Education Services Can Boost India’s Exports, Says Piyush Goyal

Goyal said India’s high-quality education system could become a major contributor to the country’s services exports, while also positioning India as a global destination for education.

Union Minister of Commerce and Industry Piyush Goyal on Friday said that education as a service holds significant potential to boost India’s export earnings and expand the global reach of Indian higher education. He made the remarks while addressing the Vice Chancellors’ Conclave on “Reimagining Internationalisation of Higher Education for Viksit Bharat 2047” in New Delhi.

The conclave, organised by the Indian Institute of Foreign Trade (IIFT) under the Ministry of Commerce, brought together academic leaders and policymakers to discuss strategies for strengthening the global engagement of Indian higher education institutions.

Education Services as a New Export Opportunity

Goyal said India’s high-quality education system could become a major contributor to the country’s services exports, while also positioning India as a global destination for education.

He noted that the conclave provided a valuable platform for Vice Chancellors and academic leaders to share ideas on internationalising higher education, expanding global partnerships and improving the global competitiveness of Indian universities.

Discussions at the event focused on international collaborations, student mobility, regulatory frameworks, and dual-degree programmes, while also examining emerging global trends in education mobility.

India’s Rising Global Economic Role

The Minister highlighted that developing economies like India are likely to become the world’s future growth engines, which makes exposure to India increasingly important for students from developed countries.

He pointed out that India’s growing economic influence is also reflected in its Free Trade Agreements (FTAs).

According to Goyal, the nine FTAs signed by the government under Prime Minister Narendra Modi have largely been with developed economies, and together they cover nearly two-thirds of global trade.

He said this reflects a major shift in India’s global engagement, noting that the country now negotiates with confidence rather than from a position of weakness.

“If India contributes around 20 percent of global growth today, the younger generations across the world will increasingly need to work with countries like India,” he said.

National Education Policy Driving Reform

The Minister also highlighted the transformative role of the National Education Policy (NEP) 2020, which he said was developed through extensive consultation with education experts and stakeholders across India and abroad.

Nearly three lakh suggestions and feedback inputs were received during the drafting process, each of which was carefully considered before finalising the policy.

Goyal said the policy has helped India aspire for international standards in education, expand educational institutions and attract students from around the world.

Global Collaboration and Dual Degrees

Under the NEP framework, India now allows international universities to establish campuses in the country, while also encouraging partnerships with Indian institutions for dual-degree programmes.

The policy also promotes cross-border student exchanges, enabling Indian students to study abroad while giving international students the opportunity to experience India’s education system.

Goyal suggested innovative models such as joint programmes where international students spend part of their academic period in India and the rest in their home institutions, which would help them understand developing economies more closely.

Vice Chancellors as Architects of the Future

Addressing the academic leaders present at the conclave, the Minister described Vice Chancellors as architects of India’s future, highlighting their critical role in shaping the next generation of leaders.

He stressed that universities must continuously update curricula and retrain educators to ensure that students are prepared for emerging global opportunities.

“Students cannot be prepared for the future through outdated curricula,” he said, urging institutions to remain agile and adapt to rapidly changing global knowledge systems.

Integrating Trade and Technology in Education

Goyal emphasised that universities must incorporate subjects related to international trade, Free Trade Agreements, and global economic frameworks into academic curricula.

He also highlighted the growing importance of advanced technologies such as artificial intelligence, quantum computing, and machine learning, which will shape the future global economy.

Preparing students in these fields will help India sustain economic growth and achieve its ambition of becoming one of the world’s top three economies.

Vision for India as a Global Education Hub

The Minister expressed confidence that as Indian institutions modernise teaching methods and improve infrastructure, more Indian students will choose to study within the country, while India will attract increasing numbers of international students.

Currently, he noted, 28 Indian students go abroad for higher education for every one international student studying in India.

Goyal expressed hope that this trend would reverse in the coming years, with India attracting around 1.3 million international students, transforming the country into a global education hub.

Collaboration Key to Viksit Bharat 2047

Concluding his address, Goyal called for stronger collaboration between academia, government and industry to realise the vision of internationalising higher education and building a knowledge-driven economy.

Vice Chancellor of IIFT, Prof. Rakesh Mohan Joshi, said the conclave created an important platform for academic leaders to explore ways to expand India’s global academic engagement.

“India has immense potential to emerge as a global destination for quality education. Through initiatives such as the Vice Chancellors’ Conclave, IIFT seeks to catalyse partnerships and dialogue that will strengthen internationalisation of Indian higher education,” he said.

The conclave was attended by several prominent academic leaders, including Prof. Prem Vrat, Prof. Santishree Dhulipudi Pandit (JNU), Prof. T. G. Sitharam (IISc), and Prof. Anil Sahasrabudhe (NAAC), along with representatives from institutions such as IIMs, Jamia Millia Islamia, Jamia Hamdard, University of Southampton, North Eastern Hill University, and Netaji Subhas University of Technology, among others.