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I have first-hand experience.
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'Your nationalism is not my democracy' read the banners of a protest in Delhi against intimidation on campuses. February 28, 2017. Cathal McNaughton/Reuters Aftab Alam, Aligarh Muslim University Highe...
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Yes, universities skill people and add to the human capital of a country which have positive effects on the GDP. However, if this is the primary purpose, please don't call them universities, call them coaching centres. Education is fundamentally equivalent to transformation, and this warrants a critical attitude towards existing forms of knowledge and extant societal arrangements.
Imagine that the degree you got was from a fake university? It kills your career even before it can begin. These degree/diploma mills come into being and exploit vulnerable students and kill aspirations. They hide behind judicial lacuna, prosper under bureaucratic complacency and grow with governmental incompetence.