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Deregulation of Higher Education can earn enormously: Assocham

Anurag Bhullar


According to Assocham, deregulation in the field of higher education will be doubly awarded as not only this will avoid repatriation of about Rs. 50000 crore but also lead to generation of more jobs. There can be about 10-20 million job vacancies in this sector if the proposal materializes.


Nearly, five lakh students opt for abroad, every year, when it comes to earning an engineering or management degree. The preferred nations include US, Canada, Australia; where the education-seekers spend about $1500- $5000 per month. In case of premier Institutes in India, the value stands at $120 per month. However, about 99% of contenders for IITs and IIMs get rejected.


Statistics reveal that Australia has about four lakh foreign students, which gets it AUS$12 billion, on yearly basis. India, if follows in the foot-steps can fetch about 50-100 billion, in one year. Citing, ‘lack of adequate capacity’ as the cause for students getting driven to foreign universities, Assocham said that relaxing the constraints in domestic institutions can stop this flow.

 
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