Other reasons has been a decline of Indian students going in the UK and the USA, are UK tightening visa rules and the US job market experiencing a slowdown, as the Assocham paper.
Other countries like Sweden, Denmark, Italy, and Ireland are also in Indian students’ consideration list. The study observes that Indian students are looking at countries where education is considerably cheaper and part-time jobs are easier to secure, highlights the paper.
For design and fashion, the most desired destinations by Indian students are Italy and France. For hospitality management, students prefer countries like Switzerland and Australia, adds the paper.
As per the study, more than 85,000 Indians went abroad in 2005 and the count shot up to 2.9 lakh in 2013. There is a craze among Indian students to go abroad for their higher studies. It is probably due to reasons like better opportunities and lifestyle, adds the paper.
“There are several push factors behind the exodus of Indian students to foreign countries. Scholarships availability, possibility of good saving after expenditure and high employability after the degree makes Indian students to choose foreign countries for studies”, said Rawat.
Assocham suggested that “more and more quality educational institutions to be set up in India on the lines of IIT and IIM in order to restrict the outgo of students.” They also say “good quality foreign universities should be encouraged to set up in India.”
This trend can be upturned with opening up of series of quality institutions with public private partnership (PPP) by completely deregulating the higher education”, said Rawat.
As per the Assocham estimates, over 2.9 Lakhs students every year go overseas for university education which costs India a foreign exchange outflow of 15 to 20 billion dollar per annum. This amount enough to build 30 IIM’s or 50 IIT’s per year in India.
An important reason for many Indians choosing to study abroad is the lack of good institutions in India and growing competition for limited seats amongst the existing institutes. The very few universities in India provide good quality education and thus the challenge of securing admission in them becomes more daunting each year, adds the Assocham paper.
Moreover, the reservation policy reduces the availability of seats to ‘general’ category students, thereby weakening the prospects of a majority of students. Such stringent and often unrealistic requirements put students through extreme levels of pressure and lower their chances of attaining quality education.”