"We are having 43 central universities managed by the ministry of Human Resource Development (HRD)...I find there is a shortage of faculty to the extent of 38 per cent in these universities.
"I have requested the HRD minister to take expeditious steps in filling the vacancies. We require quality teachers and we must provide incentives, so that bright students join the teaching profession," Mukherjee said while speaking at the convocation ceremony of the Central University of Rajasthan.
He also said, at a time of fierce competition, innovation has to be encouraged and that there was a need to expand the physical infrastructure related to education and also raise its quality.
The President noted that in a recent survey conducted by an agency, none of the country's top educational institutions figured among the world's top 200.
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This was not always the case and at one time Indian universities like Takshshila and Nalanda attracted scholars from around the world, Mukherjee said.
"In contemporary times marked by technological and economic advancement, knowledge is an important channel for shaping the destiny of nations," he said.
"Economic growth depends on a successful mobilisation of the knowledge economy, which in turn has its basis in a robust education system," he added.
Addressing the students who had graduated, Mukherjee said, the nation had invested in them, but did not want big sacrifices in return.
The nation only asks you to understand your duties and responsibilities well, he said.