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<keyword id="22362521" type="General" weightage="20" keywordseo="tourists-travellers" source="keywords">Tourists Travellers</keyword> from India have taken to <keyword id="20166206" type="General" weightage="20" keywordseo="international-travel" source="keywords">international travel</keyword> with newfound enthusiasm over the past two years, a new report by ride-hailing platform <keyword id="19895382" type="General" weightage="20" keywordseo="Uber" source="keywords" meta.keywordsubtype="org" meta.entityname="Uber" meta.hostid="261" meta.entityid="Uber">Uber</keyword> revealed on Wednesday. Indians travelled close to 1,000 cities across 68 countries significantly broadening their horizons, the report revealed. Their top destinations, however, remained consistent in the United States, the United Kingdom, and Canada. As per the report the <keyword id="22362520" type="General" weightage="20" keywordseo="summer-holiday-period" source="keywords">summer holiday period</keyword> when schools and colleges break, emerged as the prime time for these adventures for Indians. Interestingly, it said May 2023 outpaced June 2022 as the most popular month for <keyword id="21753645" type="General" weightage="20" keywordseo="overseas-travel" source="keywords">overseas travel</keyword>, indicating a shift in vacation timing. While abroad, Indians traveled longer distances, averaging 25 per cent more distance than their trips back home. Their Uber journeys spanned 21 different products, from premium electric vehicles like Comfort Electric to multimodal transit options that integrate trains and other mass transit modes, along with the ubiquitous UberX. The report underscores a significant uptick in the number of Indians using Uber internationally, with 2023 seeing Indian travellers ranking second only to Americans in terms of app usage abroad. During the ongoing summer travel season, Indians are expected to cross records set in the previous years, the report predicted. Moreover, many countries frequented by Indians support peer-to-peer ridesharing, allowing individuals to use their personal vehicles for Uber rides. This not only highlights the global appeal of the <keyword id="19913761" type="General" weightage="20" keywordseo="gig-economy" source="keywords">gig economy</keyword> but also showcases the country's adaptability and enthusiasm for diverse transportation options, the report noted. Commenting on the trend, Prabhjeet Singh, President, Uber India and <keyword id="19897710" type="General" weightage="20" keywordseo="south-asia" source="keywords">South Asia</keyword>, said, "Indians have been breaking all travel records over the past couple of years, and it's heartwarming to see how Uber continues to be their trusted last-mile partner in these travels. Be it the familiarity when landing at an airport in a new city or the safety when riding late at night, it's a huge mark of trust for us to see Indians book an Uber for their overseas travels."

Indians are travelling abroad like never before: Uber study

<ul><li>73% of individuals want to engage in the local cultural experience when travelling abroad </li><li>43% of respondents express that they would look at destinations actively promoting sustainable initiatives. </li><li>Relaxation remains the prime motivation for upcoming trips for 51% travellers. </li></ul><keyword id="6387037" type="General" weightage="20" keywordseo="credit-cards" source="Orion">Credit cards</keyword> remain the first choice when it comes to <keyword id="31669" type="General" weightage="20" keywordseo="spending" source="Orion">spending</keyword> when travelling abroad. Several incentives such as travel miles, cashback benefits, rewarding schemes, wide acceptance, favourable foreign <keyword id="124577" type="General" weightage="20" keywordseo="exchange-rates" source="Orion">exchange rates</keyword>, and generous spending limits continue to serve as catalysts behind the increasing usage of credit cards when on <keyword id="147956" type="General" weightage="20" keywordseo="foreign-travel" source="Orion">foreign travel</keyword>. A survey by <keyword id="6359421" type="General" weightage="20" keywordseo="visa" source="Orion">Visa</keyword> has revealed that 95% of travellers rely on credit cards specifically while journeying abroad, aiming to enhance and streamline their overall travel experience. Furthermore, 99% of travellers, surveyed in the, ‘Global Travel Intentions Study’ by Visa, prioritise the utilisation of cards—whether credit, debit, or prepaid—during their international trips, highlighting the preference for the convenience and security offered by card-based transactions in a global travel context. From October 1, new TCS rules have come into effect, where overseas tour packages 5% TCS for spending up to ₹7 lakh and 20% when this threshold is crossed. However, international credit cards are out of the ambit of TCS for now. The study also throws light on other travel trends… Sustainable travel is in 43% of respondents express that destinations actively promoting sustainable initiatives would get a preference when looking for a travel destination. Also, infrastructure holds significant importance for 65% of individuals. Feeling the local vibes 73% of individuals eagerly anticipate engaging in local cultural experiences, highlighting a growing interest in authentic cultural immersion during travel experiences. When choosing a destination, the social environment emerges as a top priority for 75% of respondents, including favourable environmental practices and safety measures. Hotels still the top choice of accommodation Accommodation preferences among travellers vary. 86% prefer hotels for lodging, while 30% lean towards bed and breakfast setups, and 24% opt for hostels, showcasing a diverse range of choices among travellers based on their preferences and travel objectives. The selection of a travel destination largely hinges on the availability of leisure activities, as observed in the preferences of 70% of travellers. Travel, a way to unwind Relaxation remains the prime motivation for upcoming trips for 51% travellers. Diverse entertainment options (35%), exciting shopping opportunities (27%), and indulgence in local cuisine and dining experiences (26%), are the other key drivers when choosing a travel destination.

