Published On: Fri, Dec 23rd, 2011

CII to support FDI in Higher Education

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Nandini Rangaswamy

Nandini Rangaswamy

The leading industry advocacy body Confederation of Indian Industry (CII) supports foreign direct investment (FDI) in higher education and its National Committee on Higher Education is preparing a draft report on the same, which will be submitted to the Union Government . This is was announced by Nandini Rangaswamy, chairperson of Education Forum, CII southern region, at the ‘Innovation in Higher Education – Focus on Tamil Nadu’, conference organised by the CII.

“Our national committee on education is preparing the document. As education institutions are now administered by trusts they need to form a section 25 company to attract FDI. Once the document is
prepared we will have more details on it,” she said.

Mr N. Chandrasekaran, chair (education panel-higher and technical education), CII-Tamil Nadu, said that government should introduce differential fees structure for colleges as some might be better than others.

Tamilnadu Higher education minister P. Palaniappan said quoted a study by Technopak ‘Forecasting the Financial Potential in Education’ said that private investment in Indian higher education in 2013 would be in the region of $70 billion, which would grow to $115 billion in 2018.

Palaniappan pointed out that only 12.4 per cent of the youth in the age group of 18-23 have enrolled in higher education. “We should aim at achieving 47 per cent as reached in developed countries,” he said. He added plans were afoot in strengthening open and distance learning to resolve the question of quantity and quality in higher education.

Ms Thangam Meganathan, chairperson, Rajalakshmi engineering college, said that higher education should get relieved from regulatory authorities to achieve higher gross enrolment ratio. She noted that as long as a college does not improve its quality it cannot sustain in the present global economic situation.