University of Wollongong (UOW), a global university based in Australia, has received licence approval to conduct courses in India, marking its entry into the Indian education market. The International Financial Services Centre Authority (IFSCA) has approved UOW to commence operations in the Gujarat International Finance Tec-City (GIFT City) by the end of this year.
Located in the Gandhinagar district of Gujarat, India, the Gujarat International Finance Tec-City (GIFT City) is a central business district currently under construction. GIFT City is India’s first smart city and international financial services center that has been developed as a greenfield project, promoted by the Government of Gujarat.
UOW Vice-Chancellor Prof. Patricia M. Davidson welcomed the approval received during a meeting with Indian Prime Minister Narendra Modi, IFSCA and GIFT City officials. The licence approval adds to the University’s 30 years of experience as a global university, operating campuses in Dubai, Hong Kong and Malaysia, in addition to its Australian campuses.
What an amazing opportunity to meet with @narendramodi and hear first hand his vision for @GIFTCity_ and the opportunities for @UOW. We are so grateful for the support of @IFSCA_Official @dpradhanbjp @HCICanberra @JasonClareMP @AusHCIndia #education a force to change the world pic.twitter.com/n29TrB1rlm
— Patricia Davidson (@UOW_VC) May 12, 2023
UOW plans to begin with a Graduate Certificate in Computing and a Master of Computing in Finance, followed by a Master of Applied Finance and Master of Financial Technology (FinTech) in 2024. This will be followed by a Bachelor of Business and Computing Science in 2025. Furthermore, UOW plans to establish a Global Capital Markets Research Centre in its GIFT City location, with a focus on training PhD students and delivering research with a focus on Indian capital markets.
UOW Senior Deputy Vice-Chancellor and Vice-President (Innovation, Enterprise and External Relations) Prof Alex Frino expressed his excitement about the licence approval, stating, “The 21st century is truly India’s century, and we are proud to be part of its success story and its contribution to shaping a better world”. India’s young and expanding workforce and growing demand for expertly trained talent provides a unique opportunity for UOW to invest in high-quality teaching and learning capabilities in the country and produce a skilled workforce of the future.
The University of Wollongong says it is committed to providing high-quality education to its students at an affordable cost. The University will set the student fees at 50% of those incurred by international students studying at UOW’s Australian campus. This will be supplemented by merit scholarships to ensure bright and capable students can study with the University at GIFT City. The teaching location aims to contribute to the growth and mission of GIFT City and its businesses, and the local community.
UOW’s entry into the Indian education market will support the strategic ambitions of both the Australian and Indian governments to provide high-quality education to students.
The University of Wollongong said in a statement that the licence approval signifies a mutual vision of delivering an affordable Australian teaching and learning environment within India.
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