U.S. President Barack Obama's visit to India could also open the gates for many American universities to set base in the subcontinent.
Many U.S. university officials are accompanying the President and hope to get permission to set up bases in India, which is expected to have one of the largest student populations in the next decade.
Representatives from Boston University, Arizona State University and Rutgers University are part of the delegation with the President.
The Indian government passed a "foreign university bill" in March 2010, allowing overseas universities to set up campuses in India. Though foreign direct investment was allowed in the education sector since 2000, these universities were not allowed to grant degrees in India.
India, the second most populous country in the world, has a severe shortage of quality education institutions. Several students go abroad for higher education due to the lack of facilities in the country.
Indian institutes like the IIMs and IITs are the top notch schools in the country but have limited seats. The entry of foreign universities is expected to ease this crunch a little bit.
India needs about 600 universities and 35,000 more colleges over the 12 years to enroll even 30 percent of its potential students, Bloomberg said, citing Human Resource Development Minister Kapil Sibal.
Though India will not immediately attract the top schools from the U.S., quality institutes are expected to be drawn to the huge population and revenue models. Boston University is ranked 56 and Rutgers University is ranked 64 on the on the National Universities Ranking on U.S. News.
Additionally, several for-profit institutions like Apollo Group and DeVry Inc are also eyeing the Indian markets.
Apollo Global, a joint venture between Apollo Group and private equity group Carlyle, and DeVry were exploring acquisitions in India's higher education sector, said a report by Reuters in June this year.
The two companies were not immediately available for a comment.
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