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February 19th, 2007, 08:12 PM
India spends $11 billion on studying abroad
New Delhi: Every year the government spends $ 11 billion on nearly 120,000 students who leave the country to study abroad. However, this money should be spent in improving the education system in the country, believes an industry body.
The government can use this money to build 40 IIMs (Indian Institute of Management) and 20 IITs (Indian Institute of Technology) says the Associated Chambers of Commerce and Industry of India (Assocham).
Expenditure on education is almost eight percent of the GDP (gross domestic product), most of which comes from private funding and hence remains confined to urban areas where only 30 percent of the population resides.
The study revealed that global trade in higher education is estimated at $30 billion. US, Britain, Canada, New Zealand and Australia are the major exporters while India, China, Indonesia, Philippines are the major importers, the study revealed.
According to Assocham, Singapore and Malaysia have attracted quality higher education institutions from many advanced countries and they have also been able to attract a large number of foreign students.
The study highlighted the fact that while India attracts less than 8,000 foreign students for higher education every year, China hosts more than 140,000 foreign students. Singapore and Malaysia attract over 70,000 and 30,000 foreign students respectively.
"India needs a larger number of educational institutions, seats and higher quality in the area of higher and technical education. Rationing, quotas and reservation can never address the actual situation," Dhoot said.
"The solution lies in complete decontrol of all forms of higher technical education," he
By 2011, the US workforce will expand by 10 million, Europe's will not increase and Japan's will decline by three million. In this scenario, it is important that people in India have access to high quality higher education and training system, whether within the country or abroad, Assocham said.
Source: SiliconIndia
New Delhi: Every year the government spends $ 11 billion on nearly 120,000 students who leave the country to study abroad. However, this money should be spent in improving the education system in the country, believes an industry body.
The government can use this money to build 40 IIMs (Indian Institute of Management) and 20 IITs (Indian Institute of Technology) says the Associated Chambers of Commerce and Industry of India (Assocham).
Expenditure on education is almost eight percent of the GDP (gross domestic product), most of which comes from private funding and hence remains confined to urban areas where only 30 percent of the population resides.
The study revealed that global trade in higher education is estimated at $30 billion. US, Britain, Canada, New Zealand and Australia are the major exporters while India, China, Indonesia, Philippines are the major importers, the study revealed.
According to Assocham, Singapore and Malaysia have attracted quality higher education institutions from many advanced countries and they have also been able to attract a large number of foreign students.
The study highlighted the fact that while India attracts less than 8,000 foreign students for higher education every year, China hosts more than 140,000 foreign students. Singapore and Malaysia attract over 70,000 and 30,000 foreign students respectively.
"India needs a larger number of educational institutions, seats and higher quality in the area of higher and technical education. Rationing, quotas and reservation can never address the actual situation," Dhoot said.
"The solution lies in complete decontrol of all forms of higher technical education," he
By 2011, the US workforce will expand by 10 million, Europe's will not increase and Japan's will decline by three million. In this scenario, it is important that people in India have access to high quality higher education and training system, whether within the country or abroad, Assocham said.
Source: SiliconIndia