Deakin University Becomes First Foreign Varsity to Get Nod For Opening Campus in India

The International Branch Campus will be set up in Gujarat International Finance Tec-City (GIFT City).

Deakin University of Australia Latest News: Good news for aspiring students! The Deakin University of Australia has become the first foreign varsity to receive approval of the International Financial Services Centres Authority (IFSCA) to set up an International Branch Campus (IBC) in India, an official said on Friday. The International Branch Campus will be set up in Gujarat International Finance Tec-City (GIFT City).

“By virtue of this approval, Deakin University will be able to offer the same degree courses it offers in Australia in the areas of Science, Technology, Engineering, Mathematics and Financial Management in GIFT IFSC to both Indian and foreign students. The degree offered shall be identical or similar to that offered in the home jurisdiction,” IFSCA chairperson Injeti Srinivas was quoted as saying by the news agency IANS.

“Apart from making available world class education within India (GIFT-IFSC), it is also expected to be a huge value proposition in terms of reduced costs for students with greater international employment opportunities. This will also lead to greater internationalisation of GIFT-IFSC by attracting students from all parts of the world,” he further said.

Earlier in the Budget 2022-23 speech, Finance Minister Nirmala Sitharaman announced that “world class foreign universities and institutions will be allowed in the GIFT City to offer courses in Financial Management, FinTech, Science, Technology, Engineering and Mathematics, free from domestic regulations, except those by the IFSCA to facilitate availability of high-end human resources for financial services and technology”. The IFSCA said that the setting up of world-class educational institutions in GIFT will contribute to developing a robust extended ecosystem and make available high-end human resources to the financial institutions operating out of GIFT City.

(With Inputs From IANS)