How many foreign universities have set up bases in GIFT City? Are there more in the pipeline?
The arrival of Deakin University, the University of Wollongong and Queen’s University Belfast represents the first phase of GIFT City’s development as an international education hub. These institutions bring strong capabilities in financial technology, artificial intelligence, cyber security, business analytics, finance and project management.
We are engaging with several other reputed international universities. However, our objective is not simply to maximise the number of campuses. We are looking for institutions that bring academic excellence, globally recognised qualifications, serious research capabilities and a willingness to collaborate with industry. Further names will be announced after the universities complete their internal decision-making and obtain the necessary regulatory approvals.
Why are foreign universities looking to establish campuses in India and specifically in GIFT City?
India offers a combination that very few countries can match: a young population, large pool of technically qualified students, rising demand for high-quality education and one of the world’s fastest-growing major economies. International universities increasingly recognise that India must become an integral part of their long-term global strategy where they teach, conduct research, develop talent and build partnerships with industry. GIFT City provides an additional and distinctive advantage. It is a functioning international business district in which universities are located alongside banks, fund managers, insurance companies, fintech firms, technology companies, among others.
This proximity connects education and industry. Students can work on live business problems, interact with practitioners and gain exposure to internationally oriented institutions. Similarly, universities can undertake research that respond directly to the requirements of industry.
What are some enabling regulations?
Foreign universities can establish international branch campuses in GIFT IFSC under the IFSCA (Setting up and Operation of International Branch Campuses and Offshore Education Centres) Regulations 2022. Parliament created this specialised route to allow reputed foreign universities to operate within the IFSC under a framework suited to an international education and business ecosystem.
The UGC framework is a national route for foreign campuses established anywhere in India. The IFSCA route is specifically designed for GIFT IFSC. Its distinguishing features are the specialised regulatory pathway, foreign-currency environment, repatriation flexibility, direct branch-campus structure and integration with an international financial and technology ecosystem.
Is stringent visa norms a factor for foreign universities coming to India?
Changes in visa policies, higher overseas living costs and geopolitical uncertainty have undoubtedly encouraged universities to reconsider how they reach international students. However, it would be incorrect to view this merely as a response to tighter visa regimes. A much larger structural shift is taking place. International universities recognise that a direct presence in India is strategically important. A GIFT City campus also gives universities a more diversified and resilient international model.
What kinds of courses and placement support do universities located in GIFT City offer?
Deakin University offers programmes in areas such as business analytics, cyber security and applied artificial intelligence. The University of Wollongong offers programmes covering financial technology, computing, data analytics, artificial intelligence, business and finance. Queen’s University Belfast has identified programmes in finance, financial analytics, business analytics, construction project management and artificial intelligence.
As the ecosystem develops, we expect the academic portfolio to expand into areas such as risk management, sustainable finance, climate technology, regulatory technology, international taxation, quantitative finance, digital assets, semiconductor technologies and global business management. The larger opportunity is to move beyond conventional placement support as these universities are situated within an active business district.
Is the education affordable compared to campuses abroad?
Yes. Although each university independently determines its fees, studying at an international university’s GIFT City campus can substantially reduce the overall financial burden. The comparison must go beyond tuition fees. A student studying overseas normally incurs significant expenditure on accommodation, travel, insurance, visas and daily living. Exchange-rate movements add another element of uncertainty. Studying in India can eliminate or substantially reduce many of these costs.
It also makes international education accessible to students who possess the academic ability but may be unable or may not wish to relocate overseas for an entire degree. Universities too provide opportunities for exchanges, short-term study, joint projects and mobility between the GIFT City and the parent campus. This is not simply a lower-cost substitute for studying abroad but a new educational model.
How must India view this opportunity?
India should not view the arrival of foreign universities only through the narrow lens of Indian students obtaining overseas degrees without leaving the country. GIFT City can become a platform where Indian and international faculty collaborate, universities work with industry on real-world challenges, and students from India and other countries study together. In the longer term, we want to attract students from South Asia, the Middle East, Africa and other emerging regions. We envisage a virtuous cycle: international businesses attract global academic institutions; institutions create specialised talent and research capabilities and that talent and research, in turn, attract further businesses, investment and innovation.
The success of this initiative should not be measured merely by the number of university campuses. It must be measured by the quality of graduates, relevance of research, innovation generated and the contribution these institutions make to India’s emergence as a global centre for finance, technology and knowledge.