The Indian government is considering amendments to its Foreign Education Providers bill that would make it easier for overseas institutions to set up operations in the country.
India’s Ministry of Human Resource Development (MHRD) has said it will revise downwards the original requirement that all foreign institutions must have a minimum of Rs 500 million (£7 million) to invest before setting up a campus in the country.
“Considering that a diverse set of educational institutions have expressed interest to have operations in India, it is not feasible to have the [investment] condition for everyone,” an MHRD official told India’s Business Standard.
The government has suggested that over 50 overseas universities have expressed an interest in setting up campuses in India since the bill was published last spring. These include a number of elite US institutions, including Massachusetts Institute of Technology, Yale University and Columbia University, the paper reported.
In another move aimed at increasing support for foreign institutions, the MHRD official said the bill could be amended to change the ban on foreign providers repatriating profits.
The bill, which aims to generate huge amounts of investment and overseas collaborations for India, has been delayed by opposition concerns and parliamentary stagnation. According to the Business Standard, about 15 bills related to education are waiting to be tabled in the Indian parliament during the ongoing monsoon session. The Foreign Education Providers Bill is to be re-introduced once its amendments are cleared by government officials.
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