India needs to build its own Harvards: Time to rethink higher education from the ground up

INDIA stands at a pivotal moment in its educational journey.

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With over 40 million students enrolled in higher education institutions (AISHE 2021-22, Ministry of Education), we host the world’s largest college-going population. Yet, our youth continue to look abroad for quality education, driven by aspirations of global exposure, academic prestige, and better opportunities. As per the Ministry of External Affairs, more than 1.3 million Indian students were studying in foreign universities as of January 2023.

This exodus is not just a matter of ambition; it reflects the perception that India still lacks globally competitive universities. And this migration comes at a staggering cost. A 2023 report estimates that Indians spent nearly $47 billion over the last decade on foreign education - ₹67,000 crore ($8 billion) in 2022 alone. For a middle-class family, sending a child abroad often means liquidating savings, taking on high-interest education loans, and enduring long-term financial strain.