Indian students spend more than Rs 10,000 crore on foreign education every year - ASSOCHAM study

Lack of quality higher education opportunities in India, has made nearly eight lakh Indian students spend over Rs. 10,000 crore in 2012-13 on studies abroad emphasising the need for completely deregulating the education sector and opting in a big way for public private partnerships (PPP), according to a recent study by the Associated Chambers of Commerce and Industry of India (ASSOCHAM).
A recent assessment by ASSOCHAM called "Funds flows out of India for Higher Education-2013" reveals that the country needs quality institutes at par with the Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs) for students wanting to pursue careers in management, accounting, engineering and chartered accountancy. This would not only limit the outgo of foreign exchange but also spread global standards within the country increasing employability of the students in the industry and research institutions. More...