New Delhi

Union Commerce Minister Piyush Goyal on Friday said education as a service has strong potential to boost India’s export earnings while expanding the global reach of Indian higher education institutions.

Addressing the Vice Chancellors’ Conclave on “Reimagining Internationalisation of Higher Education for Viksit Bharat 2047”, Goyal said India must leverage its education sector to attract students from across the world and strengthen its presence in the global education services market.

The conclave, organised by the Indian Institute of Foreign Trade (IIFT) under the Commerce Ministry, focused on international partnerships, student mobility, regulatory frameworks and dual-degree programmes to enhance the global competitiveness of Indian universities.

Goyal noted that countries like India, which are developing rapidly, are likely to become the future growth engines of the global economy. He said students from developed nations could benefit from gaining exposure to India’s economic and social landscape during their studies.

Referring to India’s trade engagement with the world, the minister said the country has concluded nine Free Trade Agreements (FTAs) with developed economies under the leadership of Prime Minister Narendra Modi. According to him, these agreements now cover nearly two-thirds of global trade and reflect India’s growing confidence in global negotiations.

He said reforms introduced through the National Education Policy 2020 have opened new opportunities for the internationalisation of higher education. The policy allows foreign universities to set up campuses in India, promotes dual-degree programmes and encourages cross-border student exchanges.

Goyal suggested innovative models such as programmes where foreign students spend part of their course in India and the remainder at their home institutions. Such collaborations, he said, would help students better understand developing economies and global cultural contexts.

Calling Vice Chancellors “architects of India’s future”, the minister emphasised the need for universities to modernise curricula and adopt future-oriented teaching approaches. He stressed that teachers must continually retrain themselves to stay aligned with evolving knowledge and industry demands.

He also highlighted the importance of emerging technologies such as artificial intelligence, quantum computing and machine learning in shaping future education and economic growth.

Goyal urged institutions to include subjects like international trade and India’s FTAs in academic programmes so that students are better equipped to participate in the global economy.

Expressing optimism about India’s education sector, the minister said he hopes the current ratio — where around 28 Indian students go abroad for every one international student coming to India — will eventually reverse. He added that India should aim to attract nearly 1.3 million foreign students in the coming years.

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He concluded by calling for stronger collaboration between academia, government and industry to help transform India into a global education hub by 2047.