Centre to allow private funding for universities

Centre to allow private funding for universities

These varsities would be global centres of innovation, concept note ready

Human Resource Development Minister Kapil Sibal on Tuesday indicated this during his interaction with visiting British Trade and Investment Minister Mervyn Davies.
He told the British Minister that his government was keen to adopt the Public-Private partnership for setting up some of the 14 universities.

As per the government’s plan these universities would be ‘global centres of innovation’. The HRD Ministry has already prepared a concept note on institutions proposed to be set up in the 11th Plan.

“Sibal told Davies that the government would seek PPP model for creation of some of these institutions. Government funding might be available for some others,” a HRD Ministry official said.

The Foreign Education Service Providers’ Bill, which would allow foreign institutions to set up campuses in India, is likely to be introduced in Parliament in the winter session, scheduled to commence from November. However, there would be safeguards for Indian students to protect them from fly-by-night-operators as a strong regulatory mechanism would be put in place to monitor the credentials of the foreign institutes.

Approval for FDI

The PPP model might attract certain foreign players to invest in setting up institutions as India has already approved foreign direct investment in education under the General Agreement of Trade and services.

“We are exploring scope for more partnerships as many British institutions are interested in collaboration with their Indian counterparts,” Davies said.  At present, 11 British universities are operating in India through joint collaboration with Indian institutes.