Skill Impact Bond enables over 29,000 youths with skills training & jobs

The initiative has successfully provided skills training and job employment to more than 29,000 first-time job seekers from low-income families, across 18 sectors in 24 states and union territories. This program aims to prepare about 50,000 young Indians. Interestingly, 60 percent of these beneficiaries are women. A standout feature of the Skill Impact Bond is its commitment to gender equality. Among the trainees, 74 percent come from low-income backgrounds, many of whom have limited education and no prior work experience. The program has effectively integrated these women into the workforce and implemented various supportive strategies to ensure their retention. Atul Kumar Tiwari, Secretary of the Ministry of Skill Development and Entrepreneurship, recently highlighted the importance of skill development in driving India's economic growth. Exemplifying the impact of the Skill Impact Bond, Tiwari stated, "It reflects true social responsibility by shifting the focus from short-term inputs to long-lasting impact." Beneficiaries of the skill development programs have also shared their transformative experiences. One trainee from Hazaribagh, who completed training at Kalyan Gurukul, said: "When I joined, my financial condition was not good. After completing 52 days of training, I secured a job in Chennai. I have been working there for three years now, and my financial condition has greatly improved. I can support my family, especially my father, who is currently unable to work due to health issues." Another beneficiary, Simran, expressed how the program has positively impacted her life. "Skill development helped me improve my abilities, build confidence, and learn teamwork," she said. "Applying the skills I learned in my job led to my promotion, which was a significant plus point for me." The Skill Impact Bond is a pioneering and landmark scheme that seeks to create a future-ready, inclusive workforce aligned with Prime Minister Narendra Modi's vision for India to achieve global leadership. The Ministry of Skill Development and Entrepreneurship is looking to embolden this scheme with the launch of SIB 2.0, focusing on empowering individuals and strengthening communities across the nation through skill development and vocational training.