Nine in ten Indians prefer to use credit cards when travelling abroad

<ul><li>On an average, a loan could get extended by around ₹3.5-5 lakhs depending on the rupee exchange value at the time of the loan, said Ashwini Kumar, VP at MPower Financing.</li><li>Apart from tuition cost, Indians students also have to support themselves abroad and living expenses are going up as well.</li><li>The third part of the triple whammy is from rising interest rates. </li></ul>19-year-old Sakshi Shewale from Mumbai has been planning to go to Georgia in Europe for her medical course. The course costs around ₹30 lakh for the five-year course and unlike many others, her father is bankrolling it, without her having to take a loan. Yet, in the last few months a lot has changed. Europe is in the throes of a possible recession, the value of Indian rupee is depreciating and more importantly, inflation in the continent is also impacting budgeted expenses. “Looks like I might have to take a loan after all because my living expenses will change drastically. I have spoken to students who live there and they all tell the same story,” Shewale sighs. Her story is similar to a number of Indian <keyword id="15304331" type="General" weightage="20" keywordseo="students-wanting-to-study-abroad" source="Orion">students wanting to study abroad</keyword> but those who have already taken admission this year have it worse – on rupee depreciation alone. Since the beginning of 2022, the rupee has fallen more than 7% against the dollar. <div type="image" title="rupee" height="900" width="1200" msid="94974075" hostid="261" sizebytes="49035"></div> ‘Loans could balloon by ₹3.5-5 lakh’ If a student had taken a loan in March this year, when rupee was at 75 against the dollar, it would add a few lakh into the loan, as per Ashwini Kumar, VP at MPower Financing, a public benefit corporation that helps students to study abroad. For every dollar of the loan, an extra ₹7 is added and it would inflate the loan and the interest as well. “On an average, a loan could get extended by around ₹3.5-5 lakh depending on the rupee exchange value at the time of the loan,” Kumar told Business Insider India. The problems don’t end there. Apart from tuition costs, Indian students also have to support themselves there and living expenses are going up as well. The Eurozone inflation is being <a href="https://www.euronews.com/next/2022/09/30/record-inflation-which-country-in-europe-has-been-worst-hit-and-how-do-they-compare">pegged at 10%, as per estimates</a>. Inflation in the US too has recently <a href="https://economictimes.indiatimes.com/news/international/us/us-inflation-soars-to-8-2-per-cent-highest-in-40-years/articleshow/94842348.cms">hit a 40-year high</a>, messing with economics of students abroad. Most Indian students head to these destinations. The third part of the triple whammy is from rising interest rates. This financial year, the Indian central bank raised repo rates four times and the base rates now stand at 5.9%. More interest rate hikes are expected in the near term and most experts see base rates stabilising once it’s around 6-6.5%. “Loans linked to MCLR and BPLR will see a gradual increase in the interest rate in the near future. The EMIs of current and future borrowers will rise due to this,” said Ankit Mehra, CEO and co-founder of GyanDhan, an education loan market place. Moreover, the psychological impact of a possible depreciation in rupee will also largely play on the minds of US and Europe-bound students and their parents, said Kumar. Students still eye foreign degrees Studying abroad is going to become much more expensive. However, experts say that this is not discouraging students from pursuing their higher education dreams. Shewale too intends to absorb the extra costs but does not intend to change her plans. “The return on investment in terms of quality of education, career growth, international exposure, skills developed, and networking has more intrinsic worth,” said Mehra. Kumar too says that students who are planning to go abroad this year and the next, have been planning it two years before, and it’s unlikely that the road bumps will change their plans, though some may choose to delay it. “There are a few sections of society wherein parents are managing the EMIs on the border, which is due to get affected. A student who had to arrange ₹25 lakh for their overseas education prior to the rate hike will find it difficult to arrange for additional funds given the parental income has not increased proportionally to the hike in the interest rates,” said Mehra. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/maggi-maker-nestl-indias-net-profit-grows-8-3-to-668-crore-in-q2/articleshow/94960866.cms">Maggi maker Nestlé India’s net profit grows 8.3% to ₹668 crore in Q2</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/ultratech-cements-profit-tumbles-42-yoy-to-756-crore-due-to-higher-power-raw-material-costs/articleshow/94964556.cms">UltraTech Cement’s profit tumbles 42% YoY to ₹756 crore due to higher power, raw material costs</a>

