Open to discuss 100% FDI in education: Min
The commerce & industry ministry will soon circulate a discussion paper on liberalising higher education and changing domestic regulations to attract investment in the sector.
By TNN |
NEW DELHI: The commerce & industry ministry will soon circulate a discussion paper on liberalising higher education and changing domestic regulations to attract investment in the sector. The paper will be sent to the ministry of human resources and development (HRD), universities and other stakeholders for comments.
Speaking to the media at a seminar on services organised by CII in New Delhi, Mr G K Pillai, special secretary in the commerce department, said a Cabinet note will be prepared after generating enough debate on key issues and taking all concerned on board. When asked whether the commerce ministry was supporting 100% FDI in higher education, the special secretary said: "Why not."
The HRD ministry has been opposing all moves of the commerce ministry to improve its offers on liberalising higher education at the World Trade Organisation (WTO). The commerce department wants foreign educational institutions to be given the freedom to determine the salaries of their faculty and fixing fees outside the purview of the University Grants Commission. The HRD had said that the move would go against national interest.
Putting forward the commerce department’s argument, Mr Pillai pointed out that India had an outgo of $4 billion on education every year which could be saved by allowing foreign institutes to set up shop in the country. However, he said that it was important to liberalise certain domestic regulations to attract good institutes. "You cannot expect top grade institutes like Harvard to come to India if you control salaries and fees," he said. The special secretary said that once the discussion paper on liberalising higher education was finalised, it would be put up on the ministry’s web-site to invite comments from all concerned.
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