Mumbai: The Free Press Journal, Mumbai conducted its inaugural award ceremony for the Mumbai Schools Survey 2022, which felicitated schools across the city for their achievements across different categories such as Learning and Teaching, Sports Education, Vocational Education and Skilling, Parental Engagement and Community Outreach, Digitalisation and Technology, and Sustainability and Inclusivity.
Keki Mistry, the CEO and Vice Chairman of Housing Development Finance Corporation, also known as HDFC, graced the ceremony as one of the Chief Guests and spoke about the current education space in India at length while highlighting NEP 2020, post-pandemic learning, financial literacy and much more. Here are the excerpts from the speech:
Let me, first of all, thank the Free Press Journal for inviting me here today. I would also like to congratulate all the schools that have been recognised by Free Press Journal’s first Mumbai schools survey.
Schools in Mumbai are renowned for imparting high-quality education to their students. I am a proud alumni of Campion school.
Campion was the place that laid the foundation of who I am today. Principals and Teachers always guided me to take the right path and provided me with invaluable knowledge and taught me principles that I still hold very dearly. Campion taught me the importance of playing fair and at the same time being competitive.
India has made significant strides in the field of education. We have produced several global leaders who are spearheading reputed international companies. Many of these leaders have advanced to the pinnacle of their profession despite coming from normal middle-class backgrounds and receiving a typical Indian education. They have proved that there is no substitute for hard work, perseverance, and determination.
The National Education Policy (NEP) will be a game changer in reforming our education sector. The policy encourages holistic development at all levels including pre-schools, schools, and higher education. Amongst other initiatives, the policy focuses on foundational literacy and numeracy as well as on vocational education. For classes 10th and 12th board examinations, core competencies rather than memorised text will be tested.
I do understand that the teaching process is a complex subject with a long history of different approaches which have been adopted by various countries. In this regard, our government needs to be commended for continually focusing on policies that aim to deliver high-quality education. In my opinion, the implementation of the National Education Policy will pay huge dividends in the future.
Post the pandemic, I am delighted to see that students are going back to school in person. The biggest learning comes from mixing and bonding with friends, interacting with teachers, performing at school functions, and playing competitive sports. The joy of going to school is irreplaceable and an important component of building character and life experience.
However, digital learning is here to stay and I believe will coexist with the physical mode. The trend of online learning started a few years ago but the onset of the global pandemic has accelerated the switch to virtual classes. There are now specialised online global schools focussed on teaching skills required for the current generation.
Investors are reposing their faith in these online schools by providing capital which shows that there is a strong belief that this mode of education is here to stay. A collaborative blended model of digital and physical learning is likely to be the new normal in the years to come. In fact, some colleges in India have recruited professors from renowned universities from abroad who regularly conduct virtual classes.
I have put together some thoughts for schools to consider to further enhance the quality of education. I am sure many of the schools present here today have already implemented them:
1] Firstly, due to the high focus on examinations, few schools lay emphasis on innovation, out-of-the-box creative thinking, and soft skills such as public speaking. Hence, along with standard education practices, schools should also focus on creative and experimental learning.
However, one should not move away from the current emphasis on examinations. Our landscape is so competitive and with volumes so high, percentages or scores obtained appear to be the best evaluation criteria as of now.
2] Secondly, exposing students to 21st-century skills will be critical. These include introducing students to new technologies such as robotics, Artificial Intelligence, climate change, liberal arts, and a greater focus on Science, Technology, Engineering, Finance & Mathematics. These tools will be a differentiator for securing jobs or starting entrepreneurial ventures.
Similarly, teachers need to be encouraged to continually develop their skills. Investment in the capacity development of teachers is necessary and they also need to be thoroughly familiar with the requirements of the New Education Policy.
3] Thirdly, schools should continue to put a strong emphasis on values like honesty and integrity. Such traits need to be instilled right from an early age. These core values ultimately define a person and enhance a school's reputation.
4] Fourthly, some schools do not address the mental well-being and learning problems faced by students. Addressing such issues will ensure positive learning outcomes and the long-term well-being of students.
5] Lastly, we face a huge lacuna in addressing financial literacy. Schools need to conduct special classes on financial education. Such steps will help our future generation to appreciate the value of money, understand the benefits of savings, and make sound investment decisions.
I wanted to stress the fact that this is the best time to be in India. According to most estimates, India’s GDP is expected to grow by around 6.8% in FY23. India will thus continue to remain the fastest-growing major economy. India offers economic growth at a time when there is not much growth elsewhere. As the Managing Director of IMF said and I quote, “India continues to be a bright spot in the global economy, despite the global uncertainties and headwinds.”
The present generation of school students will be the biggest beneficiaries of the opportunities that it will throw up. Indian students are respected worldwide for their aptitude and international universities always welcome them. Even students with financial limitations can go to reputed colleges because of the education funding options available from Indian banks and financial institutions.
Once students receive their higher education, they must seriously consider working or starting their own business in India. There is no better place to be in the world than India both now and in the years to come.
The opportunities today are enormous - something my generation missed out on. What distinguishes India from others is our young demographics. Today’s India is a young India. More than 50% of our population is below the age of 25 and more than 66% is below the age of 35. There is a huge untapped demographic dividend and government policies are being geared towards realising this dividend.
Once again, I would like to congratulate all the schools that have participated in the survey. I wish all the principals, teachers, and their respective schools my very best.
Thank you.
