"We are at a point when the dynamics of our population growth can catapult us into a prolonged cycle of rapid economic growth,'' said Singh. "The reality at the moment is that around 10 per cent of the relevant age-group is enrolled in any institute of higher education as compared to 40-50 per cent in most developed economies. In almost half the districts in the country, higher education enrolments are abysmally low and most importantly, there is a nagging fear that university curricula are not synchronised with employment needs," Dr Singh said.

Dr Singh noted that the Mumbai varsity which began as the University of Bombay has given scores of eminent scholars, scientists, industrialists, administrators and professionals in all walks of life. "No wonder it is rated among the top-500 universities in the world," Dr Singh observed.

Dwelling on the government's plans to improve higher education Dr Singh noted that his administration has sanctioned the setting up of six Indian Institutes of Science in addition to the one already in existence. The Prime Minister acknowledged that educational institutions across the country were not upto the mark.

The PM also called for universities to tap into the large pool of Indian origin teaching manpower spread across the world's universities. "I do believe our universities need and deserve better leadership and more transparent, efficient and liberal governance systems. I also believe that a university should be a community imbued by the values of liberalism, pluralism, secularism, social justice and the pursuit of excellence," Dr Singh said.