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Curbs likely on foreign universities
Monica Gupta & Sidhartha in New Delhi |
November 09, 2004 09:28 IST
The Foreign Investment Promotion Board has decided to hold back approvals for the entry of foreign universities into the country, pending a review of the norms by the human resources development ministry.
The ministry has informed the FIPB that it is planning to impose restrictions on the entry of foreign universities. The present policy allows 100 per cent foreign direct investment in the sector.
Kumon Institute of Education of Japan is the latest case, which has come up before the FIPB, seeking permission to enter the country.
Kumon has a presence in 44 countries across the globe. Officials said a similar case had come up before the FIPB recently but a decision was deferred following the FIPB move.
During the National Democratic Alliance government's tenure, the department of elementary education had also approached the FIPB, seeking a review of the norms dealing with the entry of foreign players in primary education. No decision could, however, be taken on the matter.
India had also refused to open up its education sector to foreign investors during the negotiations on services at the World Trade Organisation.
The domestic players were of the opinion that it would not be advisable to allow the entry of foreign education service suppliers to operate on commercial lines, an official said.
The FIPB has also asked the information and broadcasting ministry to clarify the position regarding foreign companies setting up joint ventures with Indian media companies and uplinking by foreign channels.
The present policy stipulates that in case of uplinking, private companies incorporated in India with permissible foreign institutional investors, non-resident Indians and persons of Indian origin, equity within limits is permitted for setting up uplinking hub (teleports) for leasing or hiring out their facilities to broadcasters.