India needs widespread growth, says Nilekani

New Delhi, Oct 16 (UNI) India needs a widespread growth so that it creates up to 14 million jobs a year, Infosys CEO Nandan Nilekani today said.

The growth, which is today in the range of 8-8.5 per cent, has to sustainable, he said in his convocation address at the TERI University here.

''India's growth has to be widespread so that it creates lot of jobs, about 10-14 million a year,'' Mr Nilekani said.

With more people more saving more and more, the economy of the country can only improve, he said.

He said importing oil for 1.6 trillion dollars is proving ''very expensive'' for the country. ''The good thing is that India is using its capital better to grow with a saving rate of 27 per cent and investment rate of 30 per cent,'' he said.

In its first convocation after becoming a full-fledged university, TERI University presented doctoral degrees to seven students and master's degrees to 36 more.

University Chancellor Dr R K Pachauri said all teaching at the institution would support the objectives of sustainable development comprehensively in every respect.

Set up as the TERI School of Advanced Studies in 1998, the institution was recognized as a deemed to be university by the University Grants Commission in 1999 and subsequently renamed the TERI University today.

At present, the university offers PhD, M.Sc (Environmental Studies), M.Sc (Natural Resources Management), MA (Public Policy and Sustainable Development) and MBA (Infrastructure) programmes.

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