The Confederation of Indian Industry (CII) organized the 5th Edition of its annual & flagship Conference on Higher Education, Edu Summit 2015 on 5 August, 2015 in partnership with the Government of Haryana and the Indian School of Business (ISB).
A CII-ISB publication titled ‘Moving Towards Knowledge Based Economy: Basic Imperatives & Agenda for Reforms’ was released against the backdrop of the aforesaid conference.
India’s aspirations and need to move towards a knowledge-based economy has long been articulated by several commissions, thought leaders, and institutions. A knowledge based economy (KBE) has been thought to be a crucial factor for sustained economic and social development of India.
The publication dwells upon the ‘Triple-Helix Model of Innovation with the entrepreneurial university being a central concept to the model. The ‘Triple Helix’ thesis is that the potential for innovation and economic development in a knowledge society lies in a more prominent role for the university and argues that universities, industries and government should collaborate on an equal footing to ensure sustained economic growth. The document further elaborates on the ‘entrepreneurial university and its third mission’ – involvement in socio-economic development, next to the traditional missions of teaching and research and also moving towards a KBE. Further, two elements essential for universities to become part of a KBE – Mode 2 Knowledge Production and Graduate Student Socialization – are discussed. Given the conceptual models described, suggestions for a basic agenda for reform for the higher education sector in India and moving towards a knowledge-based economy are outlined.