In 2023, an Internationally reputed Australian university, Deakin University established an International Branch Campus (IBC) in Gujarat International Finance Tee-City after receiving approval from the International Fina

CS Professional · IFSCA - Regulations, Listing and Compliances · PYQS · June 2026
In 2023, an Internationally reputed Australian university, Deakin University established an International Branch Campus (IBC) in Gujarat International Finance Tee-City after receiving approval from the International Financial Services Centres Authority under the IFSCA (Setting up and Operation of International Branch Campuses) Regulations, 2022. The campus was initially permitted to offer the following postgraduate programs: Master of Business Analytics, Master of Cyber Security, Master of Financial Technology. The University promoted the campus as a global education hub integrated with the financial services ecosystem of GIFT City. Within three years of operations, several regulatory and legal issues emerged. In 2026, the university launched a Bachelor of Arts in Sociology and Media Studies without prior approval from the International Financial Services Centres Authority. The university justified this decision by arguing that Global Universities require academic autonomy and interdisciplinary programs to enhance student learning. However, several stakeholders argued that such programs were not related to financial services, fintech, or technology, which are the primary focus of educational activities within GIFT City. The university also charged tuition fees in US dollars, arguing that International Branch Campuses operate within a Global Financial Ecosystem Some Indian students complained that currency fluctuations significantly increased the cost of their education. They filed a complaint before the International Financial Services Centres Authority claiming the fee structure was unfair. Students enrolled in the Master of Financial Technology program claimed that the curriculum taught at the GIFT City campus differed significantly from the program offered at the university's main campus in Australia. Students alleged that: fewer research modules were offered, certain advanced courses were omitted, faculty expertise was limited. The university also recruited several professors from Europe and the United States to teach specialized courses. During a compliance inspection, it was discovered that some faculty members were working on short-term business visas instead of employment visas. In view of the above scenario, answer the following questions: Discuss the concept of International Branch Campus (IBC) indicating eligibility requirement. Whether the introduction of unrelated programs violates the regulatory framework governing foreign universities in GIFT City.

Answer & Explanation:

The IFSCA (Setting up and Operation of International Branch Campuses and Offshore Education Centres) Regulations, 2022 provide a framework for foreign universities and foreign educational institutions to establish International Branch Campuses (IBCs) or Offshore Education Centres (OECs) in India's GIFT IFSC, offering globally recognized degree and research programmes in areas such as Financial Management, FinTech, and Science, Technology, Engineering and Mathematics (STEM). 'International Branch Campus' or 'IBC' shall mean a campus set up as a branch by a Foreign University on stand-alone basis, or in such other form as may be permitted by the IFSCA in the GIFT IFSC for the purpose of delivering courses including research programmes in the permissible subject areas, that are duly accredited under the relevant framework in their respective home jurisdiction, and is registered with the IFSCA. Eligibility Requirement In case the Applicant is a Foreign University, it must have secured a position within Top 500 in global overall ranking and / or subject ranking in the latest QS World Universities ranking. In the case of Foreign Educational Institution, the Applicant must be a reputed Institution in its home jurisdiction. The Applicant must satisfy the IFSCA about its financial capability to establish and ensure the continuity of the proposed activities in GIFT IFSC. The Applicant must undertake to put in place suitable infrastructure and facilities to conduct the courses, including research programmes in the permissible subject areas. Since the Courses including research programmes in Financial Management, FinTech, Science, Technology, Engineering and Mathematics are only permitted in GIFT IFSC, introducing programs unrelated to the IFSC ecosystem without prior authorization may therefore constitute regulatory non-compliance. IFSCA may require the university to seek retrospective approval, or discontinue the program if it does not align with the objectives of the IFSCA (Setting up and Operation of International Branch Campuses and Offshore Education Centres) Regulations, 2022.

Topics: IFSC Regulations

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