India requires $400bn investment in education sector: Sibal

Human Resources Development Minister Kapil Sibal, who is officially visiting Britain on educational mission, told British ministers and university vice-chancellors that India requires a total investment of $400 billion in the education sector over the next decade. He added that the country considers educational advancement to be equally important as economic growth in ensuring India’s progress.

In the course of his meeting with three cabinet ministers and sixteen vice-chancellors in London, Mr. Sibal also gave a detailed picture of India’s educational plans. He would also meet heads of various schools to discuss on how to take education to the under-privileged sections of society.

The collaborative ventures signed with British universities are sure to help the United Progressive Alliance (UPA) government in finding funds for the construction of the proposed 30,000 colleges and 900 universities by 2010.

Britain, which plays a major role in providing quality education at global level, has expressed its willingness to help the Indian institutions. Mr. Sibal welcomed the offer and added that high quality education is strongly associated with economic growth. He said that India is reaching out to other countries for ensuring quality education to its young generation.

Sibal made this statement after signing seven agreements for collaboration with British higher education institutions.

While attending the round table conference with British ministers, Sibal promised that legislation guaranteeing foreign institutions a level playing field with the 'unaided Indian private sector' would be enacted soon.

Together with Pat McFadden, Britain’s minister for business, skills and innovation, Sibal made it clear that in the post-recession phase, those who have invested in the skills and talents of their people would be far better equipped to create a stronger, more innovative and competitive economy.

Both the ministers felt that the shared challenges faced by both India and Britain in the present global knowledge economy, make such collaborative ventures between these countries more relevant.