Murli Manohar Joshi said that the country is focusing more on borrowing technology rather than creating technology.
Premier institutes IITs and IIMs are in "bad position" as they only contribute to transfer of capital to developed nations, senior Bharatiya Janata Party (BJP) leader Murli Manohar Joshi today said, claiming that the country's youth is being reduced to "tailors" rather than "textile makers".
The former Human Resource Development Minister also suggested that the government should assess the country's technological power before introducing development schemes.
"The IITs and IIMs are in a bad position... they are only contributing to transfer of capital to developed countries. We are not creating opportunities here and the students who pass out from these institutes are only contributing to management of multinational companies of other countries," he said.
Mr Joshi was addressing the 5th National Summit on Instituionalising Academia-Industry interface organised by PHD chamber.
Mr Joshi, Member of Parliament from Kanpur, said that the country is focusing more on borrowing technology rather than creating technology which is reducing educated youth into "tailors" rather than "textile makers".
"Vajpayeeji had mooted a wonderful idea of quadrangle roads. But even before the concept plan for how the roads will be constructed was worked out, Volvo came up with buses that can be run on those roads. It is good to borrow technology but ultimately our projects don't generate employment and revenue for our youth but become a profit making ground for others.
"Governments need to realise that they need to assess technological power of the country before progressing on such schemes so they do not cause long term loss to the country," he said.