In a recent meeting between University of Wollongong (UOW) Vice-Chancellor Professor Patricia M. Davidson and the Indian Prime Minister Narendra Modi, the University officially received approval to establish a teaching location in Gujarat International Finance Tec-City (GIFT City).
The UOW Vice-Chancellor Prof. Davidson welcomed the approval received from the International Financial Services Centre Authority (IFSCA) in a meeting with Prime Minister Modi, IFSCA and GIFT City officials.
The licence approval to conduct UOW courses in India builds on its operating highly successful campuses in Dubai, Hong Kong and Malaysia.
Further, it is reported that each campus employs over 200 academic staff and enrols at least 3,000 students each.
Prof. Davidson said in a statement:
“We are delighted to receive the approval and plan to start our operations in GIFT City by the end of this year. 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.”
Prof. Frino added:
“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 plans to commence at GIFT City later this year with a Graduate Certificate in Computing and a Master of Computing in the Finance domain.
It will later add a Master of Applied Finance and Master of Financial Technology (FinTech) in 2024, which will be followed by Bachelors of Business and Computing Science in 2025.
Last year in July, A Letter of Intent (LOI) was formally signed between the UOW and GIFT City to establish a location for teaching, research and industry engagement in GIFT City within a partnership or on a stand-alone basis.
The signing ceremony was attended by New South Wales Government Minister for Enterprise, Investment and Trade the Hon. Stuart Ayres MP, UOW Executive Dean of the Faculty of Business and Law Professor Colin Picker, and UOW Global Brand Ambassador and cricketing legend Adam Gilchrist AM.
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.
Prof. Frino said:
“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. UOW adds that this fee will also be supplemented by merit scholarships to ensure bright and capable students can study with us at GIFT City.