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February 6, 2007
Overseas
Universities to Set Up Campuses in
India
with FDI Up To 50% in Higher Education
The group
of ministers (“GoM”)
has, in its meeting held on February 5, 2007, recommended 50%
Foreign Direct Investment (“FDI”)
in higher education, paving the way for overseas universities to
set up campuses in India, in partnership with local institutions.
The
GoM has suggested that only well recognized and established
universities from both
India
and abroad should
be allowed to set up campuses in India. The Government
and the private universities, including deemed universities, would
be allowed to forge alliances with overseas players. To
give effect to the proposed
FDI in education sector, an amendment may be required to the
University Grants Commissions Act, 1956. Also, a separate bill by
the name of
'Foreign Education Providers (Regulation) Bill is under
consideration which would enable the foreign universities to set up
campuses in India. The proposed bill,
when approved by the cabinet and passed as law, will grant deemed
university status to the foreign institutions.
FDI in foreign
education may be facilitated through the Regulation of Foreign
University Entry and Operation (Maintenance of Quality and
Prevention of
Commercialization) Bill.
Source:
The Financial Express dated
6-2-2007.
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