Higher Education Abhishek Lohia Iift Delhi

ASHWAMEDHA ‟09 : IGNITE AHVAN Higher Education in India Abhishek Lohia IIFT Delhi

The problem  India has talented resources and infrastructure but students

remain unemployable.  Hon‟ble PM commented “Even if we meet our targets of higher access and enrolment, even if we spend huge amounts on higher education and even if we open a large number of new institutions, this issue of quality will not get addressed by itself ” during his visit to PU.  Problem lies in the wide disconnect between industry requirement and the academic input.  Funding from Govt. alone is not sufficient. The industry involvement in both funding and support has been very low.

Industry participation in higher education  High talent pool, if supported, is to the benefit of Indian companies 

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who currently find educated youth unemployable. It is but right that industry should “invest” in capacity building through supporting new institutions (industry sponsored) by creating a separate fund for the same. Curriculum has to be developed by the industry experts too, and not academicians. Course content can then be provided by academicians. This will ensure that right set of talent and knowledge is imparted to the candidates, while also getting the company CSR mileage. This is co‟s HRD investment. Major IT cos. which spend millions on post-recruitment training can save this expenditure.

What should be the focus?  Indian institutes are supposed to have best knowledge resources, and its

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curriculum is internationally renowned (eg. DU, CU).Then why is employability still a concern? Personality Development is always neglected. Knowledge alone wouldn‟t suffice. Success requires much more. The model suggested by me should equally focus on the aspects of personality, mannerisms, grooming, CV Building. Creativity sessions, Lateral Thinking sessions. Compulsory tour around the whole of India to study the business scenario and cultural aspect. This could be part sponsored, part subsidized by Govt. It will help in opening up the minds of the fresh graduates and sensitizing them to practical aspects of learning,

Attracting faculty: where is the money  Quality deficiency in higher education remains because of lack of top

class faculty.  Progressive pay package for attracting world-class talented professors. Benchmarked with Industry.  Involvement of industry experts and guest faculties in imparting practical knowledge.  Faculty Rotation programmes wherein some faculties sent to

international institutes for training and upgradation every year.  Faculties sent to foreign universities for teaching assignments. Sent to neighboring countries and other underdeveloped countries (in Africa, Asia).These can be additional sources of income for the faculties, and also help attract talented pool.

Faculty-Industry Collaboration  Industry association of faculties wherein they provide research and

consultancy to companies.  This practice is prevalent in Business schools but not in engineering colleges and other institutes of higher education.  Vast opportunities in civil, mechanical, software engineering and others in Govt. and corporate projects.  While adding to domain of practical knowledge, can serve as additional source of revenue for them and economical for companies.

Making Professors a partner in students’ career  Elite higher education institutes offer lucrative career

opportunities to their students but the professors who shape their minds are given meager salaries, consequently attracting low talent pool.  Make the professors a stakeholder in the students‟ careers by linking the students‟ salaries to their bonus.  Compulsory contribution of one months‟ salary to the special fund, from which yearly bonuses (additional remuneration) can be awarded to all faculties.  This could attract talented specialists who don‟t want to join the industry and yet get returns linked to the industry as well as the work done on the student.

Financing through University Bonds  Financing a major concern for infrastructure development and

equipments in institutes.  Raise additional money from public issue of „University Bonds‟ – long-dated discount bonds or Zero-coupons. ZC Bond Issue

Quality Improvement

Better Prospects for employment

Service Bond Issue

Increase Fees/ other contributions

Better opportunities for student loans

Quality Improvement

A sustainable model for additional self- financing

Industry Association for Engineering PHDs and Masters  Masters and PHDs in engineering are dwindling because of low industry  

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involvement in them and lack of funds. Why do engineering students get attracted to B-schools? With international and Indian companies setting up R&D facilities in India, they can be targeted to collaborate with these institutes. Students can be attached with these companies as research trainees and perform basic research and applied research for them. Companies sponsoring the same will get rights to the technology developed, patents etc. This can be cost-effective alternative to performing all activities in-house. Research faculties can also be involved in the same.

Provide Better Opportunities  Better pay packages for candidates doing PHDs in

engineering.  Showcase their output through publicized worldwide exhibitions organized by all technical institutes in collaboration (like IITs do in India) with Govt.  Collaborations with international universities for Masters and PHD training.  The research developments can be marketed to companies under licensing agreements, patents etc.