Shashank Shah, Director and Senior Specialist at NITI Aayog, recently affirmed that research, innovation, and entrepreneurship will be the foundational pillars of ‘Higher Education 2.0’. He underscored the pivotal role universities must play in this transformation, aiming to position India as a developed economy by 2047.
Addressing the valedictory function of graVITas’25, the 16th annual international techno-management festival at Vellore Institute of Technology (VIT), Shah acknowledged India’s remarkable progress in expanding access to higher education over the past 75 years, with approximately 4.5 crore students currently enrolled.
“Under Higher Education 2.0, our core focus areas are research, innovation, and entrepreneurship, designed to propel the Indian economy into a developed status,” Shah explained. “In this pursuit, universities must evolve beyond traditional teaching institutions to become vibrant hubs of cutting-edge research, particularly in emerging fields such as Artificial Intelligence (AI), machine learning, and the Internet of Things (IoT).” He projected a significant increase in research investment, from the current 0.7% of GDP to 3.5% over the next 25 years, highlighting the critical contribution expected from Indian universities.
Shah also pointed to the impressive growth in India’s startup landscape as a clear indicator of successful innovation and entrepreneurship. In just eight years, the number of startups has surged from around 600 to an astounding 160,000. He noted that currently, about two percent of graduates from top Indian universities venture into entrepreneurship. While countries like the USA and UK boast higher rates (16% and 5% respectively), Shah expressed confidence that by fostering a robust entrepreneurial ecosystem within the higher education system, India can empower its graduates to become prolific job creators rather than merely job seekers through campus placements.
Also present at the event were Sharath Kumar Bache Gowda, MLA for Hoskote assembly constituency and Chairman of Karnataka State Electronics Department Corporation Limited (KEONICS), and Sekar Viswanathan, Vice-President of VIT.