New Delhi, February 27: Vice President of India M Venkaiah Naidu on Wednesday inaugurated the Education Promotion Society for India and EFMD B-leadership Conclave on the theme of Business Education 4.0: Futurizing Indian Business Schools at Delhi.
Speaking at the occasion the Vice-president
“Today in business education we are standing at the cusp of change. The world is changing faster we are a regime of LPG- liberalisation, Privatization and Globalisation. There is nothing new in the phenomenon of technology challenging human knowledge. Many inventions brought about iconic changes.”
Talking about the Indian education system, he outlined, “We are a country of 130 crore population, in the last 70 years, governments have tried best but 20% of people are illiterate. There are regional disparities. We need holistic idea to challenge this. Education is not for employment alone, education is for enlightenment and empowerment apart from employment.”
“It is predicted that India will become theirs largest economy in the world. We hope then government will spend more and more in the education secto,” he added.
Speaking about higher education and business education, he said ,”It is the duty of government to encourage institutions coming in private sector by giving them tax relief, land and other facilities. It is important to create wealth to distribute wealth. To create wealth one needs business. There is a sense of reform, perform and transform in the country. Red tape has been replaced by red carpet. It is quite evident that trained human capital is vital for growth of GDP.”
Emphasising on the need of the conclave, he said, “Wise people learn from others experience. We have choice of western, Chinese and Singaporean model which have been very successful. We also need to address the Indian challenges of creating a domestic model as per the nation. Technology must be integrated with education. Indian Businesses have also realised that there will be paradigm change in the market. B-schools must be able and ready to tackle the challenges being created by industry. B-schools have to prepare the jobs that do not exist and to prepare them for futuristic jobs. Disruptive technologies like machine learning are making it possible for learners to learn rapidly. The governance and regulatory model of Indian business will need fresh thinking and outlook. It was introduced in 1990’s, it is too much focused on physical infrastructure. Post liberalisation Indian economy has drastically changed. There is a requirement of regulatory framework which focuses on innovation and entrepreneurship.”
A day after the IAF air strike, the Vice-president also made a mention of terrorism and said, “Terror is enemy of humanity. Peace is prerequisite for progress. The countries abetting, aiding terrorists must be isolated. It’s hight time that international community just come together to tackle this menace. We never attack any country but we know to keep our country secure. Yesterday’s action was a much needed pre-emptive strike. I congratulate armed forces for the same”.
“The strength of India is the family system. We have to strengthen the family system and family business model. They must also be part of curriculum,” he added.
In the beginning of the event, the guests were briefed about the conclave by EPSI alternate president Dr H Chaturvedi who also delivered the welcome address.
In his welcome address, Dr H Chaturvedi, alternate president EPSI and Director BIMTECH outlined the key contributions of M Venkaiah Naidu as the vice-president of India and Chairman of Rajya Sabha.
“Eminent minds for academia and industry will be addressing the two day conclave. Through this conclave we will hope that we will be able to chart out a path for future of B-schools”
Speaking next, Dr G Vishwanathan, founder and chancellor VIT University said, “This two day conference is an important event. Education is a very important subject for any developing country. Our Vice-president is an inspiration for the youth of the country, particularly from rural area. He has achieved all this with education and hard work.”
“Even though the constitution says free and compulsory education, this is only true for government school. Those who go to private school don’t get any thing from state or central government. There are over 30 countries that offer free education upto higher level. Out of 14 crore children, only 3.6 crore are getting higher education in 3000 universities and 50,000 colleges. In the last budget only about 3% budget was allotted for education. The basic of any country to become advanced nation is education,” Dr. Vishwanathan added.
Eric Cornuel, Director General and CEO, EFMD & EFMD GN also said, “I know how important and challenging it is to co-ordinate and co-operate between government and educational institutes, institutions and industries. The job market is also in a state of transition. Professors from Oxford have estimated that 48% jobs are at risk due to automation. To remain competitive, the best chances of success, we need to offer training and career focused education. According to WEF, education has tremendous potential to combat inequality. Life long learning will be different and important for the next generations.”
The vote of thanks was delivered by MR Jayaram, who said, “Anyone who stops learning is old. The greatest thing in life is to keep learning. Today every aspect of education seems interdependent. There is need to learn new skills set for this new India.”
The two day conference will brainstorm over the various challenge in front of the business education and will attempt to built a roadmap for future of business education.
B-Schools Leadership Conclave 2019 Outlines Futurizing Indian Business Schools
