India is a vast and diverse country and inequality in such an economy is nothing new. It is a fact which we can’t deny. Yet, to oppose Foreign Direct Investment (FDI) is not the best remedy to eliminate the inequality. India should welcome FDI especially in relation to opening foreign colleges in the home turf.
India must be farsighted, wise and courageous enough to take this risk. Profit comes in the form of risk. It’s a business. No risk, no profit.
FDI may not reduce the gap between rich and poor but it will bring competition and development in the Indian education system. If India believes education is the key to development of a nation. It is high time to welcome the foreign universities to run in India.
“I got the admission for creative writing course in London metropolitan university, but I couldn’t really go there as the living expenditure over there seems so high.” Tsering said, “I wish a foreign university will open its branch in India soon.”
FDI will bring not only raise the standard education at lower price but it will also end the monopoly of the few private colleges in the country.
Let the rich students join the private colleges run by the foreign universities, and let the government improve the quality of public colleges for the poor students.
No brain drain, no patriotism
Brain drain is an issue much over hyped but it is not as big a problem as it seems. Foreign universities are setting up in India not for political purposes but for economic profit. Indian millionaires abroad will also start colleges in India with love and patriotism.
Changing city names-Bombay to Mumbai, Bangalore to Bengaluru, and Kolkata to Calcutta is not real patriotism or a gesture of ‘Indianness.’ It is a mere drama. It is a show off of the few political leaders’ affected patriotism fueled by the heavy vote bank politics played here.
Changing of city names and changing of the names of the shops and theaters into regional languages in few states do is an expression of petty patriotism and a major reason behind communal riots.
Let them show their love in the form of educational development and eradication of the caste system. If they really care for its India and its people, the AFSPA -Armed Forces (Special Power) Act should be put to an end.
India is a big market
India is huge, and its large in population makes India a big market for the investors; be it education, outsourcing jobs like call centre or even the foray of the big MNCs (Multi-National Corporations) in India.
Investment in India is not a con, it is a pro but it depends on what type of restrictions India will impose and what kind of prerequisites it will put on the investors.
India’s literate youth population has increased by 2.5% in a span of just eight years from 2001-2009, according to the Indianforeignpolicyblogs.com. In such a scenario, India is a lucrative market for the foreign investors. Needless to say, there are many young minds hungry for a good, wholesome education and the Indian government should do just that.
Yet, the Indian government continues to ignore the merits of FDI. In fact, Indian FDI trails behind China by 10%, reports economywatch.com.
A wise decision with an attractive policy on FDI will bring prosperous and rapid economic development in the offing.
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