Dr. Ramesh Pokhriyal, the Union Education Minister of India said, with the National Education Policy (NEP) 2020, the Prime Minister of India is aiming to match the level of Yale and Oxford universities.
The Narendra Modi led Central Government is working to overhaul the nation’s heavily regulated education sector with nearly 750,000 students who spend about $15 billion each year pursuing degrees abroad.
Mr. Pokhriyal said “The legislation — which will regulate the operation of foreign universities — is being prepared for approval by the parliament, where the Government retains a significant majority. It represents a change of heart for the ruling Bharatiya Janata Party, which has long resisted opening up the country’s education sector.
Joe Wong, a vice president at the University of Toronto,said, “There has been (a) lot of enthusiasm. Very soon, India will have some of the finest, world-class institutions. 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.
Besides University of Toronto, McGill University and the University of Sydney said they’re looking to expand their partnerships in India through new courses or research programs.
Alessandro Giuliani, managing director of SDA Bocconi Asia Center, an Italian business school that operates in Mumbai said, “We have been dreaming about the possibilities of delivering degrees in India.” He further said the institute is waiting to see the government’s final regulations in the new policy, which it hopes will avoid any minimum investment requirements, especially in land.
With more than 51,000 institutions, India’s higher education system is already one of the largest in the world and in terms of enrollment, it is second as China is the first one with good infrastructure, quality teaching and research investment.
India already entered into agreements on educational programs with 55 countries that include exchange of academics and students and cooperation on other initiatives.
As per the proposal of the Central Government, India would be spending over Rs.
9 trillion rupees or about $123 billion on education, of which $28 billion will be on higher education in the next 5 years, till 2026.
Stay tuned for further updates.
