FDI WILL REVITALIZE THE EDUCATION SYSTEM

                     

Education, a panacea for the ailing living standard, an elixir to the indignant poverty condition, a question as well as an answer to the economic disparity and an instrument to measure the prosperity of a nation, is a matter of concern for India. Population explosion rate has always been way ahead of literacy rate. Moreover the unfit, obsolete, and rote learning provided by the existing institutions have aggravated the problem in the form of educated unemployment. There is a dire need of complete overhaul of education system. Government has certainly done its bit by creating schemes and allotting funds, however, the stark reality is it (government) does not have enough capital to build new universities but it certainly does have the power to revitalize the system by implementing niche policies best one of these would be allowing FDI in education.

Currently education is a non-profit entity in India which results in formation of bogus trusts creating a cauldron of black money and a safe haven for corrupt politicians. The learning imparted by these are way below the standards and the pass out graduates add themselves every year to the pool of educated unemployed. Estimates say that only 10 out of 100 graduates are employable. Recruiting companies have to invest heavily on the technical adaptability making them loss of time and expertise. Rather more convenient and less expensive way would be to give them the consummate learning at the institution itself. Ambanis and tatas are vying for opening industry specific varsities but the redundant government mandate prevents them from doing so. Bringing foreign universities too will help ease the burden. Cambridge, oxford deserves to be in our country too.

Indians have proved their mettle in academics provided with good education, however most of these achievements happen to be in foreign. India lacks basic infrastructure and expertise for research. Opening FDI will allow varsities to conduct research intensive learning in addition we will have the world class infrastructure, global exposure, highly qualified faculties guaranteed job and eventually strengthening of economy. A good image is what we will achieve in the world which once had global with universities like Nalanda. Today, not a single Indian university is in top 100 which in the country with one by sixth of the world’s population ought to be.

There is another aspect of not providing quality education that results in creating pool of frustrated, vexed, at times inimical graduated that these may involve in unlawful activities creating havoc and decadence in the society. Quite apparent from the Arab uprising, London riots, wall-street protests where unemployed youths were the protagonist. So Government needs to bring FDI in the near future and provide Indian youths an opportunity of world class education at home.