Indian Scientists are well known in the world. 36% of Indian scientists are there in NASA. Many top corporates are managed by Indians like Satya Nadella of Microsoft, Sundar Pichai of Google, Shantanu Narayen of Adobe, and the list goes on. But one most important thing to notice is that they all are settled outside India and they have studied from universities outside India. Satya Nadella is an MBA graduate from University of Chicago, Sundar Pichai is an MBA graduate from Wharton School of University, Shantanu Narayen is an MBA graduate from University of California. When Indians can rule the corporate world, why can’t the Indian education be of such standards as to match up with that of the corporate requirements? Let us throw some light on the same.
A total of 5500 business colleges are there in India. A total of 30000000 plus students are studying in Indian universities. At the same time a report from Assocham in the year 2017 says that only 7% of Indian B School graduates are employed. A report says that 38-58% projects submitted by students in their institutes are fake. Those are bought from the market in which do not have any direct involvement of the students. When the baseline itself will not be strong what will be the result when a student after passing out from the university joins a corporate. Any corporate wants to hire one person to work on multiple skills whereas in India if 5 people are hired, they are incapable of working for a single skillset. The main objective of any education system should be practical based, skillset development with minimum theoretical lectures. Because end of the day, it is the skillset which talks and not the theoretical lectures.
Why are Indian institutes not capable of adopting or delivering better results?
The main issue is with the faculty. Anybody who does not get a job after passing out joins any institute as lecturer. And the worst case is Indian institutes have become more like business than manufacturing good products i.e. students. Reason is very simple. It is the standard of faculties who focus mainly on the theoretical studies and do not concentrate on practical projects, skillsets development and case studies. Now the question would come WHY? Because of their low standard and lower pay. As I told earlier that the faculties are the same who join any institute after getting rejected in the corporate world. Second, the low pay. Even if any faculty wants to develop the skillsets and start teaching the students, because of low pay he does not get motivated to take a such initiative. Indian faculties get salary in thousands whereas foreign faculties get salaries in lakhs per month. Ultimately this also is a part of the Indian education business.
How are corporates run in India?
Most of the corporates in India look out for an MBA degree and not the skillsets even if the corporate is from outside India. This is one of the main reasons why Indian education has become a business with times. People run behind getting a degree and that eventually drag them to take education loans. A report from Times of India says that education loan market has shrunk 25% in past 4 years whereas total loan amount disbursed increased to 34% to Rs 22500 Crore as of FY 2019 from Rs 16800 Crore in FY 2016. This subsequently increasing the NPA (nonperforming asset) of the Indian banking system as the pass out students are not been capable of getting a job to repay the loan amount.
Recently, some of the major corporates have started hiring talents and not the degrees. Some of these corporates include Google, EY, Apple, Starbucks, IBM, and Bank of America. I think this is a great move and hope every corporate through out India will adopt this approach which will reduce the burden of loan on parents and development of skillsets among the students.
My View – The Indian education system should abandon old fashion education of theoretical studies and should focus on skillset developments, case studies, projects. Two positive outcomes would come out of this move. First is the demand of high fees in the institutes would come down and the quality of education would go up as per the demand in the corporate world. Second, upon developing the skillsets, the demand for entrepreneurial objective would go high which could help create jobs in the market. And to make this happen the role of the government will play a crucial role. Without that nothing is going to change.
No comments:
Post a Comment