The World Bank has approved a $255.5 million loan to assist India in raising the standard of its technical education and expanding the number of jobs prospects available to students.
More than 350,000 students will benefit annually from the project’s assistance of 275 government-run technical institutes over the course of the next five years, the US-based multilateral institution said in a statement.
India’s tertiary education has been expanding gradually, from 29 million students enrolled in 40,000 colleges in 2011-12 to 39 million students enrolled in 40,000 universities in 2019-20. Despite being one of the largest in the world, India’s tertiary education system has recently been found to have growing gaps in both technical and non-technical abilities like reasoning, interpersonal communication, and conflict resolution.
Through a stronger emphasis on research, entrepreneurship, and innovation as well as improved governance in technical institutions, the Multidisciplinary Education and Research Improvement in Technical Education Project will assist in increasing student employability and skills.
“As part of the project, students will get access to upgraded curricula including emerging technologies in communication and climate resilience. They will also benefit from better internship and placement services, including opportunities to network with professional associations,” the statement said.
“India has one of the largest and fastest-growing tertiary education systems in the world. The project will support the Government of India’s National Education Policy 2020, which calls for modernizing this critical sector to better prepare students for emerging jobs and business opportunities,” said Auguste Tano Kouame, the World Bank’s Country Director for India. “Improving female participation in technical education will receive special attention,” it said.
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