Hyderabad: In a significant move that can change profile of higher education sector in India, union cabinet has cleared the Foreign Educational Institutions (Regulation of entry and operations) Bill. Once this bill get parliament nod, foreign universities, which are eagerly waiting to tap huge Indian education sector opportunities can setup their campuses in the country.
The move will result in to significant changes in higher education sector and redefine the foreign direct investment and also help the best of the best India teachers to get higher salaries.
As per the market expectations, UK based Imperial College, Duke College and US based Georgia Tech, Canada’s Schulich School of Business are front runners to invest in Indian education sector. Union Human Resource Minister Kapil Sibal termed this development as larger revolution than telecom sector.
As per the draft bill norms, Foreign Universities will have to deposit Rs. 50 crore as corpus fund to set up campus. The institutions were not permitted to take back the profits from educational activity in India. However, government may give free hand to these foreign universities in terms admission and fee structure by not putting any seat reservation to any castes and no bar on fee.