USIBC-INDIA 2LST

Supporting provisions in the Bill that provide
alternative ways to confirm legitimacy, USIBC recommends that
accreditation by reputed bodies in the home country - such as
the American organisations ABET for Engineering, AACSB or
EQUIS for Business, Accrediting Council for Independent
Colleges and Schools for community colleges or Middle States
Commission on Higher Education for universities - will also
establish credibility.
Referring to the provision of the Bill which states
that no part of the surplus in revenue generated in India by
an FEP can be repatriated to its home institution, USIBC said
while this may appear to encourage growth and development of
the educational institutions established in India, it could
potentially deter that growth.
"In order for the institutions established in India to
have the same standards as those of the home-based
institutions-including curriculum, class syllabi, course
requirements etc- any surplus in revenue should contribute to
the institution as a whole. If education providers are unable
to put resources into both the domestic side as well as the
international side, the program as a whole will suffer," it
said.
Endorsing the proposed autonomy within the admission
process, the USIBC maintains that private and unaided
institutions should not be bound to provide reservations.
"This will further enable FEIs to invest in India. As
many universities currently do in the US, we would support
voluntary admission strategies to recruit minorities and bring
meritorious individuals from the bottom of the pyramid into
higher education," it said.
USIBC said that there remain investment barriers that
are unaddressed in the Bill.
As such the Indian Government can take steps to
clarify and streamline the investment process and eliminate
these deterrents.
"For example, the Bill does not clarify how FEPs would
be taxed. These FEPs must be given tax-exempt status just like
any other educational institution in India. In exchange,
quality can be demanded through high level accreditations," it
said.
USIBC also calls for establishment of "Single window
clearance" & Independent Regulatory Authority for Higher
Education, which would help to streamline the approval
process.
Observing that one of the many challenges in India is
for students and educational providers to gain access to low
cost finance, USIBC recommends that the Indian Government
should foster the education loan market and spur banks to
provide developmental financing for institutions who want to
come and set up base in India in order to spur growth of high
quality education. PTI LKJ
MRD


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