India is the largest remittances recipient ($21.7 billion) . One big reason for these high remittances is that Indian students excel, and stay back in the country (like USA, UK)where they get their higher education. This, has helped prop up our economy in a big way. If students do not go abroad, these remittances will dry up.
Another contribution from Indian students going abroad is that they form the core Indian Diaspora. There have been several studies, which show that India benefits tremendously from Indian Diaspora. A study conducted for the World Bank Institute in Washington, D.C., by Evalueserve Inc , finds that offshoring phenomenon took off with the contribution from Indian Diaspora. The study also states that that those professionals who had moved in 1960s had pursuaded their companies to start operations in India, or had themselves invested in India. Coward from University of Washington also suggests that one of the factors affecting the decision to outsource to a country is the diaspora connection.
Thus, with the introduction of the bill, Indian Economy will lose and US will gain the revenues without the hassle of providing immigration to Indian students.
A wonderful thing to happen if permissions are granted. India needs such unversities focussing on Research. The Universities can Seek the government of Andhra Pradesh's help for land to establish their campuses(I am sure they wont bother to have them in exchange to their new IIT's demand). All n all ,anywhere in India it will open up host of opportunities for its students.
Will the govt is going to extend the 50% reservation rule to these foreign universities. If the answer is affirmative, then I dont want these universities to come down here and put there quality reputation at stake.
