India rapidly becoming a global R&D hub: Study
India is rapidly becoming a global R &D hub, with a momentum and on a scale akin to what it achieved in information technology. Day in Pics I | Business Humour
By PTI |
WASHINGTON: Despite low science and engineering student graduation rates and widely varying education quality, India is rapidly is becoming a global R&D hub, with a momentum and on a scale akin to what it achieved in information technology, says a new study.
The study, released by Kansas-based Ewing Marion Kauffman Foundation, asks whether it is time for the US to learn from the experiences of its "former disciple" India.
"India's private sector has overcome its education system's deficiencies by adapting and perfecting the best practices of Western companies and integrating them through innovative workforce training and development programmes," the Foundation said in a statement.
According to "How the Disciple Became the Guru", the analysis conducted by Duke University's global engineering and entrepreneurship project team, Indian senior corporate executives have implemented company-wide workforce development initiatives that have dramatically improved productivity and performance.
"They have, in essence, developed a surrogate education system by helping to create, for a variety of industries, skilled labour pools capable of handling very complex work," the statement said adding, the study has broad implications for the United States.
The study, released by Kansas-based Ewing Marion Kauffman Foundation, asks whether it is time for the US to learn from the experiences of its "former disciple" India.
"India's private sector has overcome its education system's deficiencies by adapting and perfecting the best practices of Western companies and integrating them through innovative workforce training and development programmes," the Foundation said in a statement.
According to "How the Disciple Became the Guru", the analysis conducted by Duke University's global engineering and entrepreneurship project team, Indian senior corporate executives have implemented company-wide workforce development initiatives that have dramatically improved productivity and performance.
"They have, in essence, developed a surrogate education system by helping to create, for a variety of industries, skilled labour pools capable of handling very complex work," the statement said adding, the study has broad implications for the United States.
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"To maintain its global competitive edge, the United States should perhaps learn from India," said Robert Litan, vice president of Research and Policy at the Foundation.
"America needs to couple its education system -- among the best in the world -- with an investment in upgrading workforce skills. In a global economy, this approach is critical to remaining innovative and competitive over the long term," Litan added.
The study has detailed the best practices of 24 companies in emerging sectors in India that have managed to grow rapidly despite skills shortfalls and talent shortages.
These companies have created comprehensive and integrated systems of talent development and management that combine recruitment, training and development, performance management and employee-engagement initiatives.
"Indian competencies in technology have helped them not only to develop systems by which to deliver online learning, but also to conduct skills forecasting; track and analyse recruitment and attrition data; conduct online performance reviews; communicate with employees; and share knowledge."
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It has been observed that Indian companies are also finding innovative ways to collaborate with educational institutions to develop necessary "talent pools".
"Because they are investing in, cultivating and empowering their employees, Indian companies can hire bright but largely inexperienced talent and train them to be world-class engineers and scientists," said Vivek Wadhwa, executive-in-residence for the Pratt School of Engineering at Duke University and the study's lead author.
"India is proving what a nation can achieve when it invests in upgrading the skills of its workforce," Wadhwa, also a fellow at the Labour and Worklife Programme at Harvard Law School, said.
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