The IFSCA Official has released an impactful circular on December 14, 2023, paving the way for International Branch Campuses (IBCs) and Offshore Educational Centres (OECs) at GIFT IFSC to leverage advanced infrastructure services from Academic Infrastructure Service Providers (AISPs). Here's what you need to know about this game-changing move.
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Under the 2022 Regulations, globally reputed foreign universities and educational institutions can establish IBCs or OECs in GIFT IFSC, delivering top-tier academic courses in key subject areas. To enhance their operational framework, this circular introduces AISPs as facilitators of robust campus infrastructure and comprehensive support services.
What Are Academic Infrastructure Service Providers (AISPs)?
AISPs are specialized providers offering a range of services to IBCs and OECs, including:
State-of-the-art campus infrastructure.
Research and development facilities.
Modern libraries, labs, and incubation centers.
High-tech teaching classrooms.
Additional Support Services
IBCs and OECs can also benefit from:
Campus facility management for seamless daily operations.
Student welfare and onboarding with counselling, mental health support, and recreational amenities.
Staff recruitment and payroll management for operational efficiency.
Branding and marketing services for global outreach.
Eligibility and Compliance for AISPs
For AISPs to provide their services, they must:
Be incorporated as a separate entity in GIFT SEZ.
Maintain a net worth of $1 million USD or equivalent.
Have at least three years of experience in offering similar services globally.
Obligations for IBCs and OECs
Institutions availing AISP services must:
Sign a formal agreement detailing indemnity, intellectual property protection, confidentiality, and more.
Submit this agreement to the IFSCA and report any changes.
Ensure academic functions are not outsourced to AISPs, directly or indirectly.
Safeguarding Interests
To maintain trust and ensure seamless transitions, the agreement must safeguard students' welfare in case of termination or modifications.
Why GIFT IFSC?
Located in Gujarat, GIFT IFSC offers an unparalleled environment for international institutions, aligning with global standards. With this circular, it promises to become a hub of innovation and excellence in education.
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