Budget offers India springboard for foreign universities

The budget proposal to set up five new university townships near major industrial corridors could be the golden ticket for foreign institutions looking to establish campuses in India.

- Pratishtha Bagai & Mansi Verma

Yet, according to sector experts, more clarity is needed on land and other approvals.

The government will support states in creating these university townships, finance minister Nirmala Sitharaman announced in her budget speech on Sunday, adding that these academic zones will host multiple universities, colleges, research institutions, skill centres and residential complexes.

The plan could benefit foreign universities seeking a low-risk opportunity to enter the Indian market, according to Suchindra Kumar, partner and leader of education at consulting firm PwC India. “Some foreign universities are wary of the heavy capital expenditures. These townships will provide the infrastructure for the universities to set upon a ‘plug and play’ model like GIFT City, attracting more of them to enter the Indian market.”