ANCIENT UNIVERSITY AND ITS CONTRIBUTION IN INDIAN ECONOMY

Abstract

It is a widely known fact that the learning of any country is closely associated with the intellectual and economic growth. No nation can thrive without exceptional generation of knowledge. In this connection, the mechanism of the University plays a very crucial role. Without a powerful university set-up, generation of innovative knowledge is not feasible. The present paper is an attempt to analyse the symbiotic relationship between universities and the economy, emphasizing their contributions to human capital development, research and innovation along with their contribution to GDP. With a close inquiry of historical records and available archival sources, this research paper sheds light on how ancient Indian academic units of higher education played pivotal in driving economic growth, fostering innovation and propelling the nation towards a knowledge-based economy in different temporal frames.