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Foreign Universities Target India as New Report Projects 5.6 Lakh Students and $113 Billion in Forex Savings by 2040

The study spotlights the policy framework guiding entry, identifying the cities best placed to host new campuses.

Overview

  • A Deloitte IndiaKnight Frank India analysis introduces a 40-city readiness framework, ranking Delhi-NCR first, followed by Bengaluru and Mumbai, with Chandigarh and Kochi showing mid-level potential.
  • The report estimates demand for roughly 19 million square feet of specialised education-linked real estate spanning teaching, research and student housing.
  • Eighteen foreign universities have received UGC or IFSCA clearances at varying stages, with Deakin and Wollongong in GIFT City and Southampton in Gurugram already operating bases.
  • Reforms under the National Education Policy 2020 and frameworks from the UGC and IFSCA enable independent campuses, joint ventures and other transnational models in India.
  • The opportunity is anchored in a capacity gap, with about 53 million current tertiary enrolments, roughly 7.6 lakh students going abroad in 2024, and a GER target of 50% by 2035 requiring around 72 million students.