Abstract
In this 21 st century many multinational corporations (MNCs) started moving to Asian countries both for design and manufacturing due to globalization of economy, raising middle class,desire to efficiently serve the local and export markets, and utilizing the availability of competent human capital. It is assessed that no industry would provide any donationto the institutes but ready to pay for the excellent services availed. From a comprehensive research, it is found that with the availability of large number of autonomous institutes, national institutes, and technical universities in India, there is a great opportunity to establish Industry-Academies-Government Partnership through executive education, research collaboration, product development and testing. Further, there is a need for dedicated centers of industry-academy-partnership with satellite units in the industrial hubs and corridors with enabling policies and empowered high performing faculty. The institutions have to extend support for mutual benefits so that the corporates can benefit from one-stop shopping and integrated research and development. The industries would support development and share the industry relevant outcome. The institutions have to charge the industry based on the realistic financial proposal based on the terms of reference (TOR). The institutes have to prepare business plans for various technical services like developing the executives and offer relevant services like testing, and extending the expertise. The institutes could develop separate units for offering technical services through dedicated satellite centers in collaboration with networked institutes, if required. Such an approach would enable the rural institutes to overcome the difficulties due to far off location from the industrial hubs.
Highlights
In the last twenty years, many developments have impacted engineering institutions due to globalization of Indian economy, entry of multinational companies (MNCs) and global outlook for engineering curricula
The Ministry of Human Resource Development has assisted the government and government aided colleges through two World Bank assisted projects to improve the quality of technical education
The software companies have contributed to the Indian economy by their exports
Summary
In the last twenty years, many developments have impacted engineering institutions due to globalization of Indian economy, entry of multinational companies (MNCs) and global outlook for engineering curricula. Considering the human resource requirements to meet the industrial developments,many self-financing institutions in engineering have emerged. The institutes need to implement strategic planning, improvements in the educational administrative process, decentralization, empowerment to the key faculty members who plan and develop the consultancy projects.Considering the needs of growing competent human capital, Ministry of Human Resource Development has established more Indian Institute of Technologies, Indian Institute of Managements, Indian Institutes of Information Technology, Indian Institute Information Technology and Design, Indian. The software companies have contributed to the Indian economy by their exports All these demand high quality human resources and institutions which are capable of undertaking consultancy projects in product development, testing, and improving. The MNCs would like to offer many programs on design related employee development to the engineering colleges, testing of materials, design of ancillary components, prototype developments, and research.
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