India Blocks Entry of Foreign For-Profit Universities
Apr. 15 – One of the restrictions of India’s newest Foreign Education Providers Bill will block the entry of foreign for-profit universities in the country.
Last month, the cabinet approved the Foreign Education Providers Bill that would allow foreign universities to establish campuses in India. The bill also restricts foreign universities from repatriating money to their home country and setting up a minimum corpus of US$11 million.
“We are not going to permit every foreign university to come in. For one, universities listed on any stock market as well as for-profit universities would not be allowed to set up campuses in India,” a senior official in the Ministry of Human Resource Development told The Times of India.
The move to block for-profit schools is part of government efforts to curtail commercialization of the industry. For-profit educational institutions are managed by private companies or organizations and are run like a business.
“Not allowing for-profit colleges and universities would narrow the scope of institutes that can come in, but they are clearly in the education sector for financial gain and we are not very comfortable in allowing such players,” added the official.
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