The National Skill Development Corporation’s (NSDC) debut on the Social Stock Exchange (SSE) platform of the National Stock Exchange (NSE), Mumbai was attended by Union Skills Minister, Jayant Chaudhary, who participated in the bell-ringing ceremony. Through this programme, The skilling agency is bringing together government funds, Private CSR, Retail investor Capital, and specialised training capabilities around a common objective of sustainable livelihood.
The occasion marked NSDC’s maiden issuance of Zero Coupon Zero Principal (ZCZP) instruments, with the National Bank for Agriculture and Rural Development (NABARD) subscribing ₹4 crore towards an innovative skilling and global employment initiative. The programme will support 600 young people from economically weaker Other Backward Classes (OBC) households in Madhya Pradesh, preparing them for international employment opportunities.
The ceremony was attended by Smt. Krishna Gaur, Minister of State (Independent Charge) for Backward Classes and Minorities Welfare, Government of Madhya Pradesh; Shri Mangal Prabhat Lodha, Minister for Skills, Employment, Entrepreneurship and Innovation, Government of Maharashtra; Smt. Manisha Verma, Additional Chief Secretary, Government of Maharashtra; Smt. Manisha Sensarma, Additional Secretary, Ministry of Skill Development and Entrepreneurship (MSDE), Government of India; Shri Ashishkumar Chauhan, MD & CEO, National Stock Exchange (NSE); Shri Arunkumar Pillai, Chief Executive Officer, National Skill Development Corporation (NSDC); Dr. Shaji Krishnan V., Chairman, NABARD; and Shri Alok Shriram, Managing Director, DCM Shriram International Ltd., along with representatives from partner organisations. The event highlighted the growing role of social finance and collaborative institutional frameworks in expanding access to quality training, sustainable livelihoods and global workforce opportunities.
Addressing the gathering, Shri Jayant Chaudhary, said: “India’s growth must be matched by investment in its people. Government can create the enabling framework, but financing development at scale requires public institutions, private funders and donors to work together. The Social Stock Exchange connects this collective commitment with credible projects, transparency and verifiable outcomes. I congratulate NSDC, NABARD, NSE, the Government of Madhya Pradesh and all contributors for building a partnership that turns investment in skills into global employment opportunities and sustainable livelihoods.”
Innovative financing model linking investment with employment outcomes
The programme, with an estimated outlay of ₹11.25 crore, adopts a blended-financing structure that combines three complementary sources of funding. Beneficiary participation will account for 15 per cent of the programme cost, 35 per cent will be supported through financing mobilised on the Social Stock Exchange, and the remaining 50 per cent will be provided by the Government of Madhya Pradesh upon successful international placement of candidates.
The outcome-linked component is structured under a bilateral Social Impact Bond framework between NSDC and the Government of Madhya Pradesh, aligning public expenditure with measurable employment outcomes. The State Government will also support candidate mobilisation, residential training infrastructure and language laboratories.
The ZCZP framework enables eligible social-purpose organisations to mobilise resources without conventional interest or principal repayment obligations, with emphasis on transparent deployment of funds and reporting of social outcomes.
Speaking on the significance of the initiative, Smt. Manisha Sensarma, Additional Secretary, MSDE, said, “From a public-policy perspective, the significance of this initiative lies in its financing architecture and accountability framework. It demonstrates how public resources can be combined with institutional and social investment to support clearly defined development outcomes. The Ministry welcomes NSDC’s efforts to explore innovative financing instruments while maintaining strong governance, transparent reporting and measurable results. The experience from this programme can provide useful lessons for designing and scaling future outcome-oriented skilling interventions.”
Strengthening institutional partnerships
NABARD’s participation represents an important convergence between rural development finance and the expanding opportunities available through international workforce mobility. The initiative seeks to support economically weaker rural households by creating pathways to higher earning potential, increased household savings and sustained livelihood improvement.
Dr. Shaji Krishnan V., Chairman, NABARD, said: “NABARD’s participation in Social Stock Exchange issue reflects our commitment to exploring innovative development-finance models. We hope this initiative will encourage greater institutional and private sector participation while demonstrating the potential of innovative financing models to deliver measurable social impact. Ultimately, the true measure of development finance lies not in the amount of capital mobilised, but in how effectively it is translated into opportunities, sustainable livelihoods and lasting improvements in people’s lives.”
Shri Arunkumar Pillai, CEO, NSDC, said: “NSDC’s debut on the Social Stock Exchange is an important step in our efforts to diversify financing for skill development and employment-linked interventions. Through this programme, we are bringing together government support, institutional capital and specialised training capabilities around a common objective of sustainable livelihoods. We are grateful to NABARD, NSE, the Government of Madhya Pradesh and our partners for their confidence and collaboration. Our focus will now be on effective implementation, verifiable outcomes and building a portfolio of initiatives that can attract greater participation in social financing.”
“The initiative will prepare 300 candidates for employment opportunities in Japan and another 300 for Germany through residential foreign-language and employability training. The programme will focus on destination-specific readiness and employment opportunities across sectors including caregiving, hospitality, construction and manufacturing. Training will be delivered by NSDC International Limited, a wholly owned subsidiary of NSDC,” he added.
The initiative is expected to provide participating candidates with access to international employment opportunities and enhanced earning potential. Indicative monthly earnings for successfully placed candidates are estimated at approximately ₹1–1.2 lakh in Japan and ₹1.1–3.2 lakh in Germany, depending on the job role and employment conditions.
