IndiGlobal Bureau
In UK there are university towns with the whole economy being driven by the money generated by the university. The shops, businesses and commercial establishments in the town or city are dependent on the university and are called ‘university towns’ said Dr Anil Kashyap, President and Chancellor, NICMAR. Elucidating further with statistics, he shared, “In 2021, all educational institutions in the UK contributed a gross output of 95 bn British pounds and the contribution in terms of GDP was 52 bn British pounds. Universities created 10 lakh jobs. Universities abroad are built around research and innovation.” He was speaking at the inaugural session of the 2nd IndiGlobal Education Festival that recently concluded in Hyderabad.
Dr Anil Kashyap stressed that Indian universities too could scale up and at the moment are within ‘boundary walls’. He also drew the attention of the large gathering to the budget allotted by India for educational infrastructure which he said was 3 per cent of the GDP as against the UNESCIO 2030 framework to be 4.5 per cent. On the other hand, UK with a population of 65 crore spent 5 per cent of its GDP on education. It may be noted that the Indian population is 130 crore and counting.
With regards to ranking, there is a big debate on the role of a consultant and there is a school of thought that believes that it is ‘consultant driven’. Ultimately, it is not about chasing ranking but it is all about making a difference. Dr Anil said that there are several indicators but what is important is when a 12 class student enters a university and graduates, is he getting a job commiserates to his education and what is the value addition that the university has made to his personality.
