Indian Students Studying Abroad Leads To $6 Billion Deficit In India


Rohit Kulkarni

Rohit Kulkarni

Jul 27, 2024


India’s current account balance has faced a $6 billion deficit, essentially driven by the growing trend of Indian students pursuing education abroad. Over the past decade, education-related travel expenses by Indians have rised from $2.46 billion in FY15 to $6.3 billion in FY24.

Indian Students Studying Abroad Leads To $6 Billion Deficit In India

Decline in Foreign Student Intake and India’s Efforts to Internationalize Education

The intake of foreign students by Indian universities has remarkably declined. Revenue from travel to India for education motive dropped from $519 million in FY15 to $247 million in FY24. In spite of little recovery in forex revenue from education-related travel to India in FY23 and FY24, it remains well below the 2014-15 levels.

The National Education Policy (NEP) 2020 highlighted internationalizing education to address the declining foreign student intake. The University Grants Commission (UGC) provided rules for academic collaborations between Indian and foreign higher education institutes, allowing twin and/or joint degrees. Additionally, the UGC introduced instruction for establishing Offices for International Affairs in higher education institutions to ease foreign student enrollment.

Challenges and Initiatives in Attracting Foreign Students to India’s Higher Education Sector

In 2018, the Indian government launched the ‘Study in India’ programme, aiming to attract 200,000 foreign students by 2023. Scholarships and fee waivers were provided to meritorious foreign students, and student exchange programs were helped through MoUs with friendly countries. According to the All India Survey on Higher Education (AISHE) Final Reports, foreign student enrollment in Indian higher educational institutions increased by only 16.68% from FY15 to FY20.

The pandemic further affected foreign student enrollment, with numbers dropping to 48,035 in FY21 and 46,878 in FY22. Most of India’s education exports are directed toward South Asian and African nations, with Nepal sending the largest contingent of students.

Biswajit Dhar is retired professor at Jawaharlal Nehru University highlighted the crisis in India’s higher education sector due to insufficient funding. The cost of quality education has risen, with private universities charging higher fees, pushing foreign students from low-income countries to search for more affordable options somewhere else.


Rohit Kulkarni
Rohit Kulkarni
  • 1124 Posts

Subscribe Now!

Get latest news and views related to startups, tech and business

You Might Also Like

Education
Oct. 27, 2022

Byju’s Fires 170 Employees In Kerala; They Ask Minister To Intervene & Stop These Terminations

A group of employees from Byju’s on October 25 met Kerala labour minister V Sivankutty, accusing the company of forcing more than 170 staff to resign, as it plans to discontinue operations in Thiruvananthapuram. Minister stepping in The group approached Prathidhwani, a welfare organisation of techies for help. Prathidhwani requested Sivankutty to step in and […]

Education
Sep. 18, 2022

Indian Students Who Went To Ukraine Had Poor NEET Score; Can’t Be Allowed To Study In Indian Colleges

The government told the Supreme Court that Indian students who were studying in Ukraine but had to return home due to the war cannot be accommodated in Indian universities. There was no provision for it in the National Medical Commission Act. Background Thousands of Indian students studying MBBS in Ukraine had to abandon their studies […]

Education
Aug. 29, 2022

Delhi Has Maximum Fake Universities; UGC Names These 21 Fake Universities In Delhi, UP, Bihar

The University Grants Commission (UGC) has named 24 “self-styled” fake universities and has found two more in violation of norms. The state-wise details are available on UGC’s website ugc.ac.in. Delhi Delhi has the highest fake universities at eight. They are- All India Institute of Public & Physical Health Sciences Commercial University Ltd. Daryaganj United Nations […]

Education
Jul. 31, 2022

All Govt Schools Will Be Converted Into Co-Ed In This State: But Why?

The Assam cabinet has decided to convert all all-girls government schools in the state to co-ed schools. Turning co-ed This is reportedly a step to ensure gender equality. Education minister Ronoj Pegu said that except a few schools with historical background, all government-run girls-exclusive schools in the state will be converted into co-educational ones. Math […]

Recent Posts

Related Videos

   

Subscribe Now!

Get latest news and views related to startups, tech and business

who's online