Thursday, November 04, 2010

Manipal eyes corporate education market

Manipal Education has created a new business unit to capture a slice of the booming market in corporate education. Termed the Corporate Solutions Group, it will provide degree level courses in banking, science, capital markets and executive courses for working professionals.

"There has been lot of focus on K-12 and higher education, but there isn't enough focus on corporate education," said Anand Sudarshan, MD & CEO, Manipal Education, who expects the new unit to contribute a third of revenues for the Rs. 1000 crore (Rs. 10 billion) education services group in the next five years.

According to a report by IDFCSSKI, corporate training in India is estimated to be a US$ 50-million market that will expand by 25% in the coming years. As more companies prefer to outsource employee training to specialists in a bid to ensure quality and reduce costs.

"If you keep training in-house, it becomes a costly proposition and you wont have enough faculty," said Manish Kumar, President and head of HR & CSR, Dhanalakshmi Bank. The bank trains its employees through a tie-up with corporate training outfit, Institute of Finance, Banking and Insurance (IFBI) set up by education provider NIIT in collaboration with ICICI Bank and various other corporations.

The business unit of Manipal has also set up ICICI Manipal Academy (IMA), to train probationary officers joining the bank. The residential course spread over nine months of campus training and three months of internship will provide a specialised diploma in insurance, banking, technology and soft skills.

Source: The Economic Times, November 4, 2010
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