The Finance Minister, Arun Jaitley, on Monday highlighted the importance of Indian students in the UK economy. He said that having Indians study in the England has resulted in the subsidisation of education costs in their country.
“We already have a reality where the quantum of students coming into the UK is declining and other jurisdictions are available. The UK also is a part of the competitive market in that area,” Jaitley said on a five-day visit to the UK to attend a special reception by Queen Elizabeth II at the Bukhingham Palace for the launch of the UK-India Year of Culture.
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He referred to the major decline of students from universities over the previous years and said that the UK must realise the importance of Indian students or they would begin relying on other countries that are more welcoming.
The British High Commissioner to India had recently announced the removal of the visa cap on Indian students. The country’s visa policy had required that students should return to India after the completing their course. This lead to a drastic fall in the number of student visas issued and resulted in Indian students’ enrollment declining to half the previously registered number.
To combat the situation, the visa cap was removed and the country announced that 600 scholarships to be granted to students wishing to study abroad. The UK is also participating in a number of initiatives with the Indian government to promote skills.