NEP 2020: Business schools expected to flourish

The release of the National Education Policy (NEP) has brought massive attention from different individuals. Since its release in July this year, the NEP 2020 has been a debated subject.

The announcement on the reformational changes in the education system of India was made by the Union government of the country, allowing students to adapt to a different path for career growth and stability.

However, other than the positive aspect of the policy been shared by the Union government, the debate regarding the salient features of NEP 2020 has been growing day by day. Other than the ongoing debate on the policy changes, one of the most underrated subjects related to NEP 2020 has been its execution.

Various initiatives planned under NEP 2020

Apart from the key plan of execution, the Union government has been planning to set up the National Research Foundation, Special Education Zones and the National Education Technology Forum along with collaborative work with foreign universities and campuses across India.

Foreign universities will be approached to establish their campus within the Indian boundaries. Among different approaches to make the NEP 2020 a success, internationalisation of universities and educational institution holds key importance. Moreover, it is one of the essential pathways which can make the National Education Policy a success.

Internationalisation of higher education will be opening an exceptional career stability pathway for the students of the country.

However, the implementation of the plan would not be an easy task. Some aspects and challenges of the step are mentioned in the article which indicates its management system in a broader light of higher education.

To implement the ideas of the National Education Policy, the government has been planning to invite the top 100 foreign universities to set up their centres in the country.

The economic liberalisation of India is considered as the biggest boost to the internationalisation of the higher education in India. Therefore, foreign universities will help promote competition among young professionals from across the nations.

Students often prefer opting for foreign education. However, this comes with a great cost. By bringing foreign universities within the Indian boundaries, it is estimated that the government can save up to $18 billion, which is usually spent on foreign education and exchange opportunities.

NEP 2020: Plans to bring foreign universities to India

Amidst the global pandemic, the education system and idea of foreign education have taken a 360-degree turn. This is mainly due to the restriction on foreign travel and social gathering.

Apart from the restriction on travel, several students have been facing complications to entre national boundaries of countries like the US and UK. Moreover, with the growth of digitalisation in the field of education, the need for physical networking and physical campuses has been reduced significantly.

Technologies like artificial intelligence and virtual reality are now the new normal. Therefore, considering the several hurdles posed on foreign learning and education, the internalisation of higher education in India can be boosted to a great extent.

Innovative approaches and plans are being made to bring foreign universities in India. This would, in turn, make the cost of education go up. The key idea is to bring bright students from underprivilege sectors of the country to become a part of a world-class education system, to help boost the countries growth.

NEP 2020: ISB model being contemplated by B-schools

To make the internationalisation of higher education success in India, top-notch international faculty must be approached. Pay scales, incentives and salaries will be required to match global standards.

For this, the model of the Indian School of Business (ISB) can be taken into consideration. The model attracted massive attention of non-resident Indian faculties due to the partnership with international organisations like London Business School, Wharton and Kellogg.

An environment to nurture the Indian mind with global approaches is the need of the hour. This model attracted several professors from the global top 25 teach in the Indian School of Business.

Apart from a top faculty batch, ISB also has some high profile global chief executive officers. Moreover, international firms have had benefits of working with top Indian personalities like Indra Nooyi, Sundar Pichai, Satya Nadella, etc. among others. This international and national backgrounds of universities like ISB has proven to be greatly helpful.

Apart from global links, exceptional academic streams, world-class infrastructure, etc. would also be required. Moreover, great approaches to execute the internationalisation plan is also required.

Setting up of institutions like OP Jindal University, ISB, Ashoka University, etc. made be done more often. Joint appointments allowing faculties to teach at different institutions at the same time could be helpful as well.

Moreover, a collaboration between universities teaching different disciplines can be done. A collaboration between the Indian School of Management and Indian Institute of Technology is an excellent example.

The National Education Policy can bring great success to the education sector of the country but only if it is implemented and executed properly.

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