Srinagar, Aug 13: India’s education system is facing an economic cost of $175 billion annually due to the lack of core competencies among its 4.5 crore students, former secretary at the Ministry of Human Resources & Development (MHRD), R. Subramanyam said on Tuesday.
Subramanyam, who is currently the Secretary and CEO of the Centre for Research in Schemes and Policies (CRISP), made the statement during a workshop on Institutional Development Plan (IDP) at Maulana Azad National Urdu University (MANUU) in Hyderabad.
The workshop, which was organised by the UGC-Malaviya Mission Teacher Training Centre (UGC-MMTTC) in collaboration with the Internal Quality Assurance Cell (IQAC) at MANUU and CRISP, aims to equip higher educational institutions (HEIs) with skills to develop institutional development plans.
Subramanyam said the demographic dividend is a once-in-a-lifetime opportunity, but it will yield returns only if the workforce is skilled and productive. He urged educational institutions to rebuild themselves to provide students with core competencies for gainful employment.
The economic cost of India’s education system failing to provide students with core competencies is estimated to be $175 billion annually, according to Subramanyam. This, he said, highlights the need for a revamp of the education system to ensure that students are equipped with skills that are relevant to the job market.
The workshop has brought together delegates from across the country to discuss the importance of planning in HEIs. The goal is to enable institutions to recognise their intent and core values, set goals, identify key performance areas, formulate strategies and policies, and develop skills for drafting institutional development plans.
The event is being conducted by Prof. (Retd) Aloysius Sequeira, National Institute of Technology (NITK), Karnataka, and is attended by dignitaries including Prof P.F. Rahman, Vice Chancellor I/c, MANUU, and Prof Sk Ishtiaque Ahmed, Registrar, MANUU.
The issue of core competencies has become a pressing concern in India’s education system, with many students joining colleges without hope or aspiration for getting a placement.
The Institutional Development Plan aims to address this issue by providing a framework for HEIs to develop their own plans and ensure that they are equipped to provide students with the necessary skills for gainful employment.
