NEW DELHI: Indian students are spending between $6-7 billion annually on foreign universities due to dearth of quality higher education institutions in the country, a survey said.
'Realigning Skilling towards Make in India' - conducted jointly by the Associated Chambers of Commerce and Industry of India and Tata Institute of Social Sciences - noted that in the absence of quality higher education and none of the Indian Institutes of Technology making it to the world's top research institutions, more and more Indian students are heading abroad.
Furthermore, only a miniscule number of them choose to return home, said the survey.
"Indians spend about $6-7 billion every year in sending their children abroad for higher education. It is not just the elite but the middle class families as well who spend their life time savings to educate their children abroad," Assocham secretary general D.S. Rawat said.
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