Education, the most important indicator of social progress, plays a decisive role for a society to achieve self-sustainability and equal development. India is a country with more than one billion people, and of them just one-third of them can read. Rapidly growing size of population, shortages of teachers, books, and basic facilities, and insufficient public funds to cover education costs are some of the nation’s gravest challenges. Hence, for a country like India, the education conditions should be optimized by uplifting the poor out of illiteracy and decreasing the undereducated population.
For India to make efficient use of its demographic dividend, it is essential that it build’s a strong foundation that has its base in quality education. Consequently, this will steer India in the direction of its long-term goal of being a knowledge economy. This would require us to unlock the true potential of our human capital.
The Right of Children to Free and Compulsory Education Act or Right to Education Act (RTE) aims to make education a fundamental right of every child between the ages of 6 and 14 irrespective of gender and social category. This act came into effect for the states of the Indian Union on 1 April 2010. The considerable resources and pool of experience that the corporates bring to the table is invaluable in effective implementation of RTE act. Hence, the promotion of education through innovative CSR activities is not only of societal importance but also of national importance.
Education is the most preferred area of CSR for Indian companies, with 85% of the companies engaged in it. The role of CSR in education is mitigating the skills gap with considerable experimentation, and learning-by-doing along the way. Supporting education at any level will mean, re-energized education sector, which can transform our country into a true knowledge power and realize a future of prosperity and growth. In this process, the affected individuals, companies, and society at large are likely to benefit. But, how can these CSR initiatives have high social returns and to whom to collaborate with in this journey of your company to create value, are some of the key takeaways that you will benefit from attending the Magic 7 CSR Summit.
A high-quality education system is a pre-requisite for our country to achieve global excellence. For addressing India's education crisis, we require a national platform, like the Magic 7 CSR Summit, with a clear vision for education that is able to unite the forces of government, corporate houses and civil society organizations towards building the nation of our dreams.