FOREIGN UNIVERSITY CAMPUSES AT GIFT CITY

FOREIGN UNIVERSITY CAMPUSES AT GIFT CITY – GANDHINAGAR, INDIA

The Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, India, is rapidly solidifying its position as a global financial powerhouse. A pivotal element of this transformation is the establishment of international university campuses within the city. These institutions are not only elevating the standard of education in India but also fostering the nation’s intellectual capital and driving economic growth. Strategically nestled along the banks of the River Sabarmati in Gujarat, GIFT City enjoys a unique geographical advantage, benefiting from its proximity to Ahmedabad’s thriving business ecosystem and Gandhinagar’s political significance. The city’s meticulously planned infrastructure ensures efficient internal transportation, while its closeness to Ahmedabad International Airport, just 20 kilometers away, guarantees seamless global connectivity.

Further bolstering its growth, GIFT City recently expanded its ambit by acquiring an additional 3,300 acres, paving the way for enhanced development and new opportunities. This visionary expansion positions GIFT City as a beacon of innovation and progress, redefining India’s role on the global stage.

FOREIGN UNIVERSITIES AT GIFT CITY

The Indian government has taken significant steps to encourage foreign universities to establish campuses in India by offering a conducive environment within the special economic zone of GIFT City. These campuses operate under a regulatory framework designed to provide greater flexibility and fewer restrictions compared to conventional Indian universities.

Key benefits for Foreign Universities:

Ease of Fund Transfer:
Streamlined processes for Universities to move funds in and out of India, ensuring smooth financial operations.

Infrastructure Flexibility:
They do not have to follow the same rules as other Indian universities when it comes to building campuses and facilities.

Access to support services:
Universities can use service providers to help with things like building maintenance, student admissions, and staffing.

A. Permissible Institutions

1. Top-Ranked Universities: Institutions ranked within the top 500 globally in overall or subject-specific categories in the latest QS World University Rankings.
2. Reputed Institutions: Foreign educational entities recognized as prestigious within their home jurisdictions.

B. Permissible Subject Areas

Foreign universities in GIFT City can offer programs, including research initiatives, in key domains such as:

• Financial Management
• FinTech
• Science, Technology, Engineering, and Mathematics (STEM)

C. Key Regulatory Requirements

1. Foreign universities at GIFT City must deliver courses and programs that are identical to those provided by their parent institutions in their home countries. The degrees, diplomas, or certificates awarded must carry the same recognition and status as if they were conferred directly by the parent institution in its home jurisdiction.
2. The International Financial Services Centres Authority (IFSCA) retains the right to inspect campuses to ensure high standards of education and operations.
3. In the event of program discontinuation, universities must provide suitable alternatives to impacted students, which may or may not include reallocation.
4. Initial registration with GIFT IFSC is valid for five years, extendable for an additional five-years period upon renewal.
5. The IFSCA has defined Foreign Educational Institution as an “Educational institution outside India, which is not a university and is duly authorised to offer courses including research programme within and outside its home jurisdiction”.
6. All transactions undertaken by the institutions will occur in freely convertible foreign currency only, with certain transactions being permitted in INR through the Special Non-Resident Rupee Account.

D. Ecosystem for Students at Gift City:

Gujarat proudly hosts prestigious educational institutions and knowledge centers, notably the Indian Institute of Management, Ahmedabad (IIM), Indian Institute of Technology, Gandhinagar (IIT), National Forensic Sciences University, and others. MICA, NID, CEPT, Institutions in Gift City with a primary focus on Science, Technology, Engineering, and Mathematics (STEM) education surely play a pivotal role in nurturing highly skilled talent. Commitment to excellence positions such institutions as invaluable assets for GIFT City, drawing the interest of forward-thinking organisations, including foreign universities.

GIFT City’s carefully designed smart and technology-driven environment, featuring top-tier office and residential facilities, propels its rapid ascent as a global hub. The upcoming entertainment zone and recreational offerings in GIFT City, such as Central Park and Riverfront, serve as tangible indicators of its growth and development.

E. Benefits of setting up Foreign Universities in the Gift City IFSC:

Given its myriad infrastructural and regulatory advantages as an offshore location for global organisations, the GIFT IFSC is witnessing robust interest from foreign universities keen on training India’s burgeoning talent base.

