Indian students who want to go abroad for higher studies should instead consider new, improved universities that have been set up in the country, Zerodha co-founder Nikhil Kamath said on Wednesday, saying this should be done because interest rates are on the rise in the West, and due to the ongoing mass layoffs in the tech sector.
“With rising interest rates in the west & mass firing in high-paid tech jobs, one must reconsider the new universities set up in India, which have improved tremendously. It’s one thing to go abroad to study and network, another to be saddled with crazy debt for life at 7-8%,” tweeted Kamath.
In the tweet, he shared an infographic curated by InvestyWise, which showed that from 2018 to 2022, the number of Indian students who migrated to a foreign country for higher education grew by nearly 45% (44.87%). According to InvestyWise, which cited government data, around 7.5 lakh Indian students went to a foreign country for higher studies, an increase of around 70% (68.79%) from the corresponding figure for 2021.
It is to be noted here that the numbers grew despite the Covid-19 pandemic, due to which travel restrictions were imposed across the globe.
Meanwhile, as per InvestyWise, the United States emerged as the most popular destination (190, 512)among Indian students in 2022, followed by its northern neighbour, Canada (185,955). The United Kingdom and Australia, too, emerged as popular destinations.