore in form of loan from National Skill Development Corporation (NSDC), a public-private partnership under the Ministry of Skill Development & Entrepreneurship (MSDE). According to the agreement, Rise India is now an affiliated training partner of NSDC and has been allocated this fund to focus on setting up Driver Training Institutes across the country, with a target of training 2.5 lakh youth over the next 7 years.

Rajiv Pratap Rudy, Minister of State for Skill Development & Entrepreneurship, GOI said, “We need commitments from corporate to help SkillIndia reach to the rural and economically underprivileged people of our country. We need more partners like Rise India to come forward and help us empower the youth through education, training, skill and entrepreneurship development. This is certainly going to be a good example of a public private partnership for many.”

Rise India, through its own equity funding will contribute an additional Rs 4 Crore to make it total outlay of Rs 18 crore, which will be invested in capacity creation over the next 18 months.

Ajay Chhangani, CEO, Rise India said, “This alliance is an important milestone for RISE INDIA and a recognition of our continuous efforts and diligent approach to provide effective skill training to youth in the country.” He added, “Our partnership with NSDC will take our journey forward to a next level, where we will multiply the existing number of skill centres, and contribute to the Skill India Mission.”

Rise India Skill Solutions currently has 14 centres which are operational. Additionally, 28 new centres are being proposed to be opened under the agreed project. 61 locations have been identified of which 28 will be selected for setting up of these centres. The locations are across NCR, Uttar Pradesh, Rajasthan, Maharashtra, Karnataka, Andhra Pradesh, Tamil Nadu, Kerala, Madhya Pradesh, Odisha, Jharkhand and Bihar. These training will be done in Light Motor Vehicles, Heavy Motor Vehicles and Heavy earth moving equipment like backhoe loaders, cranes and mixtures which are often used in infrastructure development.

Manish Kumar, CEO, NSDC said, “Skill India needs the right kind of partnerships which have the last mile reach and help in filling the skill gap across sectors and geographies. We see huge potential in our partner Rise India and are certain that together this will bring about great impact along with some great opportunities for the youth of India especially for those who want to be a part of the automotive industry under this project.”

So far, the Rise India has accomplished skill training of nearly 1 lakh candidates across India, with a presence in over 10 states, 85 Skill development centres and smart classes in over 100 school campuses. Rise India has also established the largest “only women” residential training centre at Jaipur, with a capacity of 400 students.

Through its ventures, Rise India has succeeded in the training and placement of students in sectors such as retail, IT, BSFI, construction, driving, and renewable energy. Since its incorporation in 2012, RISE INDIA has witnessed an escalated growth with employee strength of over 300 and a PAN India presence, distinguishing itself from its contemporaries.


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Topics: Skilling

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