PM Modi seeks law that allows Yale, Oxford to open institutions in India

New Delhi : Indian Universities have produced people who have ended up becoming CEOs of some of the top companies in the market and now Prime Minister Narendra Modi is trying to take it even further with a law that will enable Yale and Oxford level institutions to come and teach in India.

PM Modi's government is pushing to overhaul the country's heavily regulated education sector to woo nearly 750,000 students who spend about $15 billion each year pursuing degrees overseas, Education Minister Ramesh Pokhriyal 'Nishank' said in written responses to questions.

The legislation, which will regulate the operation of foreign institutions in India, is being prepared for an approval in Parliament.

It represents a change of heart for the ruling Bharatiya Janata Party, which has long resisted opening up the country's education sector.

"There has been lot of enthusiasm," Mr Pokhriyal said, noting that Australia's government and some universities had shown interest in the proposal. "Very soon, India will have some of the finest, world-class institutions."