New Delhi: Foreign universities have moved closer to opening shops in India as a Bill outlining the conditions of entry has been moved in Parliament.
To enter, the institutions will have to invest 51% of the total capital investment needed. The proposed legislation also seeks to protect students from receiving sub-standard education by mandating that institutions be certified and offer curricula compatible with the Indian standards.
The Foreign Educational Institutions Bill, 2007, stipulates that all foreign universities obtain a status of ‘Deemed Universities’, thereby bringing them under the regulations of University Grant Commission , which monitors higher education across India. Entering foreign education providers must maintain a corpus fund of Rs10 crore and a certificate of validation from the university’s embassy or the High Commission in India. The Bill will be presented in the Budget session, I&B minister Priya Ranjan Dasmunsi said.
A group of 10 American universities has planned an exploratory visit next month.