Enhanced educational possibilities, career advancements, and the easy access to financial support and scholarships are influencing the current pattern, according to specialists.
There's been a significant rise over time in the number of Indian students choosing to study abroad for advanced degrees. Redseer Strategy Consultants, based in Bengaluru, predict that by 2024, the tally of Indian students studying overseas will reach 1.8 million.
Recently, the government disclosed in Parliament that there has been a 68% uptick in Indian students pursuing higher education abroad over the past year—from 444,553 in 2021 to 750,365 in 2022.
This sharp rise can be attributed to various factors. A primary reason is the suppressed demand during the pandemic. As stated by Piyush Kumar, the regional director for South Asia and Mauritius at IDP Education, the number of Indian students studying overseas plummeted dramatically during the pandemic. As international borders reopened, many students who had deferred their plans are now heading overseas to continue their education.
The Indian economy is on the rebound, and education is seen as a proven route to participate in this resurgence. Bhaskar Chakravorti, dean of global business at The Fletcher School at Tufts University, elucidates that the most sought-after jobs and opportunities are competitive, as are the top academic institutions in India, which are few. A degree from a renowned international university gives graduates prestige and credentials, as well as a broader global perspective.
Furthermore, India's middle class now has more discretionary income and their perspectives have broadened through travel. In a post-pandemic world, there's a desire to explore new territories and pursue education far from home. Chakravorti added, "India is a beacon of hope in an otherwise troubled globe. The US and European Union economies are struggling and dealing with the fallout from the Ukraine conflict—all these factors fuel the desire to seize educational opportunities abroad and gain international exposure."
Numerous pupils perceive that foreign establishments present superior programmes, amenities and provisions. Jetking Infotrain's CEO and MD, Harsh Bharwani, notes that scholars can benefit from state-of-the-art technology, research prospects, and exceptional faculty. This widens the spectrum of subject matter, courses, and disciplines they can select from.
Companies frequently view applicants who have graduated from esteemed foreign institutions in a positive light. Bharwani explains that this is because these universities are known for delivering top-tier education and their alumni commonly have an array of sought-after skills that are in high demand in the employment sphere. An international degree also offers pupils the chance to familiarize themselves with diverse cultures and augment their cross-cultural communication abilities.
With the increasing number of Indian students graduating from high school each year, the country lacks enough high-quality colleges and universities to cater to them. Enticing post-study work privileges in various countries, the ease of securing educational loans, and the option of scholarships are amongst other reasons why an increasing number of Indians are choosing to study abroad. "Numerous nations are eager to welcome international students and are working diligently to eliminate the visa backlog. The US and Canada are implementing innovative strategies, employing new workforce and upgrading their services to process more visa applications," Kumar mentions.
The provision of scholarships and financial aid has simplified the process of studying abroad. Bharwani indicates that since several universities offer financial support to foreign students, this can drastically cut down the cost of fees and living expenses. In certain instances, students can obtain full scholarships. "The simplicity of travel and information accessibility has also played a part in the rise in students seeking higher education abroad," he adds.
The majority of Indian students opt to study in English-speaking nations, such as the US, UK, Australia, New Zealand, Canada and Ireland. For example, the US and UK have seen unprecedented visa issuance for Indian students in 2022. The popularity of these countries is due to the high demand for first-class universities, specialized courses, and enhanced post-study work rights.
"Australia, Canada, UK, US and New Zealand currently hold the most favourable post-study work rights. The policies have never been more accommodating in any country," Kumar states. Furthermore, Australia and Canada have removed constraints on part-time work for foreign students. Now, international students can work more hours while studying. This aids numerous foreign students in repaying their educational loans quicker and to enjoy better student life.