"It's unfortunate that no Indian varsity is amongst the top 200 universities of the world. For shortage of good academic institutions, many meritorious students prefer foreign institutions for higher studies," Raju said addressing the third convocation of Central University of Orissa here.
"Necessary steps are to be taken to revive the lost glory of our higher education system as enumerated in our history and take at least a few of our varsities into the global top league," he added.
"Though, innovation is the key to future progress, the drive for innovation in our country is weak as we lack the systems that encourage and generate innovations," he said.
"There is a need to strengthen the system of research mobilisation, inter-disciplinary and inter-university research collaborations and industry-academia collaboration. Distributive justice, as a higher goal of democratic polity, can be achieved only through a sound education system," Raju added.
Noted social activist Padma Shri Tulsi Munda was conferred the Degree of Doctor (Honoris Causa) by the CUO and at least eight students of the varsity who have secured top positions in their respective departments were awarded the University Gold Medals for the academic session 2011-13.