In a significant shift in higher education policy, the LDF government, as outlined in the budget, has declared its intention to explore the establishment of foreign university campuses in Kerala. Finance Minister KN Balagopal emphasized that these campuses would be set up in line with the new regulations introduced by the University Grants Commission (UGC), with a commitment to principles of “transparency and equality.”
This policy change is noteworthy as the Communist Party of India (Marxist) (CPM) and the Students’ Federation of India (SFI) had previously staunchly opposed reforms allowing the entry of global and private entities into the education sector. The announcement comes following recent UGC regulations designed to create a robust framework for the entry and functioning of foreign higher education institutions in India, aligning with the National Education Policy (NEP) 2020’s vision of facilitating top global universities’ operations in the country.
Furthermore, the government plans to establish new higher education institutions with international standards through partnerships with renowned national and international entities. A forthcoming higher education investment policy is anticipated, featuring special incentives and packages to attract investments for these institutions, including streamlined approval processes, tax breaks, and subsidies on capital investments. Balagopal also mentioned the formation of a task force comprising academic experts, including expatriates, to contribute to the formulation of the education investment policy, with regional conclaves scheduled in Europe, the USA, Gulf countries, and Singapore, followed by a global conclave in August 2024.
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