New Delhi– The union cabinet on Wednesday gave its approval for signing a Memorandum of Understanding (MoU) on skill development with US-based NGO Wadhwani Operating Foundation (WOF).

The trilateral MoU is to be between the Ministry of Skill Development and Entrepreneurship (MSDE), the National Skill Development Corporation (NSDC), and the Wadhwani Operating Foundation.

Romesh Wadhwani
Romesh Wadhwani

“The MoU will assist in facilitating and supporting skill development initiatives in the country through multi-skill institutes and skill universities along with promotion and creation of an eco-system for skill development,” a government statement said.

The statement said that over the span of three years, Wadhwani Operating Foundation would contribute $30 million to $40 Million to promote mutually-agreed skill and entrepreneurship development initiatives.

“The MSDE would provide support to integrate skill development initiatives in schools and institutions of higher education in a more organised and structured manner by pooling resources and setting up state programme management units as required,” the statement said.

It said that the MSDE would set up multi-skill institutes and skill universities with the help of sector skill councils and the NSDC.