Uttarakhand: Expressing concern over the performance of universities and lack of a dedicated cadre of management professionals, President Pranab Mukherjee noted that no Indian university figures in the list of top 200 such educational institutions in the world.
Mukherjee was addressing the first convocation of the Indian Institute of Management (IIM). The youngest of the elite institutions was founded three years back.
The present pool of competent management professionals is not enough to meet the needs of the country, he said.
A strategy is required to make the Indian industry compete successfully with the best in the world. Healthy growth of Indian business will be greatly facilitated by the availability of a competent cadre of management professionals."The pool of such professionals in our country is unfortunately not enough to meet the need of the country.
"The annual enrolment in commerce and management streams has increased from around 23 lakh in 2006-07 to around 34 lakh in 2011-12," he said.
The need for graduates and post-graduate students in these streams will be much higher in the future and the country must be ready to meet the demand, he said.
Underlining innovations in universities as an "important driver for growth," the President said, "Unfortunately, we also lag behind our major competitors in this aspect.
"The number of patent applications filed in India in 2012 was about 42,000, which is far below the six lakh applications in both China and U.S.," he said.
For encouraging a culture of innovation in the country, he said, "We must create more opportunities for collaborative research, set up industry incubation parks in educational institutions and provide more research fellowships."
He observed that India today stands at the cusp of greatness and while there are many challenges, there are also boundless opportunities.