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Education with technology, sincerity, hard work, and discipline are the key to success: Dr Bhagwat Karad, MoS Finance

Nov 18, 2022

  • Development of any economy depends on the education

NEW DELHI, 18 November 2022: Dr Bhagwat Karad, Minister of State for Finance, Govt of India yesterday said that the success of any developed or developing country depends on the quality of education, which is the core of everything. "To develop any economy, we need education particularly higher education," he added.

Addressing the '8th FICCI Higher Education Excellence Awards- 2022', Dr Karad said that technology also plays a critical role in the overall development of the country. He further urged the institutions to provide not just education but education which involves ethics, morals, and a spirit of helping the people as well. "In the competitive world, we have to ensure that different tools of education are also used effectively including digital platforms. India has one of the largest populations which is also an engaged population hence it is imperative to provide good education to them. If citizens are educated then the country can prosper," he stated.

Dr Karad also emphasized that education combined with technology, sincerity, hard work and discipline will lead everyone to greater heights. There are different opportunities to develop not just educational institutes but individuals as well and we must take lessons from global best practices. India with a large population is developing at rapid pace and is the fifth largest economy of the world, he noted.

Highlighting the importance of technology, the Minister stated that the government adopted technology in various schemes to introduce JAM (J-Jan Dhan account; A- Aadhar card; M- mobile) and because of the integration of JAM, the money is directly transferred into the beneficiary account. "The use of technology, and digitalization is increasing not only in the urban areas but also in the rural areas," he added.

Mr Arun Chawla, Director General, FICCI said that in the globalized world today, it is proven that education is a leading determinant of economic growth. Higher education specifically, has the potential to promote faster technological catch-up and improve a country's ability to maximize its economic output.

He also stated that India is witnessing a rapid transformation in the higher education landscape. The future of education could be an amalgamation of transformations driven by Education 4.0, NEP 2020, emerging student needs and new technologies. This calls for a need to redefine and reinvent higher education institutes, he added.

8th FICCI Higher Education Excellence Awards 2022 were announced during the event.


Category name

Institution name



Excellence in Faculty Development

Symbiosis International University



Excellence in Globalization of Education

Sharda University


Excellence in Enabling Research Ecosystem

Vishwakarma Institute of Technology, Pune


Excellence in Creating Employment Opportunities

Indira Gandhi Delhi Technical University for Women

C. V. Raman Global University, Odisha

Special Jury Recognition


Excellence in Institutional Social Responsibility

Vellore Institute of Technology

Hans Raj Mahila Maha Vidyalaya, Jalandhar

Special Recognition


Excellence in Professional Course Offering

Indian Institute of Teacher Education, Gandhinagar



University of the Year (10 to 30 years)

Indraprastha Institute of Information Technology, Delhi


University of the Year (30 years and above)

Tamil Nadu Agricultural University

Banasthali Vidyapith

Special Jury Recognition


Lifetime Achievement Award

Mr Rajendra Singh Pawar, Chairman and Co-founder NIIT Limited and Founder, NIIT University




Personality of the Year Award

Mr Mayank Kumar, Co-founder & MD, upGrad

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