Kolkata, Dec 5 (UNI) Leading spoken English training academy Veta, under the aegis of Amoha Education Pvt Ltd, and SAIF Partners, a Mauritius-based private equity firm, have joined hands to invest USD 10 million in the spoken English training sector in India.
Addressing a press conference here today, Veta Executive Director Major K V Rajan said, ''Amoha Education has recently joined hands with SAIF Partners to invest USD 10 million. With this joint enterprise, SAIF Partners has increased its investment in the Indian portfolio to 14 companies, including NSE, Sify, IL&FS Investsmart, Intelligroup, Makemytrip.com, HomeShop18, JustDial and SlashSupport, among others.'' ''In accordance with our expansion plans for Eastern India, we are strengthening our presence in West Bengal by inaugurating our eighth spoken English training academy in the state. Subsequently, we will be consolidating our presence not only in India, but also across the globe,'' Mr Rajan said.
Veta would also commence operations in Singapore by the end of the current fiscal, besides diversifying to other Asian countries, including Malayasia, Indonesia and Vietnam, he added.
Founded in 1981 as the Vivekananda Institute, the brand, now known as Veta, is an ISO 9001-2000 certified organisation and has 175 training centres in over 100 cities across the country and trained over 2.1 million students till date.
The company offers various types of courses to cater to different levels of learners, including Foundation English, Fluent English, Accent, Sureshot, as well as training for students planning to take the IELTS/TOEFL for academic purposes. It also offers training for corporates to ensure that the quality of their staff is enhanced.
''The service sector accounts for over 50 per cent of the country's GDP. It is this sector that is actually fuelling the growing demand for more people fluent in English. It is estimated that the BPO sector will add another two lakh people to its existing workforce of 4.1 lakh this year. The retail sector, which is growing by 30 per cent annually and already employs close to 40 million people, also requires personnel fluent in English. Through our spoken English training centres, we endeavour to inculcate the confidence, which will enable people to communicate effortlessly in English and thereby help them in getting good employment,'' Mr Rajan said.