IIM Indore Joins Forces With NSDC To Revolutionize Skill Development

Indore (Madhya Pradesh): In a stride towards advancing the landscape of skill development and entrepreneurship in India, Indian Institute of Management Indore has entered into a partnership with the National Skill Development Corporation (NSDC). The collaboration signifies a commitment to foster excellence and innovation in these critical domains.

The MoU, inked online on Wednesday, by IIM Indore director Prof Himanshu Rai and NSDC chief executive officer Ved Mani Tiwari is poised to redefine skill development, entrepreneurship and research in India, aligning the visions of both institutions and leveraging their collective prowess to shape the nation's skilling eco-system.

IIM Indore's vision is not just limited to academic excellence; it is about elevating livelihood opportunities and income levels for families and households across the nation.

Rai emphasised that this collaboration is set to create a unique social impact model backed by pioneering projects that employ innovative approaches. ‘These initiatives will provide professional support to underserved regions, communities, individuals and micro, small and medium enterprises (MSMEs), thereby nurturing a skilled ecosystem primed for market success. A cornerstone of this transformative MoU is its focus on robust research endeavours,’ he said. ‘We will embark on joint research activities, encompassing surveys and qualitative research methods, to gain profound insights into industry dynamics and stakeholder needs,’ he added.

This synergy will identify industry trends, bridge gaps, and gather invaluable data to guide strategic decision-making. Furthermore, the partnership emphasises nurturing social and rural entrepreneurship, exemplified by establishing a social/rural entrepreneurship incubator.

This incubator aims to expand access to affordable credit, focusing on skill-based credit scoring for nano-entrepreneurs. ‘We will design dynamic skilling programmes tailored to market demand, while mentorship and incubation support systems will be extended to social enterprises, cooperatives, and SMEs’, Prof Rai said. This will give an additional opportunity for IIM Indore students to participate in social internships, actively engaging in rural marketing, SHG-Cooperatives promotion and catalysing social change.

Tiwari shared his delight in this partnership, highlighting the plan to publicise success stories of grassroots innovators and social entrepreneurs. ‘The goal is to inspire others and attract support from investors and partners, ultimately creating a sustainable ecosystem that nurtures grassroots innovations and social entrepreneurship, leading to positive societal and economic transformation,’ he said.

The collaboration also strongly emphasises strengthening the rural economy through training programmes covering market linkages, marketing, export promotion, leadership and entrepreneurial orientation, especially for tribal women.