Gujarat’s business district, GIFT city (Gujarat International Finance Tec-City), is set to get traction as international education institutes enter the corporate landscape.

GIFT city hosted the University of Wollongong (UoW) Australia on Sept 18, which plans to start its campus at GIFT City by July 2024. 

The vice president, Patricia Davidson, unveiled the Indian logo of the University of Wollongong and said that the Indian government had directed the university to operate its campus in GIFT city premises only.

UoW’s global brand ambassador and renowned Australian cricketer Adam Gilchrist was also present at the event.

As per the centre’s guidelines, international universities will only be able to start their campus in Gandhinagar’s GIFT city. 

The Indian government, through the International Financial Services Centres Authority (IFSCA), invited applications for setting up an International Branch Campus (IBC) or Offshore Education Centre (OEC) under the IFSCA regulations, which were issued in Oct 2022.

In the union budget 2022-23, union finance and corporate affairs minister Nirmala Sitharaman had also announced, “World-class foreign universities and institutions will be allowed in the GIFT City to offer courses in financial management, FinTech, science, technology, engineering, and mathematics, free from domestic regulations, except those by the IFSCA to facilitate the availability of high-end human resources for financial services and technology.”

University aims for 500 students

UoW aims to start undergraduate and postgraduate courses with 500 students initially. 

Taking into consideration the volume of the IT sector in GIFT city, the university plans to offer courses in the field of finance technology. Masters and graduation in computer-data analysis courses will commence in 2024.

Moreover, IT and other professionals can apply for courses along with their on-going jobs.

Course fees lower for Indian students

The courses will be designed in accordance with the National Education Policy (NEP). The curriculum and fee structure would be according to government directions.

The student fee at the IBC will be 50% less for Indian students, after which it is set to be around  ₹8 to ₹9 lakh for the 12-18 month duration.

As per this regulation, education centres that are in the top 500 global rankings or QS world university rankings could establish their OEC or IBC in India.

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