How B-Schools can Flourish with the new Revised NEP?

Since the release of National Education Policy (NEP) there has been multiple updates regarding the policy. However, there are both negative and positive reviews regarding this policy.

There has been a plenty of debates about the features, which includes setting up of a National Research Foundation, National Education Technology Forum, and Special Education Zones.

Along with these features, the NEP major concentration is on internationalization of the higher education. When we talk about higher education, it means the B-Schools of India. 

Like mentioned above, there is a hot debate on whether B-Schools should be explored in this policy. 

Government’s Intention-

According to the new policy, government’s aim is to invite around 100 foreign universities and set up the campus. This is to promote competition in higher education. This is to save around $18 billion that goes out of the country in the form of foreign exchange. 

However, looking at the Covid-19 situation, the understanding of the internationalization has completely changed.

Students for next few months will face travel restriction in different countries. Moreover, the pandemic has led to the shrinking of the world through digitalization. The use of AI, VR has brought down the distance of learning and the need of physical campuses. 

In case, these foreign universities land up in India, tier-2 and tier-3 colleges will find it hard to compete and the cost of education would shoot up. 

Challenges to be faced

Apart from the competition by Tier-2 and Tier- 3, the pay scale and incentives need to match with the global standard. Moreover, innovative solutions will be needed so that less-privilege students get chance to get education. However, if the government is keen on investing, then these challenges can be met. 

To make the best use of foreign universities and offer the education, it is worth to evaluate Indian School of Business. ISB has a great partnership with Wharton, Kellogg and the London Business School. 

Governance of institutions, greater autonomy and excellent infrastructure could be better changes for the globalization of the education management.

Taking Creative Steps

Along with education reformation, government also need to take creative steps. Collaborating with private-sector initiatives, Indian institutes can be creative. Running programmes between tech institutes and Infosys Leadership Institute or IBM Institute for Business can work best.

Undertaking join teaching appointment of two institutes can also be pursued. For example, a collaboration between Indian Institutes of Technology and management schools could be a good idea.

NEP is certainly a change maker for Indian education, especially for the higher education.

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