Why India Must Build Its Own Harvards: Reimagining Higher Education for a Viksit Bharat

THEBUSINESSBYTES BUREAU

BHUBANESWAR, JUNE 19, 2025

India stands at a defining moment in its educational journey. With over 40 million students enrolled in higher education institutions across the country, we boast the world’s largest college-going population. Yet, a significant portion of our youth continues to look abroad for quality education — driven by aspirations for global exposure, academic prestige, and superior career opportunities. According to the Ministry of External Affairs, more than 1.3 million Indian students were studying in foreign universities as of January 2023. This migration isn’t driven by ambition alone — it reflects a persistent perception that India lacks globally competitive universities. And this academic exodus comes at an enormous cost.

A 2023 report estimates that Indians have spent nearly $47 billion over the past decade on overseas education, with Rs 67,000 crore (around $8 billion) spent in 2022 alone. For most middle-class families, sending a child abroad often requires liquidating savings, taking on high-interest loans, and enduring long-term financial stress. The price tag for attending top-tier institutions like Harvard or Stanford ranges from $50,000 to $70,000 per year in tuition alone. Add to that $20,000 to $30,000 in annual living expenses in cities like New York, Boston, or London — and the burden becomes staggering. Rising inflation, currency fluctuations, and visa uncertainties further amplify the challenge. Moreover, many students grapple with loneliness, expensive healthcare, and mental health concerns in unfamiliar environments.

A sobering reality is the lack of post-study work guarantees abroad. With countries tightening immigration policies, uncertainty looms large. The United Kingdom has recently restricted the ability of international students to bring dependents, while the pathway to long-term work visas in the United States, such as the H-1B, remains narrow and unpredictable. These trends — compounded by shifting geopolitical landscapes—highlight the urgent need for Indian students to have prestigious, safe, and world-class alternatives at home.

This is precisely why India must now focus on building its own globally competitive institutions. Why should we rely solely on foreign universities to establish campuses on our soil? Why not create homegrown institutions of global repute, conceived with Indian vision, funded by Indian capital, and rooted in Indian values?

A bold step in this direction is Vedanta Group’s recent announcement of a non-profit educational initiative. The conglomerate has pledged Rs 15,000 crore to develop a world-class waterfront Education City. Through an Expression of Interest (EOI), Vedanta has invited partnerships with state governments and local administrations. This Education City envisions a cutting-edge research university, innovation hubs, medical colleges, global faculty exchange programs, and zones focused on sustainability — an ecosystem designed to rival the world’s best campuses. The initiative echoes Vedanta’s earlier vision from 2009, when the Odisha Legislative Assembly passed the Vedanta University Bill to establish a multidisciplinary university in Puri, inspired by global benchmarks. Though that project was stalled, this new effort represents a renewed opportunity for Odisha — and India — to lead educational transformation.

The Government Is Pushing — But It Can’t Do It Alone

India’s National Education Policy (NEP) 2020 has laid a strong foundation for reforming higher education. It aspires to raise the Gross Enrollment Ratio to 50% by 2035, foster multidisciplinary institutions, and welcome top 100 global universities to open campuses in India. Initiatives like the GIFT City education hub are already making waves, with international players like Deakin and Wollongong setting up shop.

While commendable, these steps are not sufficient. Real transformation demands collective action. The private sector, philanthropists, state governments, and civil society must come together to co-create an educational ecosystem that rivals global standards.

India doesn’t lack talent — our students excel at Google, Microsoft, NASA, and global think tanks. Nor do we lack industrial potential, with sectors like technology, health tech, renewable energy, finance, and manufacturing seeing exponential growth. What we do lack is the educational infrastructure that seamlessly bridges academic learning with real-world application, innovation, entrepreneurship, and global collaboration.

As the Fourth Industrial Revolution gathers pace, Indian institutions must emerge as global hubs of research and innovation. We need universities that integrate classroom learning with industry, foster start-up culture, and solve real societal challenges.

If India truly aims to become a Viksit Bharat by 2047, we must invest in building Indian institutions with global credibility — accessible, future-ready, and driven by Indian values. The time has come to stop looking outward and start building inward. Let this be the decade India creates its own Harvards — and becomes the world’s next great education destination.