India's special economic zone is welcoming the top 500 foreign universities, exempting them from national regulations; however, many may hesitate due to financial risks. To address this, service and infrastructure providers offer franchise-style opportunities. Regulators will soon release rules for these providers and grant licences shortly.

Global Education Holdings (Gedu), managing institutions like Global Banking School, plans to operate in a 30,000 square feet space for 1,000 students. They seek partners and commit to covering initial costs, managing education delivery, and recruitment, if needed. Universities will oversee academics and quality assurance.

Ray Lloyd, Gedu's Chief Academic Officer, explained the goal is to offer affordable British education to a wider audience. Gedu shares space with Australia's University of Wollongong, which aims to offer computing courses by late 2023, followed by more programs. While courses must match their home campuses, universities have flexibility in setting tuition fees; Wollongong's fees will be 50% cheaper than its Australian campus for international students.

Dipankar Chakraborty, the University of Birmingham's Regional Director for South Asia and the Middle East, expressed that the GIFT City regulations hold strong appeal for international universities due to incentives such as fee and salary flexibility, program pricing in global currency, tax breaks, and the ability to repatriate profits. Despite the limitation on program offerings, reputable businesses in the ecosystem are expected to foster collaboration between industry and academia, promoting innovation.

While the prospect of a tax-free decade for their operations is enticing, the future beyond this period remains to be determined. Some wonder if the profitability of branch campuses, regardless of tax incentives. Additionally, questions linger about student accommodation, as construction is still in progress. Regulators suggest students might opt to live in nearby towns or that universities could partner with property developers to create housing within the city.

For some, meeting ranking requirements poses a challenge. Debra Hinds, Pro Vice-Chancellor International at Arden University, a relatively young institution, does not currently participate in rankings.

GIFT City currently spans 886 acres, with plans to expand to 3,300 acres. It houses 24 banks, including Barclays and JP Morgan, as well as investment firms, insurance companies, and aircraft leasing companies. Recent additions include Google and consultancy firm Capgemini.

Foreign universities are limited to offering programs that prepare graduates for careers in these sectors, including financial management and STEM subjects. They aim to attract students who need help to afford education abroad or have commitments that keep them in India.