CHENNAI: Vellore Institute of Technology (VIT) founder and chancellor G Viswanathan on Saturday said that in a country of 145 crore people, only about 10% are graduates. Speaking at the convocation of VIT Chennai, Viswanathan said the country lagged in educational progress since higher education is largely funded by parents while the government’s allocation for education as a percentage of GDP remained low.
Highlighting the country’s demographic dividend and its potential to surpass Germany and Japan to become the third largest economy, he said the youth could drive economic growth only if the state and union governments invest more in education.
Union Minister of Coals and Mines G Kishan Reddy, in his convocation address, highlighted the role graduates will play in leading India towards its 100th year of independence in 2047. With the nation aiming to become a $5 trillion economy, he stressed the growing need for skilled professionals. He urged the graduates not to merely seek jobs but create them. Chetana Patnaik, Chief Human Resources Officer at LTI Mindtree, spoke on challenges graduates faced during the pandemic.
Viswanathan inaugurated new buildings during the event. A total of 3,056 students, including 38 gold medallists, received their degrees. VIT vice-presidents Sankar Viswanathan, Sekar Viswanathan, executive director Sandhya Pentareddy, assistant vice-president Kathambari S Viswanathan, V-C VS Kanchana Bhaaskaran and pro-vice chancellor T Thyagarajan were present.