Infosys founder says it would cost India $5 billion annually.
By Sreekanth A Nair
Infosys founder N.R Narayana Murthy on Friday said that there should be an agreement between India and the United State that allows 10,000 Indian students to pursue their doctoral degrees in the US with the condition that they will return to India after completion of their studies. These students would help India to build a knowledge hub, he surmised.
“However, before we start this we have to work out an agreement with the US that these students whom we send from India will not be given employment in the US once they finish their Ph.D. and they will have to come back to India and serve India for at least 10 years,” Murthy said, speaking at the Indo-American Chamber of Commerce (IACC) meet in Bengaluru.
“Greater collaboration between the two countries in these areas, especially in research at the university level and hi-technology will lay a strong foundation for our country’s growth in the long term,” Murthy said in his keynote address.
Murthy thinks that the program may cost $5 billion every year to India, but the benefits from the program would be received in the future.
“Leaders of both countries have also to agree to send about 10,000 students (1,000 students in 10 areas of STEM or Science, Technology, Engineering, and Math) every year to do Ph.D. in important areas in the US for the next 50 years. This will cost us $5 billion a year, which is less than 0.25 percent of our GDP. It is a small sum but will yield enormous benefits to us in the long term,” he noted.
Murthy wanted to revive the program to set up innovation universities where students will be able to study in foreign universities easily. The program was there on the agenda of the United Progressive Alliance (UPA) government 11 years back but didn’t take off.
“There is no doubt that the US is undisputed number one in the world of higher education and research. For us to make our PM’s dream of Make in India a success, we have to succeed in ‘Discover in India’ and ‘Invent in India’,” added Murthy.