Prof D Mukherjee

The world witnessed three Industrial Revolutions that reshaped the global economy contributing significantly to socioeconomic development indicated by human development index worldwide. Socioeconomic development is an ongoing journey.

Each Industrial Revolution, beginning in the late 18th century, brought technological disruptions and job displacement, transforming how firms and individuals interact with job markets and redefining the relationship between technology and work output.

This write-up aims to assess India’s readiness to participate in the Fourth Industrial Revolution and benefit from the Artificial Intelligence-driven era. According to the World Economic Forum’s Future of Jobs Report 2023, 23% of global jobs are likely to change in the next five years, with a 10.2% job growth and a 12.3% decline, leading to a net negative growth of 2%, potentially harming the socioeconomic well-being of global labour market participants.

India, is a major exporter of both blue and white-collar labour. The employers are likely to create 69 million new jobs while eliminating 83 million. The primary cause of job displacement is skill deficiency and professional incompetency in the current labour market to meet the new economic order influenced by technological disruption and AI.

The question arises: who will prepare, mentor, and equip the labour force with the necessary skills for the AI era? The simple answer is -Teachers, Professors, Trainers, and Mentors.

The Economic Survey for 2023-24 observed that nearly half of Indian graduates are unemployable, posing a significant challenge to India’s goal of becoming a global economic superpower by 2047.

Research shows each Industrial Revolution caused job losses for those susceptible to automation and unable to adapt to new technologies. Thus, skilling and reskilling are crucial to maintaining relevance in modern labour markets.

The Indian education system faces challenges in governance, administration, and teaching methods and quality of teaching -learning process, which hamper knowledge cultivation. India has about 1200 universities and institutions, including IITs, IIMs, NITs, and professional bodies like ICAI, ICMAI, and ICSI, mandated to develop professional competency.

Regulatory bodies like UGC, BCI, NMCI, CoA and AICTE oversee these institutions. Despite the introduction of NEP 2020, its implementation faces hurdles, and rapid technological changes question its effectiveness in bridging the skill gap. The competence of educators is also crucial.

While books provide information, knowledge is created through experience. Information alone cannot solve problems; it serves as input in the knowledge creation process, emphasizing the importance of experienced educators in developing professional competency.

Let’s examine the higher education delivery system in India in the post-privatization and globalized era. Out of approximately 1200 higher education institutions, over 50% operate as private universities or institutions under the regulatory oversight of UGC, AICTE, NMCS, BCI, etc.

The teaching faculty is categorized into three levels while adopting 6th CPC: Assistant Professor (Grade 1: Rs 15600-39100, AGP INR 6000; Grade 2: AGP 7000; Grade 3: AGP 8000), Associate Professor (Rs 37400-67000, AGP 9000), and Professor (Rs 37400-67000, AGP 10000; HAG Professor Rs 67400-79000, AGP 12000).

According to the 7th CPC, Level 10 (Rs 57700), Level 13A (Rs 131400), Level 14 (Rs 144200), and Professor at Academic Level (HAG) Rs 182200 replaced and substituted the scales and benefits of 6th CPC.

Regulatory authorities claim that faculty compensation adheres to norms, though adherence to the 7th CPC is rare, with most following the 6th CPC. Typically, an Assistant Professor earns Rs 15000-20000, an Associate Professor Rs 30000-35000, and a Professor Rs 40000-50000 per month, with few exceptions offering higher pay.

The qualifications for university and college teachers in private universities include a minimum of 55% Marks at the postgraduate level, NET/SLET for appointment of an Assistant Professor and five years of experience with a PhD for Associate Professors and Associate Professor with three years’ experience and supervision and guidance of at least one PhD criteria for higher position such as Professor. In practice, these standards are rarely met.

The disparity in treatment is attributed to the self-financing nature of private institutions, which receive no Government grants. Despite charging significantly higher fees than public universities, private institutions often do not allocate adequate resources for salaries and operational expenses.

This discrepancy invites further research into the financial practices of private institutions compared to their public counterparts. What percent is the OpenX of total revenue earned? It may not be inappropriate to advocate that ‘Quality has Cost.’ What is the ROI of these sectors?

For instance, the manufacturing sector’s ROI varies between 15 to 20%, while in the service sector, it is 20 to 25%. Do Government and regulatory authorities have authenticated information about the ROI before tax? Most private institutions operate under a trust, which must submit annual Income Tax Returns under Section 139 of the Income Tax Act, 1961.

A trust (registered under section 12A) is allowed an exemption of 15% of total revenue earned in the previous year under Section 11 of the same Act. Does the Government know the sources of such investments in buildings and other physical facilities by the sponsoring trusts of private institutions and universities?

In the USA, very few universities are public or Government-funded. Most, including Harvard, MIT, Stanford, University of Chicago, and Princeton University (where Albert Einstein spent his career from 1933 until his death in 1955), are private. People round the world know what these Institutions are doing over centuries.

Public and Government-funded universities and institutions of higher learning often lack conducive environments for teaching, research, and learning. Infrastructure is not up to the mark, teaching-learning methodologies are outdated, and research output is minimal.

Regular classroom lectures and teaching delivery are not encouraging across the country. A couple of months ago, the UGC Chairman expressed concern that meritorious, passionate, and dedicated people should join academics, highlighting a void in higher education.

The Chairman has rightly pointed out the reality on campuses. But what is next? Whose responsibility is it to oversee this? It is high time for Governmental, regulatory, and policy-making authorities to revisit, review, and revamp the entire education delivery system without further delay.

Otherwise, it seems a dream for India to reap the benefits of the Fourth Industrial Revolution. Specifically, the Government and regulatory authorities should address the existing chaos in the education system and not wait for further deterioration. Corruption is prevalent, though the formats may differ.

Indian higher education is quantity-driven, with quality remaining unaddressed, as evidenced by the Economic Survey Report 2024, which states, “Out of every two college graduates, only one is employable.”

Today’s workforce must be well-acquainted with the latest technology adoption and application in almost every sector of the economy, including cyber-physical systems, Internet of Things, Big Data, Nanotechnology, and

Network. The major constituents of the Fourth Industrial Revolution include machine learning, AI, blockchain, genetic engineering, quantum computing, advanced analytics, automation, and advanced manufacturing technology.

Given this evolving revolution, the future of job markets in India cannot remain isolated but is likely to undergo significant transformation, as is already happening worldwide.

Scrutinizing private universities and institutions is essential to prevent the exploitation of teachers and professors through inadequate salaries and benefits. This exploitation deters talented educators and researchers, hindering quality improvement in higher education and stalling knowledge creation.

Policies should mandate fair compensation and benefits to attract and retain top talent. Immediate Government and policymaker intervention can reform the higher education landscape, fostering an environment conducive to excellence. By addressing these issues, India can enhance educational quality and innovation, positioning herself as a leading economic power by 2047.

India faces significant policy challenges in harnessing the benefits of the Fourth Industrial Revolution. Outdated curricula, incompetent faculty, and inadequate technological integration hamper higher education. India must overhaul the educational system, ensuring accountability for regulatory and standards-setting bodies.

Policies should focus on updating curricula, enhancing faculty competencies, and integrating advanced technologies. By aligning education with global standards, India can create a workforce of exceptional quality, poised to leverage the opportunities of the Fourth Industrial Revolution and drive economic growth.

(The author is an Educationist and a Management Scientist)