This proposal will provide opportunities to foreign universities to independently operate in India, says Nair & Co. which provides global HR services for companies setting up foreign operations.
Below are highlights of the draft rules that Foreign Educational Institutions (FEIs) would be required to follow:
* A FEI planning to operate in India would be required to hold a position in the top 400 universities, based on the any one of three global rankings:
* Times Higher Education,
* Quacquarelli Symonds (QS), or
* The Academic Ranking of World Universities (ARWU) by Shanghai Jiao Tong University.
* Such FEIs would have to register themselves as a “non-profit company” under the Indian Companies Act.
* It would be necessary for FEIs to maintain a corpus of more than or equal to Rupees 25 crores (about USD 3.9 million), before being notified as a Foreign Education Provider (FEP) by the University Grants Commission (UGC). After being notified, such institutions would be allowed to set up campuses in India.
* Degrees honored by these FEIs would be considered as foreign degrees and will be subject to the equivalence granted by the Association of Indian Universities (AIU).
* FEIs planning to apply under the rules should also meet the below criteria:
* Should be Non-profit entities,
* At least twenty years of existence, and
* Accredited by an accrediting agency of host country or by an internationally accepted system of accreditation (only if accreditation of that country does not exist).
For more information about doing business overseas (http://www.nair-
International Business Guide (IBG) (http://www.nair-
Get the latest news releases and updates on international tax, HR, Finance, compliance and other legal news at Nair & Co. Industry Alerts (http://www.nair-
About Nair & Co.
Nair & Co. provides you with your one touch outsourced finance, HR, legal and global tax compliance department for your international operations. If you are expanding abroad for the first time or increasing your global footprint, our turnkey solutions help you do so with minimal risk, stress and cost. We support 1000+ client operations in over 56 countries and have core offices in U.K., India, China, U.S., Japan and Singapore. Nair & Co. was named among the top 100 outsourcing services providers in the world by the International Association of Outsourcing Professionals (IAOP). Learn more at www.nair-co.com (http://www.nair-
Read more on: International Business Consulting Services (http://www.nair-