Indian universities must prepare for foreign competition at home
SummaryOur institutions of higher learning will need to adapt quickly as local campuses of foreign universities start springing up.
Last year, about 800,000 Indian students went abroad for higher education, and spent ₹45,000 crore yearly on their tuition fees alone. About 200,000 Indian students chose the US as a destination for their higher education. This was a 19% increase from the previous year. It is estimated that by 2024, 1.8 million students will go abroad and spend about ₹6.4 trillion in tuition and living expenses: that is, 2.7% of India’s gross domestic product (GDP). This is a big drain on Indian financial and human capital. Indian institutions are unable to retain talent domestically. It will take us a while to make our universities globally competitive. Consequently, to meet rising demand, Indian policymakers are contemplating inviting foreign universities to India. Is this a good idea? Would it help in retaining talent and capital? What would be the consequences on domestic institutions and how do they face this competition?