"Under the MoU, India and the US will recognize the building of a skilled and productive global workforce in India, which is of international quality and regional interest," NSDC said.

A platform will be created to enable corporate entities from the US to set up and support skill development centres in India. The centres are expected have a capacity of imparting skills to around 10,000 people every year.

"Through their individual experiences, the two countries will be able to exchange international best practices on standards in technical vocational training which will benefit the youth at large as India looks to create 100 million jobs over the next 10 years," USIBC Acting President Diane Farrell said.

Both countries will also support broader cooperation and mutual  assistance in technical vocational education and skill training. "This is an action that has come as an outcome of a very broad dialogue at the highest level between the Indian Prime Minister and the US President. We hope that this MoU becomes meaningful, fruitful, and really enhances and deepens the cooperation between the respective businesses of our skilling efforts," Secretary, Ministry of Skill Development and Entrepreneurship Sunil Arora said.

The MoU was signed by NSDC Chief Executive Dilip Chenoy and Farrell. "In line with our prime minister's vision of a Skilled India, this is another step to give a major boost to India's skilling ecosystem and create transnational standards, for which we are honored to partner with  USIBC", Chenoy said.

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