How does the New Education Policy (NEP) 2020 aim to address significant reforms in higher education to achieve vision India 2047 and achieve global standards? Discuss.

The strength of higher education system is key to propel studies towards a 750 billion economy by 2047 and achieve vision status. Areas of Reform in higher education: (1) Financing: Stake stands 3% of GDP on education. Global average: 6%. (2) R&D focus: currently only 0.7% of GDP is spent. (3) Lack of multi-disciplinary heavy education (4) Industry-academia linkage is missing: 48% of India's graduate youth unemployable (India Skills Report) (5) Limited focus on locational training: Only 29% formally skilled, 82% in USA (6) Areas of Reform in higher education continue on next page

New Education Policy Attempt to Address Challenges: (1) Target of finances to 6% of GDP (2) Integration of vocational education in higher education (3) NEP has allowed flexibility in higher education by providing for multiple entry and multiple exit (4) Creation of an Academic Bank of Credit for lifelong learning (5) Calls for internationalization of education. Indian universities going abroad & foreign universities to India bringing best practices (6) Involvement of Private sector to increase R&D via Amanubhan National Research Foundation (7) Higher education institutions to be made multi-disciplinary

Lessons from international practices to enhance education: (1) Giving more autonomy: In countries like USA, UK, educational institutes enjoy high degree of autonomy in deciding courses, admissions, etc. (2) Promoting diaspora connect: Connecting with Indian diaspora will lead to more research collaborations and R&D financing (3) International collaborations can also bring latest techniques and pedagogy in learning and teaching (4) Collaborating with foreign institutions in faculty exchange and focus. Thus, learning from global practices and proper NEP implementation can make Indian higher education globally competitive.