Should the Govt. fund the IIT's and IIM's??
Sanjay Manocha
Consultant : Intimate Apparel Business of Fashion - 20+ years of experience
I wish to draw your issue to a very pertinent policy that is draining this country for decades of its human brainpower. IIT and IIM have been temples of learning for the last 70 years now, these regions of learning have nurtured?lakhs of students who are now spread all over?the world especially in the developed economies of the world like the US, UK, and other European?countries.?
Crores and crores of public money have been spent on creating these temples of excellence, and they have benefitted a large section of our population. But as has been the experience of passing graduates from these prestigious institutes they are immediately absorbed by leading corporates all over the world. It is nice to see that we are getting good remuneration for our talent as Indians. Indeed it makes me proud. But I see there is an issue of huge brain drain happening. Today Indian companies, startups and corporates offer a very good if not matching package for the best talent, however, these students still choose foreign companies over Indian companies.?
Countries like US, UK, Japan, Germany, France etc have benefitted immensely and India has suffered as a consequence. There have been several stories in the media where the top CEO's of Fortune 500 companies are Indians and they are from these prestigious institutions.?
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I have two points to make a) First there should be a 2 to 3 year lock-in period for all graduates and Postgraduates coming from these institutes to serve in India or Indian companies before they make a switch to multinational companies.
This kind of lockin has been there for all medical professionals. They should be extended with immediate effect to these institutions also.
b) The Govt and these institutes should not look at Govt to fund these institutes anymore. The govt has nurtured?these institutes for 70 years now and it is the turn of the alumni?to share this burden. So with the help of Govt. a body should be set up?to channelize the funding from Alumni to fund existing and new IIT and IIM.?
It is about time the alumni realize their duties to their alma mater and make a rightful contribution?to nourish future generations of talent pool in this country from which they have earned their billions....!