Recent Reserve Bank of India (RBI) data shows that spending on tuition and hostel fees by Indian students studying abroad has shot up 44% – from $1.9 billion in 2013-14 to $2.8 billion in 2017-18. Conversely though, the number of foreign students coming into India seems to have declined ; data shows expenses of foreign students in India declined from $557 million in 2015-16 to $479 million in 2017-18
This sits at odds with the government’s claims that a growing number of quality institutions such as the Indian Institutes of Technology (IITs), Indian Institutes of Management (IIMs) and central universities, were instrumental in curbing the exodus of Indian students.
In 2015-16 when overseas education expenses by Indian students had fallen by 20% to $1.98 billion from $2.47 billion in the previous year, the government said better domestic options and tougher immigration rules in countries such as the UK were the reason.
Now, the sequential growth in overseas education expenditure indicates that more Indian students are going abroad for pursuing education. In fact, students flying from key destinations such as the US, the UK, and Australia has seen a steady rise, eg. the count of Indian students studying in the US went up from 1,32,888 in 2014-15 to 1,86,267 in 2016-17.
An HRD ministry official said that though the government is making efforts to bring in more foreign students, and improve the quality of education in domestic institutions, it will take some time before one can see the results.
At this juncture, the Study in India scheme in India seeks to attract 200,000 students in the next four years ( more than four times the present number of foreign students in India). Besides, six universities, which were granted ‘Institute of Eminence’ status by the central government, are allowed to admit 25% foreign students.(Story Courtesy:LiveMint)