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Bhakti Madan

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Senior Associate in the General Corporate Practice at the Ahmedabad office of Cyril Amarchand Mangaldas. Bhakti specializes in general corporate advisory, inbound and outbound investments, mergers and acquisitions, joint ventures and business transfers. She can be reached at bhakti.madan@cyrilshroff.com

Introduction

The Gujarat Public Universities Act, 2023 (“the Act”), came into effect on October 9, 2023[1], with the intent to unify the State legislation, governing 11 (eleven) public universities in Gujarat and any new public university that the Government of Gujarat (“GoG”) may constitute and notify (collectively, the “Universities”). The Act provides a common consolidated legislation for all Universities, aiming to provide better governance, improved academic standards, adequate representation through a democratic process, state of the art facilities and to transform, strengthen and regulate higher education in a more efficient manner.Continue Reading Gujarat Public Universities Act, 2023 – A step towards Unification?

GIFT City

Introduction

 In the 2022-23 Union Budget announcements on February 1, 2022 (“Budget”), the Finance Minister introduced a proposal to allow the entry of world-class foreign universities and institutions in Gujarat International Financial Tec-City IFSC (“GIFT IFSC”), to offer courses in subjects pertaining to financial management, fintech, science, technology, engineering, and mathematics, to facilitate the availability of skilled human capital for financial services and technology[1]. The announcement is seen as a progressive step, giving further impetus to promoting GIFT IFSC as the preferred International Financial Services Centre (IFSC) globally.Continue Reading GIFT City Opens Doors for Entry of Foreign Universities in India

Opportunities for Foreign Universities in India

INTRODUCTION

Education is one of India’s most rapidly-growing sector, which is expected to be worth approximately USD 225 billion[1] by 2025. Enrolment in higher education institutions that stands at approximately 37.4 million[2] today, is estimated to grow by nearly 38% by the year 2030, with India potentially emerging as the single-largest provider of global talent where one in four graduates in the world could be a product of the Indian higher education system[3]. The Covid-19 pandemic has provided further impetus to this sector by increasing the acceptance of online education and opening fresh e-learning opportunities for national and international educational institutions. The Government of India (“GoI”) has also brought renewed focus on the education sector with the roll-out of the National Education Policy, 2020 (“NEP”), which lays down the future roadmap of education in India.Continue Reading Opportunities for Foreign Universities in India: A Regulatory Overview

Introduction

The EdTech sector is seeing significant investments and expenditure by governments, schools, universities, students and professionals globally. By 2030, it is expected that global EdTech expenditure will grow to USD 10 trillion[1]. The growing popularity of online learning, further necessitated due to the nationwide lockdown, has provided a major push to the sector in India, which is expected to grow at a CAGR of 52% to become a USD 2 billion industry by 2021[2]. The key growth drivers propelling EdTech in India are the ability to serve a large audience at significantly lower costs compared to traditional in-classroom learning, significant growth in internet and smartphone penetration across India, steady rise in disposable income of the Indian households, and a large consumer base with over 37% of India’s around 1.35 billion population falling in the 5-24 age bracket.Continue Reading Covid-19 – A booster for the EdTech Industry in India