A meagre two Indian institutions (the IITs and University of Delhi) figured in the world’s top 200 universities compared to 49 from the USA, 30 from United Kingdom, 11 from Germany and 8 from China & Australia, a joint study by industry body ASSOCHAM-Yes Institute said on Monday. According to the ASSOCHAM-Yes institute joint study reveals that there is no Indian institution in the top 200. It therefore becomes imperative for the country to learn from global best practices.
The top talent goes to developed countries for studying, research and contributing intellectual capital as well as economic value to other countries. An estimated 6,00,000 Indian students are studying abroad, spending over USD 20 billion annually. Only 16 per cent of the Indian firms carry out any in-firm training themselves, as against 80 per cent of Chinese firms. As per the study indicates that only a small portion of Indian graduates are considered employable.
The Nation al Employability report 2013 pegged that employability was less than 25 per cent in almost all job functions across education streams- science, commerce, arts etc all. Releasing the paper, D S Rawat, Secretary General ASSOCHAM said, industry has to offer internships, participate in developing curriculum and assist in developing competencies for the work life. There is a need for developing a public private partnership (PPP) bases ecosystem at the secondary school level.
As of 2009, there were just 5 per cent of the senior secondary schools offered vocational education streams. India’s higher education sector faces many challenges such as low level employability, lack of research as well as limited scope for innovation and entrepreneurship. To overcome them it is critical to align the higher education system with emerging economic realities and industry requirements as well as introduce well-structured and futuristic education frameworks.