New Delhi is poised for a transformative leap in its education sector, with a new report revealing that inviting foreign universities could save the country a staggering $113 billion in foreign exchange by 2040. Released by Deloitte India and Knight Frank India, the study highlights how strengthening the presence of international higher education institutions within the nation could stem the massive outflow of funds currently spent on overseas studies.
The report projects a need for approximately 19 million square feet of vertical campus space to accommodate these global players. This strategic move aligns perfectly with the National Education Policy (NEP) 2020, which aims to elevate India from a major student-exporting nation to a global knowledge hub. Currently, around 53 million students are enrolled in higher education, with government targets set to boost the Gross Enrolment Ratio (GER) to 50% by 2035, potentially increasing student numbers to 72 million.
A glaring gap in high-quality institutions persists, as evidenced by last year’s JEE results: 54,000 students qualified across all levels for engineering seats, yet premier IITs offered only 18,000 spots. This mismatch underscores the urgent need for more world-class opportunities. Shishir Baijal, Chairman and Managing Director of Knight Frank India, notes that the sector is undergoing historic change, with 18 international universities already approved or operational.
Success will hinge on focusing on curriculum excellence in high-demand fields like STEM, AI, data science, and management, rather than mere enrollment numbers. Prime locations such as Delhi-NCR, Bengaluru, and Mumbai offer robust corporate ecosystems, while Tier-2 cities like Chandigarh, Kochi, and Jaipur emerge as promising hubs due to superior infrastructure and governance.
To thrive, foreign campuses must build strong faculty pipelines and adopt administrative models that balance academic autonomy with Indian regulations. This influx promises not just forex savings but a renaissance in India’s educational landscape, fostering homegrown talent and innovation.