" Why they wont come to teach you from harvard " is the cover story for the current issue of Forbes India Magazine.
Now that the Cabinet has approved the entry of foreign universities into India, expect education to go the way of the dotcom and the real estate boom that happened in the last decade. Shocking, no? Totally. This in spite of both the minister — Sibal — and the entrepreneur — Gupta — wanting to do the right thing.
If the minister thinks that by allowing foreign universities he can help significantly more Indians to graduate then that’s not going to happen. If Gupta thinks that by rapidly scaling up his campuses he can deliver education of a quality that makes students employable, then that too is bit of a stretch.
Since the bill was approved, all of six universities have shown an inclination to enter India. Virginia Tech, Georgia Tech, Schulich School of Business, Boston University, Middlesex University and
Duke University.
But what about the big names: Harvard, Cambridge, Yale, Stanford? Don’t hold your breath. They won’t be coming. Not any time soon. That’s ugly reality #1.
Source : http://business.in.com/article/real-issue/why-they-wont-come-to-teach-you-from-harvard/12042/1
Forbes points out that brand dilution is one of the major reasons for these bschools not entering a profit centre like India where the education needs are growing at a phenomenal rate.
What we do have to realize here is, if foreign universities are soo brand aware, what about our own IIT's and IIM's? Should we dilute our brands by expanding the number of IIM's and IIT's across the country? As the number of IIM's and IIT's increase, maintaining quality and meeting expectations becomes more and more difficult. Let scaling up and diversifying be in the forte of private institutes while we maintain a extremely high quality of education at our public institutes.
I agree with forbes to a certain extent when they say its about time we let Institutions run like a profit center than control it with regulations of AICTE and UGC etc.
Illustration: Malay Karmakar
Another article at forbes speaks about how profitable the education sector is in India. The cost of setting up a school in a metro on a 2 acre land with a building and decent infrastructure that can support 1000 children costs about 15 - 25 crores.
More details at http://business.in.com/article/work-in-progress/the-business-of-schools/12062/1
Career Launcher, Educomp, Manipal Education, Tutorvista are early movers in this business of education which is predicted to skyrocket in the years to come and there is no reason why the government shouldn't be liberalizing the education sector.
Now that the Cabinet has approved the entry of foreign universities into India, expect education to go the way of the dotcom and the real estate boom that happened in the last decade. Shocking, no? Totally. This in spite of both the minister — Sibal — and the entrepreneur — Gupta — wanting to do the right thing.
If the minister thinks that by allowing foreign universities he can help significantly more Indians to graduate then that’s not going to happen. If Gupta thinks that by rapidly scaling up his campuses he can deliver education of a quality that makes students employable, then that too is bit of a stretch.
Since the bill was approved, all of six universities have shown an inclination to enter India. Virginia Tech, Georgia Tech, Schulich School of Business, Boston University, Middlesex University and
Duke University.
But what about the big names: Harvard, Cambridge, Yale, Stanford? Don’t hold your breath. They won’t be coming. Not any time soon. That’s ugly reality #1.
Source : http://business.in.com/article/real-issue/why-they-wont-come-to-teach-you-from-harvard/12042/1
Forbes points out that brand dilution is one of the major reasons for these bschools not entering a profit centre like India where the education needs are growing at a phenomenal rate.
What we do have to realize here is, if foreign universities are soo brand aware, what about our own IIT's and IIM's? Should we dilute our brands by expanding the number of IIM's and IIT's across the country? As the number of IIM's and IIT's increase, maintaining quality and meeting expectations becomes more and more difficult. Let scaling up and diversifying be in the forte of private institutes while we maintain a extremely high quality of education at our public institutes.
I agree with forbes to a certain extent when they say its about time we let Institutions run like a profit center than control it with regulations of AICTE and UGC etc.
Illustration: Malay Karmakar
Another article at forbes speaks about how profitable the education sector is in India. The cost of setting up a school in a metro on a 2 acre land with a building and decent infrastructure that can support 1000 children costs about 15 - 25 crores.
More details at http://business.in.com/article/work-in-progress/the-business-of-schools/12062/1
Career Launcher, Educomp, Manipal Education, Tutorvista are early movers in this business of education which is predicted to skyrocket in the years to come and there is no reason why the government shouldn't be liberalizing the education sector.