Bienvenido the illustrious! Welcome to India!
if you ever dreamt of studying in the world’s top foreign universities but the expenses required to pursue your dream always hold you back, it’s time to cheer!
The government of India has given its blessing to reprise the educational sector and is vying for the top dogs to board the Education Express.
The Centre is in works to change existing laws to ease restrictions faced by foreign universities while setting up campuses in India. In what is being seen as a revamp, this is bid to pay court to nearly 7.5 lakh strong students who spend approximately $15 billion annually overseas to pursue higher education, as cited by Union Education Minister Ramesh Pokhriyal ‘Nishank’.
Presently, there are some foreign universities already associated with Indian institutions, which allow students to complete their studies in India before moving abroad to complete their degrees. The country’s bureaucracy, though, is one which has long remained an impediment for those from across the land to establish their campuses in India.
The aim of these new regulations is to encourage overseas universities to set up campuses in India without a local partner. While India has produced several high profile names in academia who are doing wonders in their respective sectors – Sundar Pichai (CEO – Google), Satya Nadella (CEO – Microsoft), Ratan Tata (ex-Tata Group head) spring immediately to mind; with competition from global bigwigs, the Modi government is certainly willing to raise the bar even higher for educational excellence.
In a country which has seemingly resisted changes in its educational structure, the legislation seeks to offer a level playing field to both the local and foreign players. While Mr. Pokhriyal did not delve into the details, more enticing prospects regarding land, providing adequate infrastructure and staff etc. are sure on the agenda to be offered.
It is worth noting that by the year 2021, 34% of India’s population is expected to be aged between 15 to 34 years, according to the World Bank. These inviting amendments in the education sector are going to be a huge pull to tap the enormous young demographic at India’s disposal. The Union Education Minister also added that India has already signed agreements on educational programs with 55 countries that include exchange of academics and students and cooperation on other initiatives, establishing a front foot approach by the government.
The South Asian giant is currently ranked 72 among the 132 nations in the 2020 Global Talent Competitiveness Index that measures the nation’s ability to grow, attract and retain talent. For India to revitalise its education sector, a healthy element of competition and collaboration between foreign and local cradles is imperative to close the growing gap between college curricula and market demands.
With more than 51,000 institutions, India’s higher education system is one of the largest in the world, second only to its neighbour China. Despite, it still lags much behind China in terms of infrastructure, quality teaching, and research investment and overall value.
Under the new National Education Policy (NEP) 2020, the Centre has also sought to encourage “high-performing Indian universities” to set up campuses overseas, simultaneously facilitating select foreign universities (those hailing from the elite 100 universities in the world) to operate in India.
The move has been evidently met with a lot of enthusiasm, with Australia’s government and some other prominent universities like McGill University and University of Sydney showing interest in the proposal. With the Bureau of South and Central Asian Affairs of the US State Department also vetoing their affirmation through a tweet, things are certainly looking upbeat for India’s education sector.
Don’t be surprised if world’s renowned universities, including Stanford University and Howard University, announce their plan to debut in India soon.
Here’s hoping all the legislations materialises work out to everyone’s benefit. Stay tuned for more updates.