Deakin University first to get approval for setting up campuses in Gujarat's GIFT city

NEW DELHI: Deakin University, Australia, has become the first foreign university to receive approval for an International Branch Campus (IBC) in GIFT-IFSC, GIFT City, Gujarat from the International Financial Services Centres Authority (IFSCA). The university has been approved in-principle by the IFSCA based on GIFT City Company Limited's recommendation.

The university will now be able to offer the same degree courses as 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 will be identical or similar to that offered in the home jurisdiction.

According to the expressions of interest received so far, GIFT IFSC expects that the entry of the first foreign university will establish the stage for many more institutions of global repute to follow, based on interest expressions so far.

Shri Injeti Srinivas, Chairperson, IFSCA, said: “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.”

The establishment of world-class educational institutions at GIFT IFSC will contribute to the development of a robust ecosystem and make GIFT City more attractive to financial institutions looking for high-end human resources. This will also help in promoting deep collaboration between academia and industry resulting in financial innovations.