New Delhi, India, February 6, 2012—
IFC, a member of the World Bank Group, is partnering with the National Institute of Entrepreneurship and Small Business Development (NIESBUD) in a program to enhance the skills of corporate trainers, an initiative designed to support growth of small businesses in India.
India’s small business sector has been limited by an acute shortage of skills. The IFC-NIESBUD program is part of a countrywide effort by the Indian government to build a skilled workforce of 500 million people by 2020. Supporting smaller businesses is a key part of IFC’s strategy in India to support smaller business.
IFC is partnering with the National Institute of Entrepreneurship and Small Business Development to improve entrepreneurs’ business skills through improved and systematic training programs. The project will also include measurement of training results and outcomes by ensuring application of skills in their daily work lives. A key component of the project is building a professional community among trainers.
“The program aims to create a cadre of trainers capable of transferring their skills and knowledge to small business owners,” said Arun Kumar Jha, Director General of NIESBUD. “This will help these firms apply the learning in their workplace to improve performance.”
The micro, small and medium enterprises sector is one of the largest employers in India, providing more than 60 million jobs. Recognizing the importance of skills development, the Prime Minister’s task force on skills development is formulating a National Skills Development Policy, which will include upgrading existing institutions and setting up skills development centers, among other initiatives.
“Small businesses are one of the key drivers of economic growth and social development in India,” said Anil Sinha, IFC General Manager for Advisory Services in South Asia.
“By improving the skills of trainers, IFC will assist the Institute to design a program that aims to establish a new standard of excellence for entrepreneurship training in India.”
To implement the training project, IFC will leverage its
Business Edge Training of Trainers
methodology that has been rolled out in 29 countries.
BusinessEdge
is a learning platform for small businesses that includes a comprehensive and effective approach to equip trainers with key facilitation skills. It has also established objective standards by which to evaluate the performance of trainers.
About IFC
IFC, a member of the World Bank Group is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities - all while driving our investments to an all-time high of nearly $19 billion. For more information, visit
www.ifc.org
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About NIESBUD
The National Institute for Entrepreneurship and Small Business Development was established in 1983 by India’s Ministry of Micro, Small and Medium Enterprises. The institute coordinates the activities of various institutions and agencies in developing entrepreneurship, primarily in the small and medium enterprises space. It has organized training programs throughout India and in more than 110 countries internationally.
