FOSAAC NEWS LETTER - QUALITY HUMAN CAPITAL IS THE DRIVER

1. HRD or Human Resource Development is the most important factor when comparing India i.e. to Germany, Japan & S. Korea. In S. Korea the Deputy PM is the Education Minister! Education is the key driver!
2. Literacy in India is hardly 61%. It is estimated to be still lower as per international norms of definition.
3. The school drop-out rates in India prove this point. It is estimated to be about 90% from KG to 12^th.
4. Vocational Education & Training is hardly in existence in India. We have many people of young age; but they have no skills and therefore are not employable! China has 500,000 Vocational schools.
5. Higher & Technical Education takes a big beating in India. The Indian government is not able to provide primary and secondary education for the youth of India, but wants to control higher education!
6. Higher and Technical Education including Medical education is highly controlled from the centre; there is acute shortage of seats and of opportunity of high quality and ample capacity of all forms of Higher & Technical education, including Vocational Education & Training. Tuition/coaching are for profit.NOT education!
7. Nearly 99% of all entrance examination participants in the IIT's and IIM's are rejected due to capacity constraints! The rejected top 40% get admission anywhere in the world provided they pay for it!
8. Nearly 160,000 students leave India every year for H&TE to overseas universities resulting in a foreign exchange out flow of about US$ 10 billion per yr. This amount is sufficient to build 40 IIM's or 20 IIT's per year! Rationing of Higher education seats leads to a 'Black Market' and the menace of 'Capitation Fees'.
9. Human development Index is very low in India leading to multiple problems such as corruption, population, poverty, unemployment, productivity, environment, HIV/AIDS, primary health, infant mortality, terrorism, etc.
10. If India has to grow into a Developed Nation, it must put its 'House in Order' in the form of high class education in Primary, Secondary, Vocational & Higher Education.
11. Quality Human Capital is the driver!