'PSUs doing a social function'

Experts, at a youth forum here on Friday, spoke about issues such as jobs versus profits, and the need to make education relevant to the industry.

Shaping Young Minds, a seminar organised by the All India Management Association, drew participants such as the chairman of Oil and Natural Gas Corporation and editor-in-chief of The Indian Express, a national daily.

Public sector units were doing better than the private sector ones, for society, said Subir Raha, chairman and managing director, ONGC. He was addressing a gathering of young professionals and young minds at the seminar 'Shaping Young Minds', an initiative of the All India Management Association (AIMA).

"It is the social functions and not merely the single-minded aim of earning profits that matter. Job creation is one of the most important of jobs of these public sector units," he added.

The Indian education system came in for some criticism from Shekhar Gupta, editor-in-chief, The Indian Express. Gupta said that the courses offered today are most often short of needs.

"There is a mismatch between what the industry needs and what is offered," he added. What is required is that we produce more people with technical skills.

But, the courses offered are such that we do not produce enough of such people. We produce far too many people holding degrees that concentrate more on academics. These disciplines do not help them secure jobs. They do not fit the industry as their skillsets are far short of needs.

Concurring with him was a delegate at the seminar, a management student, who said that to make up for the shortfall in skillsets, it is the colleges that have to take the initiative.

"Our college holds seminars and such other interactions with people from the industry," he added.