Making apprenticeships right for SMEs

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The Indian SME sector is the lynchpin of the country’s economy employing around 40% of the total workforce, next only to agriculture. With SME contribution to GDP expected to rise to 22% in 2020 from 17% in 2011[i], developing the skills base of SMEs has never been more important to maximise productivity and boost social mobility. To aid the generation of well-paying jobs in SMEs the government made sweeping changes in 2014 to the Apprentice Act (1961) which were reflected in the National Apprenticeship Promotion Scheme (NAPS).  Although the NAPS was targeted at SMEs, they have not been quite forthcoming despite the various business-friendly changes to the Act including monetary support. Despite four amendments to the Act in total since its stipulation, challenges remain when it comes to scaling apprenticeship to its full potential…Read more

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