The State and Central governments should focus on investing more in education than freebies, said G. Viswanathan, Founder-Chancellor of the Vellore Institute of Technology (VIT).

At the University Day celebrations here on Tuesday, he said: “Among the 13 crore eligible youth in the country, only 4 crore have access to universities and colleges.” If more students enrolled in higher education then the country’s remittance, which currently stands at ₹11 lakh crore, will rise exponentially, he said.

Australia’s per capita income of $68,000 was possible as it spent 5% of its GDP on education. “Their Gross Enrolment Ratio (GER) in higher education is 100%, similar to that of South Korea. Any country that spends more on education and health will witness all-round economic development. Nations that lag in education will lag in everything else,” Mr. Viswanathan said.

Katrina Knapp, Vice Consul, Australian Consulate-General Chennai, said Australia was focusing on workforce skilling for long-term economic growth. Indians in Australia contributed to India by way of skilling the workforce and laying the groundwork for long term economic resilience and growth, she said.

The partnership between the two nations was built on a shared belief in innovation, curiosity, and pushing boundaries, she said. Sudeep Kunnumal, chief human resources officer designate, Tata Consultancy Services, said collaborating with faculty and fellow students was a fundamental quality and laid the foundation for success.

Mr. Viswanathan distributed the best outgoing student’s awards, and G.V. Selvam, VIT’s vice-president, distributed the best club/special team awards, and department achiever awards. P.K. Manoharan, additional registrar, and T. Thyagarajan, pro-vice chancellor, also spoke.