A higher rank improves morale, enhances job prospects of students and helps attract both quality faculty and meritorious students, he said in his address here at the second convocation of the Central University of Karnataka.
"It is a matter of great satisfaction that for the first time, two Indian institutions have figured amongst the top 200 universities this year. I hope other Indian institutions would follow suit," Mukherjee said.
Nations have since the times past overcome poverty, social ills and economic turmoil to push their productive frontiers on the foundation of a robust education system, he said.
In ancient India, a thriving culture of knowledge generation and propagation existed, backed by such renowned seats of learning as Nalanda, Takshashila, Vikramashila, Valabhi and Odantapuri, which were a melting pot for scholastic pursuits of learners from far and wide, he said.
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"The scenario is quite dissimilar now. Our institutions of higher learning lag behind many in the international rankings brought out by reputed agencies," the President said.
Adding that world-class education was feasible only with world-class faculty, Mukherjee stressed that faculty development must be the top priority for institutions.
"In the context of teaching, we have to overcome the twin challenges of closing the vacancy gap expeditiously and also attracting meritorious people to this profession. A flexible approach to mitigate shortage of teachers is needed," he said.
Adjunct faculty from industry and research institutions can be hired, he said, adding that they would provide an industry orientation in the higher education pedagogy.
Noting that over 40 crore students are likely to seek
education at different levels by 2016, Mukherjee said the education system has to gear up to meet the 'triple challenges' of accessibility, affordability and quality.
"This task is compounded by the fact that 30 crore youth have been envisaged for skills training by 2022," he said.
Mukherjee said technology-led models could offer a viable solution in the education and skills delivery landscape and cited the Massive Open Online Courses (MOOCs) which have come up in a big way since it first started in 2008.
Leading universities of the world have applied this technology model to provide quality education to larger number of education seekers.
He said mobile phone technology can also act as an enabler for formal and vocational education. Skills training apart, education content from best institutions can be made available on mobiles.
"E-platforms cannot substitute classroom teaching but it can perhaps play a complementary role. ICT tools like the National Knowledge Network have to be used extensively for collaboration of ideas, knowledge and academic resources," he said.
"Our universities have to be the breeding grounds for creative pursuits and cutting-edge technology. They have to inculcate in their students a scientific temper and a spirit of enquiry. Research promotion at the under-graduate level could facilitate this objective," he said.