Key provisions

• Introduced in October 2022, the regulations permit foreign universities to establish branch campuses in GIFT City with relaxed regulatory conditions.
• Universities can repatriate funds in freely convertible foreign currencies.
• Indian infrastructure norms for universities are not applicable within GIFT City.
• Branch campuses can offer courses in financial management, fintech, STEM, and research programs.

UK Universities at GIFT City

Queen’s University Belfast-

• Approved to set up a campus in GIFT City; third foreign university to establish a base there.
• Initial plans include a postgraduate program starting with 800 students.
• Future plans involve research arms and potential undergraduate courses.
• Queen’s University Belfast, nearly 200 years old, is a Russell Group member and ranks in the top 200 globally for impact and sustainability.\
• Over 1,000 of Queen’s 24,000 students are from India.

UK Universities at GIFT City

Coventry University:

• Proposed to establish a campus in GIFT City.
• Founded in 1843, it already operates campuses in Egypt, Poland, Morocco, and Kazakhstan.
• Launched an “India Hub” in Delhi in March 2024 to collaborate with Indian academia and industry on global challenges.

Australian Universities in GIFT City

Deakin University:

• First foreign university to open an international campus at GIFT City in January 2024.
• Enrolled its first batch of 45 students in July 2024 for a postgraduate program in business analytics and cybercrime.
• Students hail from Gujarat, Maharashtra, Delhi, Chennai, and Bengaluru.
  University of Wollongong (UOW):
• Opened a campus in November 2024.
• Offers a Master’s program in Financial Technology.

Foreign University Norms for GIFT City

• Universities receive GIFT IFSC registration for five years, renewable for an additional five years.
• Eligibility criteria include:
  • A top-500 rank in global or subject-specific QS World University Rankings.
  • Reputable standing in their home jurisdictions.

Impact of the Campus Establishments

• Strengthens GIFT City’s position as a global education and financial hub.
• Offers Indian students access to world-class education and research opportunities.
• Encourages collaboration between foreign universities, Indian industry, and government.

CONCLUSION

The establishment of international branch campuses by globally renowned universities at GIFT City marks a significant milestone in India’s journey toward becoming a global education and financial hub. By fostering collaboration in education, research, and innovation, these campuses not only provide Indian students access to world-class programs but also strengthen GIFT City’s position as a center for excellence in financial and technological advancements.

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