New Education Policy (2020), is one of the greatest reforms in the Indian Higher Education sector that is expected to alter the course of India's education system. One of the significant statements made in the strategy is opening the door for international universities to establish campuses in the nation.
In recent years, terms like transnational, cross-border, offshore, and borderless higher education have gained popularity. This is especially true since 2000, when the phenomenon of mobility in higher education began to take shape and progress from student mobility to provider mobility to the coordinated development of education hubs. Many countries have been compelled by changes in the global market economy to accept foreign suppliers in various ways.
The new NEP says, “A legislative framework facilitating such entry (of foreign universities) will be put in place, and such universities will be given special dispensation regarding regulatory, governance, and content norms on par with other autonomous institutions of India.”
Since international universities would be constructed in India as a result of this new policy change, many people are riding a wave of hope that it would now be able to acquire a great education. On the other hand, others contend that this would exacerbate inequality by raising the cost of education and posing problems for local educational institutions since foreign suppliers will unfairly corner the market.
Amidst growing speculations about the establishment of foreign institutes in India, we in this article are focusing on three key benefits foreign universities will deliver to our nation.
Raising the Bar of Indian Education System
The presence of foreign universities would boost academic standards at Indian universities. Foreign institutions would face more competition in India if admission is permitted, which will put pressure on domestic universities to raise standards.
Foreign institutions are anticipated to bring with them the culture of rigor and quality in research and academic standards with potential spillover effects on their Indian equivalents, just how multinational corporations have been "transmission belts" for cutting-edge management methods.
Indian students would gain from receiving the greatest education at a reasonable price. Second, Indian students would be able to transfer credits worldwide if colleges in India provide internationally recognised programmes. Third, Indian students will have credentials and abilities that are transferable throughout the world in the framework of the General Agreement on Trade in Services (GATS).
The establishment of international colleges in India would unquestionably expand job chances for both educated and uneducated groups. Bringing the whole workforce from their own nation is quite unlikely.
Making Higher education More Convenient
Although the higher education system in India has produced some of the top talent in the world, IITs, IISc, and IIMs have grown to be household names. However, there is a serious issue with the general negative view of higher education in India, which also includes the subpar infrastructure. The most recent QS World University Rankings, in which the number of Indian institutions in the top 1000 fell from 25 in 2019 to 21 in 2022, illustrate the unmet need for high-quality education.
It is anticipated that permitting international colleges will make top-notch education accessible locally at a slightly reduced cost without having to travel and will dramatically diminish the possibility that human capital will migrate to other nations in search of employment opportunities.
According to several worldwide surveys, cross-border education strengthens the economy and promotes a higher sense of global awareness, cultural understanding, and competitiveness. International collaboration enables local institutions to design their curriculum in line with global pedagogy and provide students a wide choice of fields and specialties.
Leveling up Research Works
The Indian educational environment will benefit if international universities are permitted to establish campuses there. It is comparable to an open economy where allowing MNCs to build offices in India has promoted economic growth as opposed to harming domestic companies.
Similarly, admitting foreign universities won't harm domestic educational institutions. Private institutions would be forced to step up their game in response to the decision, which will expand job chances for talented Indian PhD holders and researchers.
There must be methods to encourage some of the research funding available with these institutions to flow into India since research is one area where the international universities can truly benefit Indian students. Overall, the establishment of these universities will open up a wide range of interesting prospects for researchers.
What’s Next?
In conclusion, international firms may be permitted to invest in the market for a country like India where the budget per capita for higher education has been decreasing due to the expanding population in the tertiary age group in order to assure capacity building and infrastructural development.
Although the viability can be supported, an appropriate regulatory framework is crucial. It's also critical to understand that, while one potential remedy for the current issues the nation's higher education industry is confronting, foreign investment is not a magic fix. Along with rapid development, many countries are seeing a change in the dynamics of higher education imports and exports, and they are doing it in a way that matches their requirements and goals.
In the days ahead, foreign universities will play a critical role in transforming the Indian education system and help the nation build a robust education system that will be integral in nation building.
