Corporate Funding Essential for the Development of Educational Institutions: Pranab Mukherjee

Speaking at the concluding session of second Visitor’s Conference, President Pranab Mukherjee emphasised that higher educational institutions are torch bearers of progress and corporate funding is essential for the development of educational institutions. It is time to upgrade the quality of education which could only be done by improving the quality of faculty, mitigating faculty shortages, building an innovation eco-system and sound research. He further added that giving importance to the ranking process and developing linkages with alumni, industry and international universities.

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He indicated that building institutions is not merely brick and mortar activity. It must be planned by considering the vision of future generations. Irrespective of gender, race, socio-economic background, institutions of higher learning are a place where merit triumphs over individual identities in pursuit of excellence.

The government must take an initiative of seeking funds from various mechanisms like alumni and corporate sector to support research and development. Although the government has been providing funds, it would not be sufficient to achieve better rankings. Hence, other sources of funds would also play a significant role in developing the institutions.

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He further added that around 1,800 Memorandums of Understandings (MoUs) with foreign and domestic institutions and 530 MoUs with industry and central universities are adding on to the right path. Most of the central institutions of higher learning are getting truly industrialised. The success of these institutes depends on the way the MoUs are implemented.