While new business schools come up, industry experts said the quality issue was crucial for them to survive.
The contest, 'Letters to PM Modi' on the subject 'An idea to create new jobs', is open to all college students at all levels across the country.
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".