New Delhi, May 14 (UNI) Revitalising the higher education in the country, Indian Council for Research in International Relations (ICRIER), today called for greater participation of the private sector in a more liberal and encouraging investment climate.

In its recommendation to the government, ICRIER has expressed need for a uniform ratings and accreditation system.

Moreover, foreign direct investment in the sector must be liberalised and institutions should have autonomy in administration and curriculam design, it said.

''India must be able to utilise its education system to attract ovreseas students,'' ICRIER said in its recommendation adding that the country must become a global education service provider.

Fee structure must be rationalised on the basis of user charges and a vibrant credit market for financing higher education must be developed, it added.

Other recommendations listed in the report include development of world class institutes through greater public investment, admissions through national level entrance exams and upgradation of faculty conditions.

Government currently invests less than three per cent of GDP in education, including a share of higher education at 0.4 per cent.

Industry chamber CII will sign an MoU with All India Council of Technical Education (AICTE) based on the recommendations of ICRIER.

For a better academia-industry interface, it is also in dialogue with 348 universities and has set up a University Council.

UNI