Indian students going abroad to face a triple whammy of inflation, forex and interest rates

<div type="image" title="Companies are embracing the unbossing trend" msid="113256383" hostid="261" sizebytes="1440779"></div> If there’s one thing both a productive team member and an underperformer hates in the corporate world, it’s being micromanaged. Now, imagine a workplace where the boss isn’t calling all the shots. Instead, everyone has a voice, and innovation flows freely. The recent corporate trend of "Unbossing" promises to do just that, empowering employees by eliminating the heavy hands of hierarchy. Sounds too good to be true? Well, globally, not just the new-age start-ups, but dozens of major corporations have embraced this trend and trimmed their middle management. <h2>Managers managing managers — no more!</h2>In January last year, <keyword id="399907" type="General" weightage="20" keywordseo="META" source="Orion">Meta</keyword> CEO Mark Zuckerberg made headlines for declaring 2023 as the “year of efficiency” and saying that he doesn’t want a management structure that's just “managers managing managers”. <div type="image" title="Meta CEO Mark Zuckerberg" agency="ANI" msid="113256403" hostid="261"></div> The same month, it was also reported by Command Line that Meta's chief product officer Chris Cox, had shared a post on the company's communication platform, Workplace, highlighting the necessity to "flatten" the organisation's structure. What followed was reports of Meta slashing middle management roles. Gradually, other companies like Shopify, Bayer, and Cisco began making headlines for showing the exit door to some of their middle managers. Loosely, unbossing is essentially cutting down the middle management roles. It cuts significant costs for the company and the new-age workforce also endorses the trend as efficient in enabling faster decision-making and innovation. However, critics argue this trend also limits the extent of mentorship that the younger generation receives while entering the workforce, which often remains an intangible value if your boss turns out to be a good mentor. Therefore, for some, it’s not about firing the middle management, but just another leadership philosophy on how leaders (and ‘bosses’) should conduct themselves. This approach advocates bosses working along with the team as a part rather than shouting instructions from the top. Whatever one’s understanding, this trend of “Unbossing” appears to be taking corporate America by storm in 2023, as evidenced by hundreds of media reports highlighting the same. Overall, most agree that the trend is restructuring organisational hierarchy to enable direct communication between employees and leaders. Cut to 2024, this trend is still prevalent and making headlines. A Bloomberg report recently said that Georges Elhedery, the incoming CEO of HSBC Holdings, might also consider plans to streamline the company's operations by reducing layers of middle management. But what’s the scenario in India? Are Indian companies ready to ditch the old-school approach and adopt this new way of working? Let’s dive in and see what the experts have to say! <h2>Layoffs to impact senior professionals: Naukri.com survey</h2>A survey by job portal Naukri.com early last year had suggested that recruiters in India expect a decline in layoffs during the first half of 2023. The survey, which included responses from 1,400 recruiters and consultants across ten industries, revealed that only 4 percent of participants anticipated layoffs to be the main focus of hiring activities within their organisations. However, the survey also highlighted that information technology roles and senior professionals were likely to be the most affected by hiring adjustments. About 20 percent of recruiters predicted that layoffs would predominantly impact senior professionals, while freshers are expected to face the least disruption from these hiring corrections. Interestingly the survey came around the same time when the Unbossing trend had begun picking up pace abroad. <h2>Layoffs at Wipro, <keyword id="18635" type="General" weightage="20" keywordseo="amazon" source="Orion">Amazon</keyword> and Collegedunia</h2>In January this year, Wipro India was in the limelight for laying off hundreds of its mid-level executives. The company reportedly culled many jobs as part of its strategy to improve margins. An ET report citing two sources familiar with the situation had said that the leading Indian IT firm reduced mid-level roles at its onsite locations. "Notices began being issued earlier this month, and hundreds of mid-level executives onsite are being let go," one source revealed. Another source added, "They have costly resources onsite in Capco, and although growth is returning, it's not sufficient. Aparna Iyer, Wipro's chief financial officer, has been tasked with delivering better margins this quarter." <div type="image" title="Amazon decided to lay-off middle managers in May" msid="113256170" hostid="261"></div>Then in