Around 160,000 students from India are studying abroad
If the Cabinet allows for 100 per cent foreign direct investment (FDI) in higher education, it will not only help in providing cheaper yet better quality education but also save India billions of dollars by way of foreign exchange (forex) outgo.
Union Minister for Education Kapil Sibal who, sources close to the development say, is all set to present the Foreign Educational Institutions (Regulation of Entry and Operations, Maintenance of Quality and Prevention of Commercialisation) Bill to the Cabinet for clearance has pointed out that the country’s education sector needs Rs 4 lakh crore. Thus, he made a strong pitch for greater private investment and allowing foreign universities with necessary regulatory mechanisms in the sector.
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