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The University of Chicago had opened a centre in Delhi two months back. Virginia Polytechnic Institute and State University, popularly known Virginia Tech, is opening its centre in May. Harvard Business School has an Indian research centre in Mumbai, and Deakin University, a well-known name from Australia, has a centre in New Delhi.
A couple of foreign institutions are likely to open centres this year as well, an official from the human resource development ministry said on condition of anonymity.
While experts say India is a huge market to be ignored by anybody, including the education sector, universities said brain drain is no more the key focus and to capture the education potential of the market, they cannot operate by just flying in and flying out.
“Virginia Tech believes that India’s growing population and expanding industrial sector is well positioned for high-quality research and graduate education in the areas of science and technology through a model of collaborative research, education and engagement,” Guru Ghosh, associate vice-president of international affairs at Virginia Tech.
The Indian education market is likely to be worth Rs.5.9 trillion in 2014-15 as against Rs.3.33 trillion
in the 2011-12 financial year, according to rating agency India Ratings.For now, executive education is the way forward for overseas institutions.Harvard Business School offers customized executive education.