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Gift City

On October 11, 2022, the International Financial Services Centres Authority (“Authority”) notified the International Financial Services Centres Authority (Setting up and Operation of International Branch Campuses and Offshore Education Centres) Regulation, 2022 (“IBC-OEC Regulation”), permitting foreign universities and educational institutions to open a branch in Gujarat International Financial Tec-City (“GIFT City”) in Gandhinagar, Gujarat. This stems from the proposal to allow the entry of foreign universities and institutions in GIFT during the FY 23 Union Budget announcements.…

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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.…

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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

Indian EdTech beyond the first phase - A booster shot for long term growth

Part one of this blog-series[1] discussed how factors like Covid-19 pandemic and introduction of the National Education Policy 2020 (“NEP”) enabled expansion of the educational technology (“EdTech”) sector and how it has grown by leaps and bounds in less than a year. Considering the demographics of our country and the deep-rooted conventional educational culture, this blog seeks to look at the key challenges and opportunities for the EdTech sector.
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Indian Edtech in 2020: The Effective First Shot

The outbreak of Covid-19 brought an unprecedented opportunity for the educational technology (“EdTech”) sector in India. The traditional face-to-face interaction between a teacher and students suffered a setback and almost instantaneously, there was a paradigm shift to the unconventional mode of online learning. This change brought the spotlight on EdTech industry following which it received the requisite financial and policy impetus to thrive through the financial year (FY) 2020-2021. A massive inflow of investments, acquisitions and emergence of new start-ups in the previous fiscal bear testimony to EdTech sector’s meteoric growth.
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Consumer Protection E-commerce Rules – The EduTech Impact

Background

The last few years have seen customers and industry alike benefit from their increased focus on digital platforms in a changing world. Education technology, which is a prominent business vertical of the education sector, stands out for diversifying the means of learning and teaching to an extent that both students and parents have accepted online teaching models as supplement to the formal education system. While the Edutech space was steadily gaining traction, Covid’s sudden impact on physical learning afforded this sector an unparallel opportunity. The approximately USD 800 million investment into the sector in the first six months of 2020 justifies the narrative of emerging as the `next big thing.’…
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NEP 2020 - VOCATIONAL EDUCATION - FUEL FOR THE INDIAN DEMOGRAPHIC DIVIDEND

The United Nations Population Fund (UNFPA) has defined ‘demographic dividend’ as the growth potential that results from shifts in a population’s age structure.[1] A study conducted by the UNFPA noted that India has an important window of demographic dividend opportunity from about 2005-06 to 2055-56 with 62.5% of the population falling in the working age group of 15 and 59 years. It is expected that the slice of working age group will rise to 65% (approximately) by 2036.[2] This study also recognised the importance of imparting vocational education (VE) to avail the benefits of the demographic dividend.

The National Education Policy, 2020 (Policy) recognises the seminal role of VE in building the Indian demographic dividend. The Policy observes that less than 5% of the Indian workforce within the age bracket of 19–24 years received formal VE when compared to countries such as the USA (52%), Germany (75%), and South Korea (96%).[3] While identifying the need to hasten the development of vocational skills, the Policy highlights the importance of removing rigid distinctions between vocational and academic streams, and eliminating harmful hierarchies between different areas of learning.…
Continue Reading NEP 2020: VOCATIONAL EDUCATION – FUEL FOR THE INDIAN DEMOGRAPHIC DIVIDEND

Nep 2020- An Interplay Of Education And Technology

The National Education Policy, 2020 (“Policy”), unveiled by the Ministry of Human Resource Development (“MHRD”), is revolutionary in every sense. While the Policy focuses on multiple aspects, including the need for early childhood care, inclusive education and revamping of the current curriculum, an inherent thread that runs through the Policy is the interplay of education and technology.

Over the last decade, India has transformed itself into an ‘information intensive society’ and there is a growing requirement to embrace the usage of technology in the field of education. In this regard, the Policy notes that one of the central principles steering the education system will be the ‘extensive use of technology in teaching and learning, removing language barriers, increasing access as well as education planning and management’.
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NEP 2020 AND FOREIGN UNIVERSITIES - WHAT TO EXPECT IN THE REGULATORY DOMAIN

Background

The National Education Policy, 2020 (“NEP”), is only a few days old and has been garnering a lot of attention. Indeed, this is only natural, given the impact it can have on the large student community of India. In addition, given that it is the first education policy in 34 years, both in subject matter and approach, it has demonstrated significant shifts. In some ways, it is substantially different from last year’s draft National Education Policy, 2019 (“Draft Policy”).

One of the areas in our country’s education policy that has always garnered attention and curiosity is the role that foreign educational institutions can play in India and their direct entry into the country. Hereinbelow, we will check what the NEP says in this regard, and what could be expected in the regulatory landscape as a result.
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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