In a recent address, NITI Aayog CEO BVR Subrahmanyam emphasized the need to double India's universities to 2,500 for 50% student enrollment. Highlighting India's digital prowess, he praised the country as a global digital laboratory. Subrahmanyam lauded India's digital infrastructure and financial inclusion efforts. He outlined a vision for a USD 30 trillion economy by 2047 and stressed India's potential in research, innovation, and climate-friendly technologies, positioning the country as a global technological leader. NITI Aayog aims to advance India's frontier technologies and set industry standards.
In a recent address at the Indian School of Business (ISB), NITI Aayog CEO BVR Subrahmanyam emphasized the need for India to bolster its higher education sector to accommodate 50% of students in universities. He proposed doubling the number of universities to 2,500, pointing out that despite significant growth with one university and two colleges opening weekly over the past decade, only 29% of the age cohort currently enrolls in universities.
Highlighting India's prowess in the digital realm, Subrahmanyam lauded the country as the largest digital laboratory globally, offering unparalleled opportunities for experimentation at scale. With 1,200 universities and over four crore students, he stressed the necessity for at least 50% of students to be enrolled in colleges, underscoring the need for a substantial increase in educational institutions.
India's digital transformation was also a focal point, with Subrahmanyam commending the country's establishment of a robust digital public infrastructure. He drew comparisons with Estonia's digital identity initiative, noting India's monumental achievement in providing digital identities to its vast population, along with widespread banking access.
Describing India as a pioneer in digital connectivity and financial inclusion, Subrahmanyam highlighted the country's innovative strides, such as the widely acclaimed Unified Payments Interface (UPI). He pointed out that nearly half of global financial transactions are processed in India and emphasized the country's position as a hub for fintech innovation, citing the exponential growth in monthly transactions.
Looking ahead, Subrahmanyam outlined a vision for a prosperous and inclusive India, projecting a USD 30 trillion economy by 2047, surpassing the current economic sizes of the US and China. Emphasizing the importance of research and innovation for economic development, he underscored India's potential to lead in frontier technologies and climate-friendly solutions.
Reflecting on India's transformative journey over the past decade, Subrahmanyam highlighted achievements such as universal access to drinking water and electricity, widespread infrastructure development, and significant poverty reduction. He also emphasized the country's role in addressing climate change and fostering green technologies, positioning India as a global leader in technological advancements.
NITI Aayog's initiatives, including futuristic visions for economic growth and technological advancements, aim to propel India towards a leadership position in frontier technologies. Subrahmanyam reiterated the agency's commitment to setting benchmarks and standards for emerging technologies, envisioning India as a trailblazer in the global technological landscape.
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