A Bold Step Towards India’s Future!
These days, many students are desiring to obtain a high-quality higher education abroad; however, they are faced with the financial burden of taking out student loans, as well as the emotional struggle of being away from their family in a foreign country. Fortunately, there is a way out–studying on foreign campuses without having to leave your homeland, and at almost half the cost!
The University Grants Commission (UGC) has unveiled draft norms to allow some of the world’s best universities to set up offshore campuses in India. This groundbreaking initiative will provide Indian students with access to top-quality education close to home, granting them autonomy in terms of fee structure, admission process and repatriation of funds. UGC Chairperson M Jagadesh Kumar announced that the National Education Policy, 2020, has proposed a legislative framework to ensure the smooth entry of these universities and ensure their compliance with regulatory, governance and content norms. With this exciting opportunity available, soon Indian students will be able to reap the benefits of world-class education without having to travel abroad.
To put things into perspective, here are some key points from the draft:
These campuses will have the freedom to design their own admission process as well as the criteria to invite domestic and foreign students.
These foreign entities can decide the fee structure but it needs to be “reasonable and transparent”
They have no restrictions in recruiting staff and faculty from India and abroad
These campuses cannot offer online or distance learning courses
The qualifications awarded to Indian students must be equivalent to those offered by renowned foreign institutions in their own country
Every foreign education institution will be allowed cross-border movement of funds and maintenance of foreign currency accounts, mode or payments, remittance repatriation and sale of proceeds, under the Foreign Exchange Management Act (FEMA), 1999.
The Union Minister of Education announced that Deakin and Wollongong universities from Australia will be establishing their campuses in the GIFT City in Gujarat. Both universities have a great reputation, with Wollongong being the first foreign university to open a campus in the UAE and Deakin ranked 266 in the QS World University Rankings and among the top 50 young universities in the world. Moreover, the initial approval for these campuses will be for 10 years and will be renewed in the ninth year, and these universities cannot offer courses that might put national interests in jeopardy. Clearly, India is doing something right in terms of bolstering its economic growth and initiating a futuristic transformation of its education sector.
In actuality, here’s how this could benefit India and its students:
With the advent of foreign universities setting up campuses in India, students will now have access to quality education and advanced learning tools at a lower cost, instead of spending their parents’ lifetime savings or taking out large loans to study abroad. Furthermore, earning a degree from an international university, participating in exchange programs, and gaining the necessary skills and knowledge will open many doors for young Indians. Additionally, this will provide students with a wider range of choices and compel existing universities to offer courses equipped with more modern, practical knowledge than traditional theory-based learning.