The Deakin University, which is a premier University in Australia, has become the 1st foreign university to receive approval of the International Financial Services Centres Authority (IFSCA) to set up an International Branch Campus (IBC) in GIFT-IFSC, GIFT City, Gujarat.
Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman in the Union Budget 2022-23 announced that “World Class Foreign Universities and Institutions will be allowed in the GIFT City to offer courses in Financial Management, FinTech, Science, Technology, Engineering and Mathematics, free from domestic regulations, except those by the IFSCA to facilitate availability of high-end human resources for financial services and technology”.
The IFSCA has granted in-principle approval to Deakin University based on the recommendation of the Committee of Experts set up by the GIFT City Company Limited. By virtue of this approval, Deakin University will be able to offer the same degree courses it offers in Australia in the areas of Science, Technology, Engineering, Mathematics and Financial Management in GIFT IFSC to both Indian and foreign students. The degree offered shall be identical or similar to that offered in the home jurisdiction.