India’s National Apprenticeship Promotion Scheme Fuels Inclusive Growth
New Delhi, May, 2024.
India is witnessing a remarkable transformation in its approach to skill development through the National Apprenticeship Promotion Scheme (NAPS). Launched in August 2016, this ambitious initiative has emerged as a game-changer, bridging the gap between formal education and industry demands while addressing the pressing issues of youth unemployment and underemployment.
The enrollment of apprentices has witnessed remarkable growth over the past few years. In the financial year 2018-19, the total number of enrolled apprentices stood at 35,333. However, this figure has skyrocketed to an impressive 931,406 in the current financial year, 2023-24. This staggering increase represents a significant Compound Annual Growth Rate (CAGR) of 74.76% over the five-year period.
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