Nearly two-thirds of India’s population is under the age of 35, constituting the world’s largest pool of young people. However, only 11% of those aged 17-23 receive higher education. The last session of the first day of the Asia Society’s 20th Corporate Conference focused on education. It opened with a keynote address by Timothy J. Roemer, US Ambassador to India. Ambassador Roemer outlined the US-India Education Partnership and the four new areas: community colleges, recruiting and training new teachers, embracing public-private partnerships and sharing access to high technology. He stressed that it is in both countries’ interests for there to be strong educational systems in both the US and in India.
Mr. Roemer’s address was followed by a panel discussion. Vijay Thadani, CEO of NIIT Ltd. opened the session, saying that the challenges that India faces in education are no different than are challenges elsewhere in the developing world: low quality of education, low enrollment, and low inclusion. The world is moving from an industry-based society to a knowledge-based one, and India’s educational system is lagging. Shantanu Ghosh, the Senior Vice President of Solutioning, Transitions, Practice at Genpact identified three issues associated with the low employability of Indian graduates: average quality of education is poor, talent varies widely, and much of India’s educational system is based on learning by rote, rather than by application, which does not adequately prepare Indian students for the real world. Sid Myer, Chief Executive Officer of the Yulgilbar Group of Companies, argued that the Indian education should strive to make its students “Asia-literate”. It should prepare them for a career of doing business in Asia. Ms. Ton Nu Thi Ninh, President of the Tri Viet Centre said that Vietnam is on the cusp of the middle income trap; for it to not fall in, the capacity lies with Vietnam’s young people. Moreover, if the 21st century is to be an Asian one, creativity will be at the center of growth, and that must be fostered by education.