The Government of India has started to work on the legislation which will regulate the operation of foreign universities in India. In July this year, the National Education Policy 2020 (NEP) was announced, under which the government allowed foreign universities to set up campuses in the country.
Education Minister Ramesh Pokhriyal 'Nishank' told Bloomberg that the government is pushing to woo nearly 750,000 students who spend about $15 billion each year to study abroad. The minister claimed that Australian government and some universities had shown interest in India's proposal. Australia's McGill University and the University of Sydney said they're looking to expand their partnerships in India through new courses.
Some universities have already set up partnerships with Indian institutions, allowing students to partially study in India and complete their degrees on the main campus abroad. He asserted, "Very soon, India will have some of the finest, world-class institutions". However, the education minister did not specify what incentives India will offer to attract foreign universities.
Pokhriyal said India had already entered into agreements on educational programmes with 55 countries, including exchange of academics and students and cooperation on other initiatives. According to him, the new education policy will double education spending to 6 per cent of India's GDP.
Joe Wong a vice-president at the University of Toronto said, "We'll seek new opportunities to further pursue such collaborations as India's new policy is implemented". University of Toronto has a tie-up with Tata Trusts and the Indian Institute of Technology Bombay (IIT-Bombay).
On the other hand, the University of Washington, London School of Economics, Massachusetts Institute of Technology and the University of Western Australia have already said they have no plans of setting up campuses in India.
With more than 51,000 institutions, India's higher education system is one of the largest in the world. In terms of enrolment, it is second only to China.