New Delhi, Dec 20 (PTI) India is on the cusp of becoming a great economic power even as the world faces challenges that are complex as well as unpredictable, Delhi Lieutenant Governor VK Saxena on Wednesday said.

Saxena was addressing the 12th annual convocation ceremony of the B R Ambedkar University here on Kashmere Gate Campus.

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"India is presently in a challenging phase of its socio-economic transition. We are on the cusp of becoming a great economic power, in the middle of global challenges that are complex as well as unpredictable.

"Indian expertise and talent has much demand worldwide... Yet, to take advantage of the unfolding opportunities in a globalised market, we have to galvanise our demographic strength," he said in his address.

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He said that the educational institutes will have a key role to play in shaping the India's demographic dividend, as he expressed concern over the global ranking of Indian higher education institutes.

"It is a matter of concern that not even a single university or institution from India is ranked amongst the top 100 in global rankings. While NIRF is a laudable initiative, to my mind, AUD and other universities in Delhi should look at higher international rankings," he said.

Delhi Education Minister Atishi lauded the varsity as a premiere liberal arts university of the nation.

"The Delhi government provided students at Ambedkar University with better education opportunities and the students must play their role in the country's development by using their skills efficiently. Ambedkar University is renowned not only in Delhi but throughout India as a liberal arts university," Atishi said in her turn.

A total of 1,095 students, 635 of them female, were awarded with PhD, MPhil, MBA, MA, UG degrees in the convocation.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)