New Delhi, May 4 (FN Agency) The enrollment of apprentices under the National Apprenticeship Promotion Scheme (NAPS) has crossed more than 9 lakh in the current financial year, 2023-24. An official statement said, this staggering increase represents a significant Compound Annual Growth Rate (CAGR) of 74.76% over the five-year period. Launched in August 2016, this ambitious initiative has emerged as a “game-changer” bridging the gap between formal education and industry demands. Compared to the previous financial year, 2022-23, the current year’s enrollment has seen a substantial 26.08% year-over-year increase. “The total number of apprentices registered in the financial year 2022-23 was 738,704, while in the current financial year, 2023-24, the figure has reached 931,406” said the statement.
In 2018-19, the figure of enrolled apprentices stood at 35,333. The states which are surging in enrollment include, Maharashtra (263,239), Tamil Nadu (101,519), Gujarat (83,611), Karnataka (78,497), and Uttar Pradesh (71,378), reflecting the scheme’s widespread impact across the nation. “NAPS has proven to be a mutually beneficial program, fostering growth and innovation within businesses while providing valuable on-the-job practical training and opportunities for aspiring professionals” it said. This symbiotic relationship is driving inclusive economic development, empowering individuals from diverse backgrounds, and nurturing personal and professional growth across sectors.