{"id":34828,"date":"2018-10-31T13:28:52","date_gmt":"2018-10-31T07:58:52","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=34828"},"modified":"2018-10-31T13:28:52","modified_gmt":"2018-10-31T07:58:52","slug":"for-a-knowledge-economy","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/for-a-knowledge-economy\/","title":{"rendered":"For a knowledge economy:\u00a0"},"content":{"rendered":"<p><a href=\"http:\/\/www.thehindu.com\/todays-paper\/tp-opinion\/for-a-knowledge-economy\/article19782433.ece\"><span style=\"font-weight: 400;\">For a knowledge economy<\/span><\/a><span style=\"font-weight: 400;\">:\u00a0<\/span><\/p>\n<p><b>Context <\/b><\/p>\n<p><span style=\"font-weight: 400;\">India needs to do much more than investing money into higher education institutions to create a knowledge ecosystem in the country.<\/span><\/p>\n<p><b>Creating a knowledge ecosystem in India<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">For knowledge to translate into a wealthy society, we need to create a conducive knowledge ecosystem, which is currently missing from our national plans. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Institutions of higher education help in creating such an ecosystem, and improve a nation\u2019s productivity and wealth.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">India plans to pump in over <\/span>Rs. 10,000 crore to build 20 world-class higher education institutions<span style=\"font-weight: 400;\">.<\/span><\/li>\n<\/ul>\n<p><b>Importance of knowledge-intensive industries<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Growth and productivity could not be explained only by capital and labour. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">This differential they attributed to the knowledge content of an economy. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Today, knowledge-intensive and high-technology industries contribute the most to long-term growth. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">It is no accident that U.S. accounts for 33% of global output of <\/span>knowledge-intensive services<span style=\"font-weight: 400;\">, China 10%, but India only 2%. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">In high-technology manufacturing, India barely exists. A lot needs to done therefore. <\/span><\/li>\n<\/ul>\n<p><b>What is the role of institutions in creating a knowledge ecosystem?<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">The creation of a knowledge ecosystem that allows for robust institutions that focus on information gathering, planning, research, teaching, credit supply, and ensuring that people are filled with hope rather than derision for the society in which they live will make a society wealthier. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Institutions can generate an ecosystem for innovation in many ways: by providing access to knowledge capital, an atmosphere of inquiry, and an experimental environment where those ideas can be tested.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\"> Given that the success rate of ideas is low, ideas need to be tested constantly. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">For reality testing, we need collaboration between academic researchers and the users of that knowledge, industry, and government. It is this interface that is rather weak in India.<\/span><\/li>\n<\/ul>\n<p><b>Translating research into technology<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Even with a low <\/span>funding to research as percentage of GDP,<span style=\"font-weight: 400;\"> with very few Indians taking to formal learning and research, India still accounted for 4.4% of the global output of science research publications in 2013.<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Translating this research into technology remains the weak link. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">For that to happen, the latest suggestion in the choice-based credit system<\/span> <span style=\"font-weight: 400;\">is to include project work at all levels in higher education institutions.<\/span><\/li>\n<\/ul>\n<p><b>Way Forward<\/b><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">We need to ensure ease in movement of personnel between universities and industry. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">However, there are two obstacles in facilitating this. One, outdated service conditions in the government sector discriminate against people who make such lateral shifts. Two, completely artificial labels exist that distinguish between private and government-owned entities in funding for higher education. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Institutions like the Indian Institute of Science, the Indian Institutes of Technology, and Christian Medical College and Hospital, Vellore are all proof that that such categories make little difference to the quality of research and graduate outcomes. <\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">We need to provide more <\/span>autonomy to public institutions<span style=\"font-weight: 400;\"> in hiring and firing people. And once an institution is given a grant, we need to ensure that it is utilised for the purpose given.<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>For a knowledge economy:\u00a0 Context India needs to do much more than investing money into higher education institutions to create a knowledge ecosystem in the country. Creating a knowledge ecosystem in India For knowledge to translate into a wealthy society, we need to create a conducive knowledge ecosystem, which is currently missing from our national&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/for-a-knowledge-economy\/\">Continue reading <span class=\"screen-reader-text\">For a knowledge economy:\u00a0<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[555],"tags":[],"class_list":["post-34828","post","type-post","status-publish","format-standard","hentry","category-test-1","entry"],"jetpack_featured_media_url":"","views":{"total":1,"cached_at":"","cached_date":1700566252},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/34828","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=34828"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/34828\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=34828"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=34828"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=34828"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}