May, Amazon also decided to reduce layers of middle management within its customer service divisions as part of an organisational restructuring, a Fortune report had said. The cuts impacted over 100 customer service managers in Level 5 and Level 6 middle management roles, both in call centres and virtual positions, primarily based in the U.S. and India. Not just large tech companies, startups too seem to be adapting the <keyword id="23125775" type="General" weightage="100" keywordseo="unbossing-trend-in-India" source="Orion">unbossing trend in India</keyword>. Last month, educational portal Collegedunia confirmed that around 100 employees from its Study Abroad department had been given the pink slip. A report in CNBC-TV18 had said that additional job cuts were happening across other departments as part of a broader reorganisation. The restructuring, as per the report, was aimed at automating many tasks to reduce costs. Interestingly, despite the layoffs, Collegedunia had posted 13 job openings on LinkedIn for various roles in different locations, primarily entry-level positions requiring up to two years of experience. "While Collegedunia is laying off several employees, it is also hiring fresh talent, allowing them to keep staffing levels up but at a lower cost," one employee told CNBC-TV18 at the time. Another source confirmed that while Collegedunia had been actively recruiting for some months, it has also been letting go of employees, including senior staff members with 7-8 years of experience at the company. <h2>What do experts say?</h2> <div type="image" title="Experts&amp;#39; opinion on unbossing trend" msid="113256250" hostid="261"></div>Mr. Sumit Kumar, Chief Strategy Officer at TeamLease Degree Apprenticeship, told Business Insider India, “From the perspective of HR leaders and CEOs, the strategic culling of middle management is viewed as a means to streamline operations, reduce overhead, and foster a culture of autonomy and innovation.” He also noted that even though employees can “exercise greater ownership and agility in decision-making” through this approach, there are also significant downsides. “The erosion of middle management creates a vacuum in leadership development, mentorship, and the retention of institutional knowledge, potentially leading to disengagement, a weakened talent pipeline, and misalignment with organisational objectives,” Kumar noted. Talking specifically about the Indian scenario, he said, “Implementing this trend in India would be a strategic move, positioning organisations to remain competitive in a rapidly evolving business environment. However, to fully capitalise on this approach, developing a more robust talent pipeline that integrates the ability to multitask at all levels is imperative. In today's landscape, leadership demands thinkers, strategic visionaries, and individuals who can execute with precision. We need to cultivate a new breed of leaders who are both thinkers and doers, capable of navigating complex challenges while driving innovation and growth. By building versatile, agile leaders through targeted talent development programs, Indian organisations can ensure they are well-prepared to thrive in a decentralised, high-performance environment.” RP Yadav, Chairman and Managing Director of Genius Consultants Limited, told ET recently that the Unbossing approach simplifies hierarchies and encourages open communication between frontline employees and senior management. He had added that the concept of “the oldest in the room is always the wisest of all” is no longer applicable. Meanwhile, Aditya Narayan Mishra, MD and CEO of CIEL HR Services told ET that the unbossing trend is predominantly seen in tech companies, creative roles, and startups, where swift decision-making and the unrestricted exchange of ideas are crucial. For example, the tech sector often thrives with flattened hierarchies that support rapid innovation and agility, while creative industries such as advertising and media use unbossing to cultivate a more collaborative and idea-focused environment. Thus, the unbossing trend is gaining traction beyond global companies and is finding its way into Indian organisations as well. While this approach can streamline operations, reduce costs, and enhance agility, experts caution that it also brings challenges, such as gaps in leadership development and the loss of institutional knowledge. To fully harness the benefits of unbossing, Indian companies must focus on cultivating agile leaders who can navigate complex challenges and drive growth. By building a strong talent pipeline and fostering a culture of innovation and collaboration, Indian organisations can position themselves to thrive in a more decentralised and dynamic business environment. Do you have insights or personal experience to s hare on layoffs, <keyword id="34447" type="General" weightage="20" keywordseo="workplace-trends" source="Orion">workplace trends</keyword>, or career changes? Contact us at businessinsider@timesinternet.in.

