efforts are needed to improve standards of education in India.
"It is a cause for concern that the standards of education in many of our institutions are below benchmark. There is not a single Indian institution in the list of top 200 universities in the world," he said.
Observing that a higher rank can boost the morale of the academic and student communities, he said it will encourage greater flow of faculty and students from abroad and help in opening new areas of technology and free exchange of ideas.
"I am a very passionate advocate for education. Education is the foundation on which the strength of a nation rests. It forms the basis for robust, democratic societies and enables economic growth and development."
In the speech, Lord Paul also paid tributes to his daughter Ambika, who died at the age of four-and-half years in 1968, and said it was "her spirit which I feel has guided me all these years".
A statue of Ambika was also unveiled on the occasion.