Thursday, November 28, 2013

Hero Group to set up university in Gurgaon

Hero Group, the Munjal family owned conglomerate that has business interests ranging from automobiles to financial services, said it will open a university in Gurgaon to create “balanced leaders”.

“For us it (education) is not a business,” said Sunil Kant Munjal, Chairman of Hero Corporate Services and joint Managing Director of Hero MotoCorp Ltd. The investment would be philanthropic, he said.

Named after the Hero Group co-founder and chairman Brijmohan Lall Munjal, the university aspires to nurture ethical leaders who are skilled, knowledgeable and have the life skills required for leading their organizations to success, the group said in its statement following a press conference in Delhi.

Munjal said that the focus of the university would be to offer “practical-oriented education and to foster employability”. Though he declined to give details of the investment, people close to the project said, on condition of anonymity, that the initial investment would be around Rs. 400 crore (Rs. 4 billion) excluding the cost of land. This initiative by the Munjal family would be led by Akshay Munjal, Executive Director, BML Educorp Services.

Enayet Kabir, education practice leader at consulting company Technopak Advisors Pvt. Ltd., said many corporate houses are entering the education sector as they believe this is a sector that can grow for years. Besides, it has social benefits.

The Munjal family has already roped in Imperial College London for mentoring the new university that will start functioning from the 2014 academic session. Imperial College, one of the top ranked institutes in the world, had played a key role in establishing IIT-Delhi during its formative years. To start with, the new university will offer three programmes: Bachelor in Technology, bachelor in business administration (BBA) and masters in business administration (MBA).

The Imperial College will co-design the curriculum, facilitate student and faculty exchange programmes, conduct joint research activities and establish digital learning platforms. There will also be opportunities for students to join innovation camps and credit-based courses in London. In addition to this, some B.Tech. students will have the opportunity to undertake a one-year MSc programme at the Imperial College Business School.

Sunil Kant Munjal said Hero MotoCorp will source human resources from its new university. “Not drawing manpower will not be a smart thing.” He, however, said though they are now entering the higher education space, Hero MotoCorp’s investment in ISB Mohali campus will not be affected. “ISB (Indian school of Business) is a fantastic school and our association will continue,” he said. Akshay Munjal, said that they would keep the student fee at Rs. 200,000 per year for the B.Tech. course and Rs. 300,000 per year for MBA. “This fee is inclusive of hostel and other facilities,” he said.

Source: Mint, November 28, 2013

Friday, November 22, 2013

Government may relax salary norm for foreign faculty visa

India may consider relaxing the minimum salary threshold for issuing work visas to foreigners willing to work in Union government-funded higher education institutes, according to two government officials aware of the plan. The Ministry of Human Resource Development (MHRD) expects this will help its institutions get foreign professors at lower salaries and has written to the Ministry of Home Affairs (MHA) urging the visa relaxation.

It has begun discussions on this matter, with the next round of deliberations with the MHA scheduled for Friday, the officials said, both of them declining to be identified. “It’s a requirement for the growth of our top central government-funded technical institutes (CFTIs),” one of the officials said.

“The MHA listened favourably to the MHRD’s point during the previous meeting. And in the Friday meeting, we believe it will make further progress,” the second official said. According to the home ministry’s guidelines, foreigners seeking work visas need to be drawing a minimum salary of US$ 25,000 a year (Rs. 1.57 million at the current exchange rate).

The MHRD is hoping to get foreign teachers to fill up vacancies in the Indian Institutes of Technology (IITs), Indian Institutes of Management (IIMs), Indian Institutes of Information Technology (IIITs) and other elite schools. These institutions have been facing a 20-40% shortage of teachers for years. India has 16 IITs, 13 IIMs, five IIITs and 30 National Institutes of Technology (NITs).

“As central-funded institutions, it won’t be possible for the MHRD to pay more than what is prescribed for all, hence this revision request (to lower the minimum salary threshold),” the first government official mentioned earlier said. “For example, an assistant professor in an IIT gets around Rs. 1 million per annum and that’s what we are looking at. If we give more than Rs. 1 million to a new assistant professor from a foreign country, it will create problems in campuses.” The official said while the higher education department understands the logic behind the minimum salary requirement of the MHA for issuing visas, the MHRD’s request has merit.

“The home ministry does not want lot of inward migrants to come and work in India and take jobs of Indians—importantly, only high-skilled people should be allowed. Our case fits well here, we don’t have enough quality faculty members available and those who will come will be high-skilled,” he said.

“The MHRD has explained that they are not asking for a blanket reduction in minimum salary requirement for all foreigners, but for those coming to teach as faculty members in CFTIs. The old regulation can continue to remain for others and even for private education providers, who can afford more salary,” the official added.

Getting foreign teachers will also help Indian institutes get better rankings in global listings of top universities as internationalization of a campus is key to good rankings, the official said. No Indian institution features among the top 200 universities in global rankings, a prickly issue with the MHRD.

The ministry also believes it is no longer difficult to get foreign teachers at salaries on a par with their Indian peers and that the US$ 25,000 threshold is a hindrance. “Our top institutes can draw a good number of foreign teachers on an Indian salary, as the cost of living here is cheaper. Allied benefits like housing facility in campuses and possibility to bag sponsored research work is good,” said the second official.

The move could change the way top campuses in India function, said Enayet Kabir, Associate Vice-President (Education Practice) at consulting firm Technopak Advisors. “It’s a misconception that we cannot get foreign faculty on Indian salaries. We can get lot of teachers from European countries if not many from the US, and relaxing the salary threshold will do good to our education sector,” he said. “The slowdown in Europe and digital interventions like massive online open courses are a problem for teachers there, and India can cash in here.”

“It will also create competition among teachers to improve research and not live with complacency once in a job. The teaching space could be market-driven in the future,” Kabir added.

Source: Mint, November 22, 2013

Blog Archive