The National Apprenticeship Promotion Scheme (NAPS) is a flagship program of the Government of India that aims to address the issue of skill gap in the country. With the growing demand for skilled manpower, it is imperative for companies to have a skilled workforce to compete and grow in the global market. The NAPS scheme is a great opportunity for companies to create a skilled workforce and stay ahead of the curve. In this blog, we will discuss how the NAPS scheme helps bridge the skills gap in India's labor market.
Benefits of NAPS Scheme in Bridging the Skills Gap:
- 1. Addressing the Demand for Skilled Manpower: With the increasing demand for skilled manpower, the NAPS scheme provides companies with a platform to create a skilled workforce. It helps companies in addressing the shortage of skilled manpower in various industries.
- 2. On-the-Job Training: The NAPS scheme provides on-the-job training to apprentices, which helps in bridging the skills gap. The apprentices are trained under the guidance of experienced professionals, which helps them in developing industry-specific skills.
- 3. Improving Employability: The NAPS scheme provides apprentices with practical training in various industries, which enhances their employability. It helps them in developing technical and soft skills required for the industry, which in turn improves their career prospects.
- 4. Financial Incentives: The NAPS scheme provides financial incentives to companies to train apprentices. The government reimburses 25% of the stipend paid to the apprentices and 50% of the training cost incurred by the employer. This reduces the financial burden on companies and encourages them to participate in the scheme.
- 5. Certification: The apprentices are provided with a certificate after completing their training, which is recognized by the industry. This helps in improving their employability and career prospects.
Eligibility Criteria for Companies:
- 1. The company should be registered under the Companies Act or any other relevant act.
- 2. The company should have a valid PAN card and GST registration.
- 3. The company should have a functional office and provide adequate facilities for training.
- 4. The company should provide a stipend to the apprentices as per the minimum wage prescribed by the government.
- 5. The company should ensure the safety and welfare of the apprentices during the training period.
To participate in the NAPS scheme, companies can register on the official website of the Ministry of Skill Development and Entrepreneurship (MSDE). The website provides information on the scheme, helpline number, contact number, and the registration process.