Union Commerce Minister Kamal Nath has proposed that 100 per cent foreign direct investment be allowed in India's higher education sector. His ministry has made a pitch for this in a 'consultation paper' titled 'Higher education in India and GATS: An opportunity.'
Nath's proposal means that the world's best universities -- like Harvard, Oxford, Massachusetts Institute of Technology, etc -- can set up shop in India.
The ministry says this will help India in three ways:
- It will increase the number of foreign students pursuing higher studies in India;
- It will help retain some 50,000 Indian students who go abroad every year for higher studies to foreign universities;
- It will help billion of dollars for India in foreign exchange.
However, India's Human Resource Development Minister Arjun Singh and the Left parties are opposed to it, saying that the move will go against national interests as it local might India's affect political and cultural sensitivities.
So when the commerce ministry's proposal is sent to Cabinet for discussion, it is certain that the HRD ministry and the Left will oppose it.
Do you think foreign funds should be allowed in India's higher education sector? Will it be a boon or a curse for the Indian economy? Or will it help improve quality and efficiency in the education sector?