Avanse Financial Services, an Indian technologically advanced education-focused NBFC, partnered with the National Skill Development Corporation (NSDC) to provide easy, fast, and affordable financing solutions for the youth of the country interested in fulfilling their skilling requirements. This collaboration is a progressive step towards catering to the growing need for a skilled workforce in the country across various sectors by assisting the aspirants in acquiring the required skills with the help of customised financing solutions.
Skill-based education or vocational training is extremely crucial as employers expect potential employees to have practical skills and the required expertise along with academic degrees. Technical and Vocational Education & Training (TVET) enables people to acquire the necessary skills, which makes them job-ready and thus, positively impacts the economy in the long-run. This unique partnership will assist Avanse Financial Services in creating an empowered workforce in India with the help of the institutions affiliated with NSDC through a result-oriented framework that corresponds with the need of the industry.
On the commencement of this collaboration, Amit Gainda, MD and CEO, Avanse Financial Services said, “Skill development is extremely crucial, as it can contribute to structural transformation and economic growth by enhancing employability and labour productivity. India is one of the youngest countries in the world, with more than 62 per cent of the population in the working-age group and more than 54 per cent of the total population below 25 years of age. This creates a large pool of human resources with high-untapped potential for development.”
He further said, “We are delighted to partner with NSDC as it will give us an impeccable opportunity to strengthen our purpose of democratising education and education financing in India. This will enable us to contribute towards developing a ‘skilled India’, a nation with a future-ready young population geared up to reach the zenith of success. We believe this partnership will enable us to amplify our reach and thus, fulfil our mission of making education financing seamless, affordable and accessible for every deserving Indian student.”
Ved Mani Tiwari, COO and Officiating CEO, NSDC stated, “Access to finance is critical for democratisation of education and skills. Partnerships with NBFCs like Avanse Financial Services help NSDC move one step closer towards its core purpose, ‘Skills4All, Anytime, Anywhere’, as it helps achieve financial inclusion of those sections of our society who otherwise can’t imagine acquiring skills for new age employment/entrepreneurship opportunities in India or overseas.”