Creating Regional Wealth in the Innovation Economy: Models, Perspectives, and Best Practices

2017-07-07 02:10:07

One of the most well-known systems of technical education of international caliber is the IIT. Spurred by the decision of Sir Jogendra Singh, member of the Viceroy's Executive Council at the Department of Education, Health, and Agriculture, to set up institutes of higher technical education for post-war industrial development in India, the first Indian Institute of Technology was set up in 1950 in the region of Kharakpur. Over the past five decades, five more IITs have been modelled after the resounding success of Kharakpur, each of them a beacon of success in their particular area of expertise. Alumni of these institutes have created an extensive network of high- powered management of MNCs all over the world.

Dr. Shyam Sethi is a visiting professor at the IIT in Delhi, with a vast background in the IIT system of education; he graduated from IIT Kharakpur, and got both his Masters and post-graduate degrees from the IIT. He talks to us about the qualitative advantage of the IITs in producing the world's most talented pool of engineers and programmers, and important lessons from the successful and failed practices of this system of education.

Shyam Sethi

The IIT stamp of quality: Cr me de la cr me

IIT has strong brand equity based on its indisputable reputation as the producer of the best brains in engineering and technology. One of the main reasons for this is the competitive entrance examination where really only the "cr me de la cr me" get in. Out of the 115,000 that appeared for the JEE entrance exam in 2001, only about 3,000 were accepted. This ensures that the caliber of students is exceptionally high.

Another thing maintaining this level of quality is what we call the midcourse correction system at IIT, which consistently evaluates IIT's system of education. One of the biggest concerns for the IIT system is how it can continue to maintain its position as India's pre-eminent institute of technological education and research development.

To address this issue IIT is considering ways to both accommodate more students and to maintain its characteristic level of qualitative output. Boundaries between disciplines are becoming increasingly blurred with the convergence and cross-fertilization of ideas. And IIT is struggling to accommodate an appropriate curriculum that covers new developments in reasonable depth.

The process of redefining the curriculum ^[18] on a continuous basis requires the active involvement of industry leaders who can ensure that the material equally covers the core essentials of their fields and relevant emerging trends.

Trends in the education curriculum at IIT: Meeting the quality challenge

The IITs are taking many steps to maintain this highly recognized level of quality. One of the newest trends is the incorporation of management as a subject. For example, Delhi has it own business school of management and now its graduates are not only India's top engineers, but also have a strong background in management. The Indian Institute of Management (IIM), in comparison, has a largely management focus.

I think that another important reason for IIT's reputation is the prestigious network associated with the school. A large number of Indians in very senior positions promote the creation of wealth through their vast informal networks. The basic premise is that if you've done IIT, you're good.

IIT ” A legacy of education

The students who graduate from the IIT recognize the legacy of this education. Successful alumni are giving back to their alma mater both financially and in terms of time and effort. For example, Vinod Gupta is one of the most successful Indians in the U.S. (founder of American Business Information, with a turnover of $250 million, employing over 1,800 people). After graduating from the IIT in Kharagpur he has committed $8 million to the Vinod Gupta School of Business Administration at IIT, Kharagpur, and one of the goals of this school is to have a computer in every room in the hostel. With 4,000 to 5,000 students, this is a tremendous commitment that requires more than just a financial grant. Emotional commitment and drive are critical elements in the success of NRI relationships with their alumni. In addition, the government plays its part by facilitating the funding of education at the Indian Institutes of Technology, making any kind of corporate sponsorship totally tax deductible.

The Indian government has realized that the production sector is not that viable anymore. There is an overwhelming consensus that IT must be promoted ” everyone knows the importance of the knowledge economy in India. And the advantage for Indians is that wherever they are, they feel Indian, they maintain their sense of traditions, their heritage, drive and humbleness.

Lessons for other institutes of higher education from IIT's successes and failures

There are some important lessons from the IIT commitment to becoming one of the most eminent engineering institutes in the world:

Maintain an exceptionally high standard of education: Educational institutes must never compromise on the quality of the intake of their students, and this can be maintained through a rigorous entrance examination system.

Maintain autonomy and independence: It is important for the IITs to remain autonomous institutes with no political or outside influence, so that they can continue to update the curriculum independently, with input from industry experts. The faculty and facilities at the IITs are the best possible in the academic field in India.

Be self-renewing through continuous assessment of educational facilities and curriculum: This has been a proven and successful system for the IITs, where the same teacher teaches and examines. Depending on the intellectual capacity of the students, the teacher can thus improve the standard to any level that the students can take.

On the negative side, the laboratories at IIT have unfortunately not been fully updated to keep pace with time as compared with Europe or the U.S. Also, students go for subjects where they can maximize the immediate gains. Careers for academic technology challenges are thus avoided, resulting in the failure of long term R&D gain.

IIT system of education: A successful experiment

The system of education at IIT is a wonderful experiment of free India; it has provided a very even playing field for aspiring and deserving students from every nook and cranny of this great country. Our role is to continue to carry out this vision.

Thus, major technical and scientific institutes of higher education like the IITs are an enormous asset for the growth of regional wealth creation in India. The competitive advantage provided by India's tremendous pool of highly skilled workers available at relatively low costs is one that Indians in this industry have understood and used for the purpose of getting their foot in the door in the IT sector. India's maintenance of the exceptionally high standard of these institutes, combined with planned efforts to double or triple this intellectual capital without compromising on their "brand equity," will be key markers of future success. For Indians, this is one way that the country's overpopulation is an advantage ” there is a tremendous amount of talent to choose from. An additional benefit is that the competitive spirit created by this environment requires a dedicated drive and ambition for each individual to stand out and succeed.

The Indian experience demonstrates that a nation's investment in its people through an excellent educational system is easily reimbursed by the students' lifetime capital value. Not only do Indians take pride in each other's successes, but also the opportunities for wealth creation for both the individual and the nation are tremendous. The success of graduates from the IITs both abroad and at home proves that given the right environmental factors, India could excel far beyond anyone 's expectations.

Shyam Sethi

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