Manipal Global Education Services, the Rs 1,200 crore higher education major, is looking to spin off its overseas arm into a separate entity. The overseas arms with operations in Malaysia, Nepal, Antigua and Dubai contribute as much as 55 per cent to the revenues and this will be the precursor to raising $100 million through the private equity route in the overseas arm.
In a previous op-ed (India fails test of 'knowledge economy', Asia Times Online, November 30, 2012), I drew attention to what can be called a "research deficit" in India's higher education. In it, I mentioned a study by Thomson Reuters according to which India produced only 3.5% of the global research output in 2010 and its contribution in most disciplines - including mathematics and computer science - was lower than its overall average.
In a sudden development, the Maharashtra government has dropped the plan to introduce a special act to regulate private universities, which are expected to come up in large numbers. This sudden U-turn by the government came even though the cabinet had cleared the bill by the state higher and technical education department on December 13.
Will the 13 proposed private universities do what the professional colleges did for Karnataka? Both the government and the academics vouch for the need to have private sector participation in higher education and welcome the state legislature's nod to have 13 new private universities in the state. Presently, the state has two private varsities, the Alliance University and Azim Premji University.
Karnataka, whose capital Bangalore is a major attraction for students across India for education, particularly engineering and medical courses, is to get 13 more private universities, taking their total to 15.
Punjab assembly passed two controversial bills on Friday, paving the way for two private universities to come up in the state even as the treasury benches ridiculed private varsities terming them as teaching shops set up to mint money.
The Supreme Court, while deciding to examine the validity of the National Eligibility and Entrance Test (NEET), has permitted private medical colleges to conduct their own entrance tests for admission to MBBS/postgraduate/dental courses but they should not declare the results until its further orders.
Ten years after private engineering colleges made their way in the state in 2002, the cash-strapped state is all set to throw open its doors to self-financing degree colleges and universities as in other parts of the country. The proposal will be placed in the Cabinet for the final nod.
Pitching for the private sector to play a bigger role in higher education, President Pranab Mukherjee on Friday said the private sector needed to step up its efforts to convince the people that it offered the best quality of education compared to the highest international standards.
The private vs. government debate is not a new one in education, but is less applicable to the university landscape. But it has gained momentum in Karnataka now in the backdrop of as many as 13 new private universities getting the green signal from the government to establish themselves in the State. So far, there were only two in Karnataka.
Indian President Pranab Mukherjee on Friday gave a speech calling for better standards and an enhanced private-sector role in higher education, Outlook India reported.