New Delhi: Today i.e. on March 15, 2010, Cabinet government approved the Foreign Educational Institution (Regulation of Entry and Operation) Bill 2010, which would allow foreign universities to set up campuses in India. It has paved the way for massive reform in the education system, and is expected to benefit thousands of Indian students who head abroad to study. The bill will now be tabled in parliament for its approval.
India is reforming its higher education system after concerns that it faces a shortfall of qualified graduates. For decades, the country's brightest and most privileged students have headed abroad to countries such as the US and Australia, to study. Despite having top quality educational institutions, India is unable to meet the demand for a quality education. Some analysts project that India's growing economy will face a shortfall of half a million qualified graduates over the next five years. Government has said that improving education facilities is the key to the country's future development.
Human Resource Development (HRD) Minister Kapil Sibal explains the bill as a milestone, which would enhance choices and benchmark quality. He also added that only 12 percent of all Indian college applicants get a place, but the government hopes to raise the figure to 30 percent, by 2020. The bill had been opposed by some political parties, particularly those from the left, on the grounds that it will benefit only elite Indians with poorer students unable to afford to pay high fees.
