TRANSFORMING INDIAN HIGHER EDUCATION FOR A GLOBAL KNOWLEDGE ECONOMY

India’s higher education system, despite its historical legacy of knowledge
creation, faces structural rigidities that impede the development of
a robust knowledge economy. These include inadequate industry
academia linkages, low employability of graduates, insufficient research
standards, and limited interdisciplinary approaches. Historically,
India contributed significantly to global GDP (24% at the onset of
British colonization), but its share has declined to 4.7% today, despite
a population constituting 17.7% of the world’s total. This paper
analyzes rigidities in India’s education system, leveraging economic
theories, historical perspectives, and contemporary data to propose
strategies for alignment with a knowledge economy. By tapping its
young population and fostering innovation, India can strengthen its
position as a global knowledge hub. Drawing on global models such as
those in Singapore and South Korea, the paper introduces the Higher
Education Knowledge Economy Model (HEKE Model) to address
these challenges and align India’s education system with the demands
of a knowledge economy.