MSDE Signs MoU with the World Economic Forum

The Ministry of Skill Development and Entrepreneurship (MSDE) has signed a Memorandum of Understanding (MoU) with the World Economic Forum (WEF) to strengthen India’s skills and Technical and Vocational Education and Training (TVET) ecosystem, covering skill centres, Industrial Training Institutes (ITIs) and polytechnics that deliver practical, job-oriented skills.

About the Memorandum of Understanding (MoU)

• Objective 
• • Deepening Multilateral Cooperation: The MoU aims to strengthen collaboration in skill development, vocational education, and workforce preparedness, aligning India’s skilling initiatives with global labour market needs.
  • Future-Ready Workforce: It seeks to position India as a global hub for skills, talent, and innovation, contributing to inclusive and resilient economic growth
• Launch of Skills Accelerator: MSDE and WEF will jointly launch a Skills Accelerator

About Skills Accelerator Initiative

• Nature of Platform: It is a multi-stakeholder platform designed to identify, scale, and accelerate innovative skilling solutions and public–private partnerships.
• Focus Areas: The Accelerator will ensure closer alignment between skilling initiatives, industry demand, and the global economy, strengthening the TVET ecosystem.
  • Emerging Domains: Special emphasis on artificial intelligence, green energy, robotics, and advanced
• Governance and Implementation Framework:
  • Oversight Mechanism: Implementation will be guided by a governance framework with Co-Chairs from government and the private sector, in collaboration with WEF.
  • Role of MSDE: MSDE will set strategic direction, coordinate stakeholder engagement, and lead monitoring and impact assessment of the Accelerator.
• Vision @2047 and NEP 2020: The initiative aligns with Vision @2047 and the National Education Policy (NEP) 2020, promoting lifelong learning, upskilling, and reskilling.
• Stakeholder Engagement: MSDE will work closely with higher education institutions, vocational training institutions, and regulators such as AICTE and UGC to support awareness, implementation, and scaling of the Accelerator.
• Priority Sectors: The Skills Accelerator will focus on Future of Work domains including artificial intelligence, robotics, green energy, cybersecurity, and advanced manufacturing.
• Innovation-Led Activities: Activities such as hackathons, innovation challenges, and a structured Action Plan will support experimentation and adoption of new skilling models.
• International Labour Market Alignment: The initiative will identify emerging global demand and supply trends across trades and job roles to enhance international employability of Indian talent.
• Innovative Financing: It will support innovative financing mechanisms for skilling and improve coordination among government, industry, and global partners.
• Whole-of-Government Approach: The MoU reflects coordination among MSDE, the Ministry of External Affairs, and the Ministry of Education, strengthening India’s global skilling and vocational education agend

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Steps Taken by the Government to Promote Skill Development and Entrepreneurship

• Skill India Mission (SIM): Umbrella Framework:
  • Under this Mission, the Government aims to equip youth with future-ready and industry-relevant skills. 
  • The Mission is implemented by the Ministry of Skill Development and Entrepreneurship (MSDE) through a nationwide network of skill development centres, institutes, and training partners to deliver skill, re-skill, and up-skill training across all sections of society.
• Pradhan Mantri Kaushal Vikas Yojana (PMKVY):
  • PMKVY focuses on Short-Term Training (STT) and Recognition of Prior Learning (RPL) to certify and upgrade the skills of youth, including those in rural and underserved areas. 
  • The scheme supports upskilling and reskilling of the workforce to enhance employability and productivity.
• Jan Shikshan Sansthan (JSS):
  • The Scheme aims to provide vocational skills to non-literates, neo-literates, school dropouts (up to Class XII), and individuals with rudimentary education in the 15–45 age group, with age relaxation for Divyangjan. 
  • The scheme prioritises women, SCs, STs, OBCs, and minorities, particularly in rural and urban low-income areas, thereby promoting inclusive development.
• National Apprenticeship Promotion Scheme (NAPS):
  • This scheme seeks to promote apprenticeship training by incentivising establishments to engage apprentices under the Apprentices Act, 1961. 
  • The scheme provides financial support to employers and combines basic training with on-the-job practical training, strengthening industry-academia linkages.
• Craftsmen Training Scheme (CTS): 
  • The CTS delivers long-term vocational training through a network of Industrial Training Institutes (ITIs) across diverse economic sectors. 
  • The scheme aims to create a skilled workforce for industry while also promoting self-employment and entrepreneurship among youth.

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