Knowledge based economy key to India growth story in 21st century – H. E. Prof K. S. Solanki

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Need to strengthen industry led research to attain high tech, low cost and environmentally sustainable manufacturing in India – H. E. Prof Kaptan Singh Solanki

CII Edu summit calls for stronger industry participation in R&D

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NewZNew (S A S Nagar) : “The 21st century is the century of knowledge and technology based economies. India’s growth story can never be accomplished in the current global scenario without focusing on knowledge and technology based engineering. Hence it is imperative that the Indian industry collaborates aggressively with institutes, universities and the Govt bodies to initiate joint Research and development (R&D) projects in various keys sectors, which are most critical in the next decade or two”, emphasized H. E. Prof Kaptan Singh Solanki, Governor, Punjab & Haryana and Administrator,  UT Chandigarh at the Edu Summit organised by Confederation of Indian Industry (CII), in partnership with Indian School of Business (ISB) and Govt of Haryana at ISB Campus, here today.

“It is most vital that industry invests heavily in (R&D) to find innovative ways in both services and manufacturing sectors. To succeed in our ‘’Make in India’ campaign, in true sense, our Manufacturing has to be both cost and resource effective as well as environmentally sustainable, with least impact on climate. To attain this, the only solution is active collaboration and partnerships of industry in the higher education and R&D projects with governments, universities, institutes, global community colleges and other education tools and service providers”, further added the Governor.

“Notwithstanding a network of more than 750 universities, over 45,000 colleges, our Gross Enrolment Ratio in higher education is still at 19.4 % as compared to 84 % in US, 59 % in UK, 55 % in Japan and 28 % in China. Hence, there is a need for both industry and Govts to invest in existing institutes, setting up new institutes and develop new knowledge clusters”, he informed.

H.-E.-Prof-Kaptan-Singh-Solanki,-Governor,-Punjab-&-Haryana-and-Administ...

“Further, though 67 % of our population is young, but our skilled workforce is below 10 % as compared to 95 % in South Korea and 80 % in Japan. There is a great need to bring about equivalence between Degree and Skills with a lot of technology and knowledge interventions. The Social status for a skilled person also needs to be redefined”, he shared.

“India has been at the forefront of spreading wisdom, virtues and moral values to the world. Hence it is also essential that, while focusing on technology, we do not neglect our moral values and spiritual strengths as well”, he added.

Mr Vijai Vardhan, Additional Chief Secretary-Higher Education, Government of Haryana shared that “Haryana Govt is committed to create Centers of Excellence under PPP mode with industry to reach out with the latest knowledge, technology and research to as many youths as possible across the state. To build world class organisations, we need to build world class institutes with world class training and research facilities”.

CII is particularly concerned about the present status of higher education in the country and strongly believes that the country cannot achieve the universalization of education without the efforts of the private sector. CII has been focusing on policy advocacy with the Govts on key issues, forging PPP partnerships, strengthening and expanding industry-academia linkages etc. Our target is 10 Nobel laureates from India in next decade”, shared Mr Vijay Thadani, Chairman, CII National Committee on Higher Education and Vice Chairman & Managing Director, NIIT Ltd.

“One of CII’s key initiatives include instituting “Prime Minister’s Fellowship Scheme for Doctoral Research”, in partnership with SERB (Science and Engineering Research Board), Department of Science and Technology, under which up to 100 PhD fellows are given double scholarship of up to Rs 8 lakh per annum for four years to do research on industry-relevant problems. There are roughly 70 PM Fellows at the moment. They are engaged in research at India’s premier institutes such as IITs, NITs and IISERs and over 50 companies are working with them”, added Mr Thadani.

Knowledge and technology is the key in each sector, be it services or manufacturing. The growth of the knowledge economy has gained momentum with rapid globalisation of ideas and acceleration of technological advancement. To accelerate growth and development, India must initiate strong policies to build R&D capability, invest in human resource development, align education systems with sectoral needs and tap investments from the private sector, with the Government playing a critical role as a catalyst”, shared Mr Ajit Rangnekar, Co-Chair, CII Edu Summit & Dean, Indian School of Business.