Universities world over, set up shop up here in India!

Foreign universities draw just about 2% of Indian students receiving tertiary education in the country. This tiny segment, however, spends an amount equivalent to what the rest of college students spend in India. This makes for a compelling argument to provide the education closer to home, and the University Grants Commission (UGC) earlier this year issued a set of guidelines to encourage foreign universities to set up local campuses. It may be too early to assess whether the scheme becomes popular. But the cost advantage of offshore campuses using local teaching and research talent is pretty much obvious. Besides, they are being offered a degree of functional autonomy not available to Indian universities. It could also help elevate the overall quality of tertiary education in the country.

The median age in OECD countries - which are the top draw for Indian college students - is above 40. Universities in these countries need a steady intake of students from across the world in order to keep themselves adequately funded and ensure maintenance of academic standards. China, the other source of students seeking foreign education, has begun to age. That leaves South Asia, Latin America and Africa to fill up Western college classrooms. Ageing Asian economies are also facing a glut in higher education. India is on the right course in asking top-tier universities to set up shop here.

Offshore campuses help destination countries secure supply of students who may be otherwise affected by economic and political disturbances, such as pandemic shutdowns, foreign exchange restrictions or diplomatic rows, like the ongoing one with Canada. Universities serve ageing economies as gatekeepers for selective addition to their shrinking labour pool and it is a competitive market as Canada must realise. White-collar emigration affects the host country less - it keeps remittances stable during an economic downturn - so long as domestic growth is robust. Globalisation is shifting jobs to where the workers are. Education needs to follow that course.