SIMPLY PUT: What’s with all “Unbossing” talks? Are Indian companies also embracing this global trend?

These are the top study abroad destinations among Indian students

<ul><li>The cost for studying in the US has gone up by Rs 1.5 to 2 lakh per year.</li><li>Indian students abroad are also facing problems in finding accommodation. </li><li><keyword id="87" type="General" weightage="80" keywordseo="germany" source="Orion">Germany</keyword>, Spain, France, <keyword id="6359079" type="General" weightage="20" keywordseo="portugal" source="Orion">Portugal</keyword> and the UAE have emerged as the preferential places to <keyword id="68134" type="General" weightage="20" keywordseo="study-abroad" source="Orion">study abroad</keyword>.</li></ul> Studying abroad has become costlier amid a sharp fall in rupee. The cost for studying in the US has gone up by Rs 1.5 to 2 lakh per year. The increase in tuition fees in the US, the UK and <keyword id="6355478" type="General" weightage="80" keywordseo="australia" source="Orion">Australia</keyword> by 10 to 20 per cent is another reason behind the costlier education abroad. Also, the airfares have increased in recent times, which has added burden on students studying abroad. Adding to the woes, the visas of lakhs of Indian students have not been approved in countries like the US, the UK, <keyword id="6356687" type="General" weightage="50" keywordseo="canada" source="Orion">Canada</keyword> and Australia. There are long delays in getting student visas while at the same time those students, whose visas have been approved, are facing inflation due to rupee depreciation. Indian students abroad are also facing problems in finding accommodation due to the increase in the prices of hostels and homestays. Germany seems to be reaping the benefits due to this delay in the approval of student visas by other countries. According to a recent report by the <keyword id="432632" type="General" weightage="50" keywordseo="german-academic-exchange-service" source="Orion">German Academic Exchange Service</keyword> (DAAD), the number of Indian students studying in Germany increased from 17,570 in 2017 to 34,134 in 2021. Actually, education is subsidised by the German government. All international students studying in state-funded universities in Germany do not have to pay tuition fees. This is one of the biggest benefits for the international students in Germany and a major relief for Indian students amid the costlier education in other popular countries. Although various courses are available at low cost to Indian students in countries like Germany, the students do not change their preferences easily. <keyword id="2733148" type="General" weightage="80" keywordseo="sumeet-jain" source="Orion">Sumeet Jain</keyword>, co-founder, <keyword id="4136682" type="General" weightage="80" keywordseo="yocket" source="Orion">Yocket</keyword>, a community-based platform for overseas studies, said, "Due to the rupee depreciation, the average additional cost to study in the US has gone up by Rs 1.5 to 2 lakh per year. Despite this, the students do not make decisions without comprehensively evaluating various aspects. Some students, who want to pursue post research, for them there is no point in moving to other countries. While many students keep their options open. Students prefer the US for <keyword id="435553" type="General" weightage="80" keywordseo="stem" source="Orion">STEM</keyword> courses while for non-STEM courses they opt for the UK and Australia. Experts believe that the continued delays in visas have jeopardised the competitiveness of popular places of study. While earlier countries like the US, the UK, Australia and Canada were the first choice of the students, now Germany, Spain, France, Portugal and the UAE have emerged as the preferential places to study abroad. Significantly, the Covid-19 pandemic has proved to be a major obstacle for students who wish to pursue higher education abroad. In the US and some European countries, students are getting a waiting period of one to two years for visas. This simply means that an Indian student enrolling in a US university will be able to get a US visa after one or two years. According to industry experts, the number of Indian students moving to countries such as the US, the UK, Canada, Australia, Ireland and New Zealand stood at around 10 lakh in early 2022, almost double the levels before the pandemic. Similarly, the number of visa applications has increased much more than before, due to which now there is a delay in the visa approval. S. Ghosh, a student from Kolkata, said it is taking around 440 days to get a visa. SEE ALSO:

