Foreign universities will create talent pool, says Sibal
September 7th, 2010 - 12:55 am ICT by IANSBangalore, Sep 6 (IANS) Defending the proposed entry of foreign universities in India, union Human Resource Development Minister Kapil Sibal Monday asserted that they would help create a talent pool for the country.
“We have a foolproof plan for the entry of foreign universities. Any foreign varsity entering India will have to create a $12-million corpus fund and profits will not be allowed to be expatriated to shareholders,” Kapil told reporters here on the margins of a function.
Allaying concerns over the Foreign Educational Institutions (regulation of entry and operation, maintenance of quality and prevention of commercialisation) Bill, Sibal said they would have to re-invest 75 percent of profit in the school or university and the rest would become a part of the corpus fund.
“The bill is in line with the 2020 vision of top management guru C.K. Prahalad to create an educated talent pool with access to higher education for about 200 million people,” Sibal said.
Though foreign universities will have the right to form their own fee structure and admission rules, they will have to function within the purview of the Indian regulatory system, as envisaged in the Right to Free and Compulsory Education (RTE) Act 2009.
“If we realise this vision through universalisation of education, attaining double digit growth and economic prosperity will be possible,” Sibal pointed out.
Sibal was in this tech hub to deliver the Vithal Chandavarkar memorial lecture at the Indian Institute of Science (IISc).
Chandavarkar was an industrialist, who served as Mayor of Bombay (now Mumbai) and also as vice-chancellor of the University of Mumbai.
- Quota for poor kids in private schools mandatory: Sibal - Sep 07, 2010
- Government hopeful of passing important education bills - Apr 22, 2012
- Sibal to table Higher Education Reforms Bill in Parliament - May 02, 2010
- Sibal to table Higher Education Reforms Bill in Parliament today - May 03, 2010
- Sibal calls for more awareness on RTE - Oct 19, 2011
- Foreign university bill introduced in Lok Sabha (Lead) - May 03, 2010
- RTE should cover higher secondary education: Sibal - Jun 07, 2011
- Foreign university bill introduced in Lok Sabha - May 03, 2010
- Education must be above political agenda: Sibal - Apr 18, 2012
- Sibal calls for quality education, excellence in science research in Universities - Jan 03, 2011
- Meta university by next year: Sibal - Feb 03, 2012
- Sibal underlines role of Govt. schools in implementing RTE - Sep 17, 2010
- National body for controlling teachers largely welcomed - Sep 04, 2011
- Rajya Sabha passes bill to include disabled in RTE Act (Lead) - Apr 24, 2012
- No proposal to set up madrassa board, says Sibal - Mar 02, 2011
Tags: admission rules, compulsory education, development minister, double digit growth, economic prosperity, educational institutions, foolproof plan, human resource development, indian institute of science, industrialist, kapil sibal, management guru, memorial lecture, operation maintenance, purview, regulatory system, talent pool, universities in india, vice chancellor, vithal