Centre for more foreign funds in education

CII ANNUAL MEET 2007

The central government is planning to open up the country's education sector to foreign investment in a big way.

The proposal, to be moved by the human resources ministry for Cabinet approval, will allow easier norms for foreign educational institutions to set up campuses and courses in India.

Many of the courses, offered by the foreign institutions, will not come under the University Grants Commission regulations, Kapil Sibal, minister of Science and Technology and Earth Sciences, said at the annual session of Confederation of Indian Industry (CII) here today.

"We are working on the proposals. It is yet to reach the Cabinet," Sibal said.

Sibal added that growth and innovation can happen only through education. "Only eight out of 100 students who enroll in our schools reach graduation level. It has to change if we need to have sufficient technical expertise. The focus should be on innovation in agricultural sector as that benefits 80 per cent of Indian population."

Sibal also favoured genetically engineered seeds and crops that could provide additional revenues to Indian farmer.

Sibal also launched a project on Global Innovation and Technology Alliance (GITA), a project initiated by CII and Department of Science and Technology to look at identifying technology and innovation at the higher level.

The broad objective of the GITA project is to promote and facilitate technology partnership between overseas and Indian industry or institutes with the aim of enhancing technology competitiveness of Indian organisations.