The Union Cabinet on Wednesday approved the merger of two regulatory institutions into the National Council for Vocational Education and Training (NCVET) in order to improve skilling standards and the market relevance of skill development programmes.
"The NCVET's main objective will be to improve standards of skilling in the country," he said.
The NCVET will regulate the functioning of entities engaged in vocational education and training, both long- and short-term, and establish minimum standards for the functioning of such entities.
The primary functions of the NCVET will include recognition and regulation of awarding bodies, assessment bodies and skill-related information providers, and approval of qualifications developed by awarding bodies and Sector Skill Councils.
The Minister said there was a great demand globally for skilled workforce from India. He said there was a need for digital skilling as well.
Prasad said that 14,000 accredited industrial training institutes and 13,000 other (non-accredited) centres in the country needed "regulatory oversight".
The new council will lend credibility to vocational education and training, encouraging greater private investment and employer participation in the skills space.
(With inputs from agencies.)