Sam Ghosh-promoted Cosmea Financial Holdings announced its foray into education technology (ed-tech) space and said it would provide vocational training to around 1 million youth in the next one-and-a-half year.
The company has formed a joint venture with Delhi-based Primero Skills and Training Private Limited. The joint venture entity is named Torus Primero Edutech Private Limited. It aims to provide vocational training to 1 million youth across 40 sectors over the span of the next 18 months, the company said in a statement.
Torus Primero Edutech plans to target the Indian skill, education and edtech sector, which is estimated to be a $300 billion opportunity by the end of this decade.
The company said it would use cutting-edge technology to offer its courses and industry recognised certifications.
The joint venture also dovetails in Cosmea Financial Holdings (CFHs) plan of being a financial hub providing the entire gamut of financial services by providing skilled resources for all business initiatives that are being launched under the flagship Torus brand.
Torus Primero Edutech aims to provide skilling, reskilling and upskilling to participate in the global knowledge economy and lead to better employability opportunities. This will contribute to the Government of India’s skill development initiatives and is in line with the National Education Policy.
“Using an intuitive technology platform, we will provide new-age skills across high growth sectors – finance, retail, hospitality and healthcare in India and the Middle East. We further plan to align over a million jobs for our trainees in the next five years through this platform,” said Jayanta Das, CEO, Torus Primero.