1. Social Facilities – GIFT City, conceptualised and constructed as India’s first operational smart city, is equipped with all the social amenities necessary for a fulfilling life, from premium hospitals, and hotels to recreational centres and clubs.
2. Tax Benefits – GIFT City offers a 100% income tax exemption for 10 out of 15 years, while offering foreign universities the flexibility to select any 10 consecutive years. Further, no GST is applicable on services received by units in the IFSC, making it on par with global offshore destinations.
3. Cultural Activities – GIFT City enjoys a vibrant cultural ecosystem, dominated by sumptuous delicacies, beautiful garments, and exhilarating performance arts, given its closeness to Ahmedabad and Gandhinagar, the two major cities of Gujarat.
4. Employment Opportunities – Students have access to stellar internship and work opportunities, with several reputed corporates such as Amazon, Bank of America, Capgemini, Cognizant, Google, LIC, SBI, TCS, Wipro, etc., as well as Banks, Aircraft and Ship Leasing Companies, Finance Companies, FinTech Company, Insurance Companies, Stock Exchanges, and prominent AIFs, which are setting up their base office within GIFT City.

PROCESS FOR SETTING UP AN INTERNATIONAL BRANCH CAMPUS OF FOREIGN UNIVERSITY IN THE GIFT IFSC

FOREIGN UNIVERSITIES ESTABLISHED AT GIFT CITY

Deakin University, Australia

• Deakin University is known for its strong industry connections and offers programs that are designed to meet the needs of the financial services sector.
• First foreign university to receive approval from the International Financial Services Centres Authority (IFSCA) to establish an International Branch Campus (IBC) in GIFT 1 City.
• Deakin University is a pioneer in innovative teaching methods, including online learning and blended learning approaches.
• Globally recognized university with a strong reputation for research and teaching excellence.
• 197 – QS World University Rankings 2025
• 201 – 250 Times Higher Education World University Rankings 2025
• 177 – US News & World Report Best Global Universities 2024
• Website – https://www.deakin.edu.au/gift-city-campus-india

University of Wollongong, Australia

• The University of Wollongong is particularly strong in science, technology, engineering, and mathematics (STEM) fields, which are highly relevant to the financial services industry.
• Research intensive university with a strong track record of innovation and discovery.
• Committed to prepare its graduates for successful careers, and offers a range of career development services.
• Strong international partnerships, which can provide students with opportunities for global learning and exchange.
• 167 – QS World University Rankings 2025
• 201 – 250 (Times Higher Education World University Rankings 2025
• 162 – US News & World Report Best Global Universities 2024
• Website – https://www.uow.edu.au/india/

FOREIGN UNIVERSITIES PLANNING TO ESTABLISH CAMPUS AT GIFT CITY

After Australia, 2 UK Universities planning to establish campuses in Gift City

• Queen’s University Belfast and Coventry University, have filled applications to set up their respective international campuses at Gift City in Gandhinagar.
• Recently Queen’s University Belfast has got approval to set up their campus in GIFT City. This will be the third foreign university to set up a base here.

The presence of institutions like Deakin University and University of Wollongong underscores GIFT City’s potential to attract world-class education providers. This initiative not only enhances access to globally recognized programs but also fosters innovation, research, and talent development in key areas such as STEM, financial management, and FinTech.

The ecosystem of GIFT City, complemented by cultural vibrancy, tax incentives, and proximity to premier institutions like IIM Ahmedabad and IIT Gandhinagar, offers unparalleled opportunities for students, faculty, and industries alike. The integration of these foreign universities within GIFT City’s dynamic environment signifies a new era of education and economic collaboration, positioning India as a global leader in knowledge exchange and intellectual capital development.

Reference Links to prepare these documents:

Foreign Universities in Gift City: https://api.giftgujarat.in/public/downloads/ifsc/Foreign-Universities-in-GIFT-City.pdf

2 Foreign Universities Plan to Establish Campus at Gift City: https://www.thehindubusinessline.com/news/education/after-australians-two-uk-universities-plan-international-campuses-in-gujarats-gift-city/article69029369.ece

Strategic Consultancy for International University Establishment at Gift City

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