UOW VC and Indian PM confirm licence arrangements for teaching and research in GIFT City
Licence arrangements will allow UOW to establish operations in Gift City
In a meeting between University of Wollongong (UOW) Vice-Chancellor Professor Patricia M. Davidson and the Indian Prime Minister Shri. Narendra Modi today (12 May 2023), the University officially received approval to establish a teaching location in Gujarat International Finance Tec-City (GIFT City).
The licence approval to conduct UOW courses in India adds another feather to the University’s 30 years of experience as a global university, establishing and operating highly successful campuses in Dubai, Hong Kong and Malaysia, each employing over 200 academic staff and enrolling at least 3,000 students each, in addition to its Australian campuses.
The Vice-Chancellor welcomed the approval received from the International Financial Services Centre Authority (IFSCA) in a meeting with Prime Minister Modi, IFSCA and GIFT City officials.
“We are delighted to receive the approval and plan to start our operations in GIFT City by the end of this year,” Professor Davidson said.
“I would like to thank the Australian Government, Prime Minister Modi and his government for the support and bringing our mutual vision of providing high-quality Australian teaching and learning environment that UOW is known for to India.
“In accordance with the strategic ambitions of both of our nations’ governments, the vision of UOW is to create a location for learning, research and industry collaboration that supports the mission of GIFT City, and provides an affordable Australian education within India, by a highly ranked and experienced global university.”
UOW Senior Deputy Vice-Chancellor and Vice-President (Innovation, Enterprise and External Relations) Professor Alex Frino said: “The licence approval brings us one step closer to realising our ambition for India and the people of India.
“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 has provided a unique opportunity for UOW to invest its high-quality teaching and learning capabilities into the country and produce the skilled workforce of the future.
UOW VC Professor Patricia M. Davidson with Minister for Education the Hon Jason Clare MP, and Indian Minister of Education and Minister of Skill Development and Entrepreneurship, Shri Dharmendra Pradhan on an official visit to India earlier this year to promote institutional partnerships in higher education and boost collaboration between the two countries.
UOW plans to commence at GIFT City later this year with a Graduate Certificate in Computing and a Master of Computing in the Finance domain, and then add a Master of Applied Finance and Master of Financial Technology (FinTech) in 2024. This will be followed by Bachelors of Business and Computing Science in 2025.
In addition, UOW plans to establish a Global Capital Markets Research Centre in its GIFT City location focussed on training PhD students and delivery of research with a focus on Indian capital markets. We have commenced work with the National Stock Exchange of India (NSE) and have in-principle support from the Bombay Stock Exchange (BSE) and Singapore Exchange (SGX).
Providing high-quality education is one of the key goals of the University and the GIFT City operations will ensure accessibility and affordability for students. The University will set the student fees at 50 per cent 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 us at GIFT City.
The teaching location aims to contribute to the growth and mission of GIFT City and its businesses and local community.