NSDC has entered the National Stock Exchange’s Social Stock Exchange platform in Mumbai with a programme that connects skill training to overseas employment. Jayant Chaudhary, Minister of State with independent charge for Skill Development and Entrepreneurship and Minister of State for Education, marked the debut by participating in the NSE bell-ringing ceremony. The initiative brings public funding, institutional and social investment, and specialised training providers into a shared financing arrangement intended to improve livelihoods.
NABARD subscribed ₹4 crore to NSDC’s first Zero Coupon Zero Principal, or ZCZP, issue. The proceeds support a programme for 600 young people from economically weaker OBC households in Madhya Pradesh, with training intended to prepare them for international job opportunities. The announcement describes a targeted employment-linked initiative rather than an unrestricted recruitment offer.
The event brought together the participating governments, financial institutions and industry representatives. Attendees included Madhya Pradesh minister Krishna Gaur; Maharashtra minister Mangal Prabhat Lodha and Additional Chief Secretary Manisha Verma; MSDE Additional Secretary Manisha Sensarma; NSE Managing Director and CEO Ashishkumar Chauhan; NSDC CEO Arunkumar Pillai; NABARD Chairman Shaji Krishnan V.; and DCM Shriram International Managing Director Alok Shriram. Representatives of partner organisations also attended. Their participation reflected the programme’s reliance on coordination between training institutions, public bodies and development financiers.
Chaudhary said investment in people must accompany economic growth. In his account, government provides the enabling framework, while larger development programmes depend on cooperation among public institutions, private funders and donors. He described the Social Stock Exchange as a way to connect contributors with credible projects and verifiable results. He also acknowledged the roles of NSDC, NABARD, NSE, Madhya Pradesh and other participants in linking skills investment to overseas work and sustainable livelihoods.
Krishna Gaur said the partnership aims to widen access to training and employment for backward-class youth facing financial and social barriers. She highlighted the opportunity for 600 young people from Madhya Pradesh to gain internationally relevant skills for work in Japan and Germany. She also emphasised the state’s decision to link part of its funding to successful placements, presenting the arrangement as a potential route to greater economic independence for participating households.
How the programme will be financed
The estimated programme cost is ₹11.25 crore. Its blended funding model assigns 15 per cent of the cost to beneficiaries, 35 per cent to finance mobilised through the Social Stock Exchange and 50 per cent to the Madhya Pradesh government after candidates secure international placements. The state’s contribution is therefore tied to an employment outcome rather than being described simply as an upfront training grant.
NSDC and Madhya Pradesh have structured the outcome-linked portion through a bilateral Social Impact Bond framework. The arrangement connects public expenditure to measurable employment results. Alongside this funding role, the state will help mobilise candidates and support residential training facilities and language laboratories.
Eligible social-purpose organisations can use ZCZP instruments to raise resources without conventional principal-repayment or interest obligations. The announced framework instead emphasises transparent use of funds and reporting on the social outcomes achieved. These features are central to the programme’s accountability model.
Manisha Sensarma highlighted the financing design and accountability arrangements as the main public-policy contribution. She said the initiative shows how public resources can work alongside institutional and social investment to pursue defined development outcomes. MSDE welcomed NSDC’s exploration of such instruments while emphasising governance, transparent reporting and measurable results. Lessons from implementation could inform the design and expansion of other employment-oriented skilling programmes.
Partner roles and employment preparation
NABARD’s involvement connects rural development finance with international workforce mobility. The intended beneficiaries are economically weaker rural households. Through overseas employment pathways, the programme seeks to improve earning potential, savings and longer-term livelihoods. These are programme objectives, with results dependent on training, placement and subsequent employment conditions.
NABARD Chairman Shaji Krishnan V. said the subscription reflects interest in testing innovative development-finance arrangements. He expressed the hope that the initiative would attract further institutional and private participation and demonstrate measurable social impact. In his assessment, development finance should be judged not merely by capital raised, but by the opportunities and lasting livelihood improvements it creates.
NSDC CEO Arunkumar Pillai described the SSE debut as part of the corporation’s effort to broaden financing for skill development and employment-linked programmes. He acknowledged the contributions of NABARD, NSE, Madhya Pradesh and the participating partners. He said implementation would now concentrate on verifiable outcomes and the development of a portfolio capable of drawing wider participation in social finance.
The training plan allocates 300 candidates to preparation for opportunities in Japan and 300 to Germany. NSDC International Limited, NSDC’s wholly owned subsidiary, will deliver residential foreign-language and employability training. The programme will address destination-specific preparation and opportunities in sectors such as caregiving, hospitality, construction and manufacturing.
The announcement gives indicative monthly earning estimates of approximately ₹1–1.2 lakh in Japan and ₹1.1–3.2 lakh in Germany for candidates who are successfully placed. These estimates depend on the role and employment terms; they should be read as indicative figures rather than guaranteed salaries for every participant.
The SSE initiative is intended to complement government spending with social investment and public funding linked to employment results. NSDC hopes that combining those elements will produce a model that can be replicated in other programmes, strengthening employability and international workforce mobility while tracking livelihood outcomes.
NSDC operates under the aegis of the Ministry of Skill Development and Entrepreneurship. Its work includes industry partnerships, vocational-training initiatives and financing approaches aimed at improving employability and expanding sustainable livelihood opportunities for young people in India.