Business EconomyPosted at: Mar 6 2026 5:34PM


Education as service has significant potential to contribute to India's export earnings: Piyush Goyal

New Delhi, Mar 6 (UNI) Commerce Minister Piyush Goyal on Friday said that education as a service has significant potential to contribute to India's export earnings and help them take high quality Indian education to the rest of the world.
Addressing the Vice Chancellor's conclave on 'Reimagining Internationalisation of Higher Education for Viksit Bharat 2047' here, Goyal said that he would like to engage with Vice Chancellors and hear their ideas and thoughts on the future of higher education in India.
"The future growth engines of the world are likely to be countries that are less developed or developing, such as India. Therefore, exposure to India would help students from developed countries in their future careers," said Goyal.
Minister Goyal sees growing recognition of this trend while negotiating service chapters in Free Trade Agreements (FTAs).
"Nearly two-thirds of global trade is now covered by India's FTAs because the country has engaged with more developed and evolved economies," the minister noted.
"If India is currently contributing around 20 per cent of global growth and has emerged as an engine of growth, then in the future the younger generations across the world will increasingly need to work with countries such as India."
The Minister said that India's National Education Policy (NEP) 2020 was the result of extensive nationwide consultations and reflects the government's vision to align the country's education system with global standards.
Addressing a gathering of Vice Chancellors, the minister said the policy was drafted after wide-ranging discussions with educationists, experts, and stakeholders from India and abroad under the leadership of Prime Minister Narendra Modi. Nearly three lakh suggestions and feedback were received during the consultation process, each of which was carefully examined before the policy was finalised.
Goyal noted that the policy emerged after years of deliberation and reflects the Prime Minister's consultative style of functioning.
He said the reforms have opened India's education system to global opportunities by encouraging international campuses to set up in the country and enabling collaborations between foreign and Indian universities for dual-degree programmes.
The policy also promotes cross-border student exchanges so that Indian students can gain exposure to education systems abroad while international students can experience India's academic environment.
Highlighting the need to attract more foreign students, the minister suggested flexible programme models such as students spending part of their academic tenure in India and the remainder in their home institutions.
According to him, such arrangements would help students from developed nations understand the social, cultural and economic dynamics of developing countries like India.
Describing Vice Chancellors as "architects of India's future", Goyal said higher education leaders play a vital role in shaping the next generation.
He stressed that universities must continuously update their curricula and teaching methods to remain aligned with emerging global trends. Teachers, he added, should also undergo retraining and relearning to stay updated with future-oriented knowledge.
The minister emphasised that outdated curricula cannot prepare students for future challenges. Institutions must remain agile and focus on areas such as artificial intelligence, quantum computing and machine learning, which will drive India's growth as a global technology powerhouse.
Goyal also called for the inclusion of subjects like international trade and India's Free Trade Agreements in academic curricula so that students better understand opportunities in the global economy. He expressed confidence that knowledge of international law and trade rules would help young Indians contribute to the vision of Viksit Bharat during the Amrit Kaal.
He said that with improved teaching standards and modern facilities, India can reverse the current trend where around 28 Indian students go abroad for every one foreign student coming to India. The country, he said, has the potential to attract nearly 1.3 million international students in the coming years.
The minister concluded by urging stronger collaboration between academia, government and industry to internationalise higher education and transform India into a global education hub by 2047.
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