HIGHER EDUCATION

Scope for Foreign Universities in India to Establish Their Own Branches or Tie Ups with the Local Universities

Scope for Foreign Universities in India to Establish Their Own Branches or Tie Ups with the Local Universities

Introduction

India is a founder member of WTO. With more than fifty percent of GDP contributed by services and education being an important area under services, there is an urgent need to take a serious look at this sector. Higher education inability to meet the changing needs of education industry may result in loss of current educational status. To meet national goal of emerging as a developed nation before 2020, higher educational sector, if reformed, can play the leading role. With the largest number of aspiring youth, Indian government cannot delay the corrective measures. Lack of access and quality in higher education within the nation can be very costly, both in terms of hard earned foreign currency and talent of the youth. Empowerment of youth by offering the latest and best quality of higher education is the prime responsibility of Indian Universities and schools of higher learning.

Higher Education in India

Education sector of India provides an attractive opportunity to foreign universities to gain benefit from escalating demand of higher education in India. Higher education department has approved license of 454 universities by the end of Year 2010 and 16,885 colleges (DHE, 2011a). Currently, six (6) foreign universities are operating in India, whereas two universities are working under collaboration with multiple polytechnic institutes and business schools of India. Higher Education Commission annual report states that the student enrolment in India has crossed 12.9 million in 2007 and 2008 (DHE, 2011a) . According to an estimate, higher education universities operating in Indian education market worth $40 billion in 2008 and it is expected to increase to $68 billion by the end of year 2012 (DHE, 2011a). Private institutions share in the Indian education sector increased from 42.6 percent to 63 percent in year 2009 (Manjrekar, 2011). Currently, six foreign universities have opened their branches in India (Geetha, 2009). Key focus areas for higher education according to a recently done study by FICCI include:

Innovation In financing

Use of ICT

Research grants and research outputs

Skill development

Regulatory framework

Developing Industry partnerships

Vocational education and training (VET)

Accreditation

Market for Foreign Universities in India

Higher Education Commission India and University Grants Commission estimates that the demand for university graduates is expected to increase up to 13.8 million by the end of year 2015 (UGC, 2011c). Currently, Indian Universities and affiliated schools are serving approximate 13.2 million students that are expected to graduate by the end of year 2011 (Financial Express, 2011). Institute of International Education, New York, conducted analysis on Indian students' movement to foreign countries for higher education. Results showed that more than 100,000 Indian student study in different universities in the United States; whereas, more than 60,000 students are enrolled in universities in different countries (Telegraph, 2011). Complete list of foreign and Indian universities present in India is listed in the appendix ...