India needs to become global powerhouse of happiness: Pranab Mukherjee

Bengaluru: President Pranab Mukherjee today underscored the need for India to be a global powerhouse not just in terms of economic parameters but also 'Gross National Happiness'.

"If we aspire to be one of the leading economic powers of the world, yes, we can be, but merely in statistical terms, in terms of gross domestic product (GDP), in terms of skill are not adequate," Mukherjee said after laying the foundation stone for the Bengaluru Dr B R Ambedkar School of Economics here.

The President said the concept of development has changed now and international organisations like the World Bank and IMF are talking about development in terms of GDP as well as Gross National Happiness (GNH).

"Along with GDP, GNH is considered as one of the important factors of development," Mukherjee emphasised.

He expressed concern over unemployability of the youth in India, saying "600 million youth are entering the job market, but their employability is not adequate".

"They are educated, but not employable. Their employability is not up to the world standard," he said.

Mukherjee observed that skill development may not appear glamorous but is most important in the Indian context.

Karnataka Chief Minister Siddaramaiah, Union ministers Ananth Kumar and D V Sadananda Gowda, state Governor Vajubhai Vala were present at the event, along with state higher education minister Basavaraj Rayareddi and academicians.