Key Points
- The University of Wollongong is ready to open a world-first teaching campus in India.
- International students will be offered merit-based scholarships with highly qualified teaching faculty.
- The aim of this collaboration is to strengthen bilateral educational ties between the two partner countries.
The UOW has become just the second Australian educational institution to establish a campus in India after Deakin University opened its campus in the GIFT city of Gujarat.
In a meeting with Prime Minister Modi's representatives, the International Financial Services Centre Authority (IFSCA) and GIFT City officials, UOW Vice-Chancellor Professor Davidson applauded the approval to develop a teaching location at GIFT City.
Gujarat International Finance Tec-City (GIFT City) is a custom-created financial and futuristic city being built in Gujarat's Gandhinagar district. Its vision is to create an epicentre for Indian and global financial and IT businesses, promoting a foundation of sustainability.
In a media statement, Professor Davidson said that she welcomed the decision "with open arms".
We are delighted to receive the approval and plan to start our operations in GIFT City by the end of this year.UOW Vice-Chancellor Prof. Davidson
She said that the collaborative move would strengthen the strategic ambition of both nations.
The vision of UOW is to create a location for learning, research and industry collaboration that supports the mission of GIFT City and provides an affordable Australian education within India by a highly ranked and experienced global university.
UOW Senior Deputy Vice-Chancellor and Vice-President of Innovation, Enterprise and External Relations, Professor Alex Frino, said that the licence approval brought the institution a step closer to realising their ambition for India and the people of India.
India’s young and expanding workforce and growing demand for expertly trained talent has provided a unique opportunity for UOW to invest its high-quality teaching and learning capabilities into the country and produce the skilled workforce of the future.
“This would take the institution’s legacy forward of establishing highly successful campuses in Dubai, Hong Kong and Malaysia. These campuses employ more than 200 teaching staff and (have) 3,000 students each, in addition to Wollongong’s three Australian campuses,” he added.
UOW plans to commence at GIFT City later this year with a Graduate and Masters Certificate in Computing in the Finance domain. There are ongoing talks of adding (the) Master of Applied Finance and Master of Financial Technology (FinTech) in 2024 to be followed by (the) Bachelor of Business and Computing Science in 2025.
For highly ambitious PhD students, there are plans in place to establish a Global Capital Markets Research Centre to target Indian capital markets. This has been done with the support of the National Stock Exchange of India (NSE), Bombay Stock Exchange (BSE) and Singapore Exchange (SGX).
Professor Davidson thanked both nations’ governments for this cross-educational partnership.
“I would like to thank the Australian Government, Prime Minister Modi and his government for their support and bringing our mutual vision of providing high-quality Australian teaching and learning environment that UOW is known for to India," she said.
Providing top-quality education while ensuring accessibility and affordability for aspiring students will be a priority for the university. Hence, the tuition fees for these campuses will be half of what is presently incurred by international students studying at UOW’s Australian campuses.
UOW Vice-Chancellor, Professor Patricia M. Davidson, with Minister for Education, the Hon Jason Clare MP, and Indian Minister of Education and Minister of Skill Development and Entrepreneurship, Shri Dharmendra Pradhan, along with other officials visited India earlier this year to promote institutional partnerships in higher education and boost collaboration between the two countries.
To ensure bright minds and talented students are given an opportunity to study there, merit scholarships will be introduced for study at GIFT City.
The educational facility intends to support the development and mission of GIFT City, its enterprises, and the surrounding neighbourhoods.
On the other hand, student exchange programs and a diverse faculty in place is expected to boost the cross-cultural relationship between the two counties.