Falling rupee makes studying abroad costlier

<ul><li>The United States, <keyword id="6361754" type="LOCATION" weightage="20" keywordseo="united-kingdom">United Kingdom</keyword> and Canada are among popular choices among most <keyword id="43976" type="PERSON" weightage="20" keywordseo="Indian-students">Indian students</keyword>.</li><li>According to the data released by the <a href="https://economictimes.indiatimes.com/nri/study/indians-studying-at-london-universities-register-astonishing-growth/articleshow/81589610.cms">Higher Education Statistics Agency (HESA) </a>cited by The Economic Times, 13,435 Indian students are enrolled currently in <keyword id="2519901" type="PERSON" weightage="20" keywordseo="London-universities">London universities</keyword>.</li><li>A study by <keyword id="5956277" type="UNKNOWN" weightage="20" keywordseo="Leverage-Edu">Leverage Edu</keyword> also revealed that 75% of the students registered on their platform are keen to pursue <keyword id="6375224" type="UNKNOWN" weightage="20" keywordseo="higher-education">higher education</keyword> in the UK.</li><li>A few prestigious scholarships available for Indian students who wish to pursue their studies in UK.</li></ul>When it comes to studying abroad, the United States, the United Kingdom and Canada are popular choices among most Indian students. These three countries have a big majority of the world’s best ranked universities. “The reason behind choosing these three destinations is that the governments of respective countries are opening up their higher education and immigration policies and communicating in a far more welcoming manner for <keyword id="113647" type="ORGANIZATION" weightage="20" keywordseo="International-students">international students</keyword>,” says Akshay Chaturvedi, founder and chief executive of Leverage Edu, an online <keyword id="68134" type="PERSON" weightage="20" keywordseo="study-abroad">study abroad</keyword> and career counselling platform. According to the data released by the <a href="https://economictimes.indiatimes.com/nri/study/indians-studying-at-london-universities-register-astonishing-growth/articleshow/81589610.cms">Higher Education Statistics Agency (HESA) </a>cited by The Economic Times, 13,435 Indian students are enrolled currently in London universities -- a growth of 87% this year as compared to last year. A study by Leverage Edu also revealed that 75% of the students registered on their platform are keen to pursue higher education in the UK. These are a few prestigious scholarships available for Indian students who wish to pursue their studies in UK — 1. Chevening Scholarships It is one of the most coveted scholarships available for international students to study in the UK that provides complete financial support for one-year postgraduate programmes in the country. It covers around more than 12,000 courses in almost 150 universities. The applications are open for students who wish to <a href="https://www.chevening.org/scholarship/india/">apply</a>. 2. Commonwealth Scholarships and Fellowships The governments of 53 Commonwealth Countries offer <keyword id="49588" type="PERSON" weightage="20" keywordseo="scholarship">scholarship</keyword> rewards to students from Commonwealth nations. It covers a wide range of postgraduate and PhD courses in various big universities. Students who wish to study can apply <a href="https://cscuk.fcdo.gov.uk/scholarships-results/?wpv-cscukscholarshipcountry=india&amp;wpv_filter_submit=search">here</a>. 3. The British Academy It offers various scholarships and funding assistance to international students for doctoral and research scholars in any discipline including humanities and social sciences. The last date for applying for this scholarship is September 29. Students can apply <a href="https://www.thebritishacademy.ac.uk/funding/knowledge-frontiers-international-interdisciplinary-research/">here</a>. 4. The Royal Society This scholarship is open for science students who are early career researchers. The candidate must have 3-8 years of research experience after completing their PhDs. The last date for applications is September 7, interested candidates can apply <a href="https://royalsociety.org/grants-schemes-awards/grants/university-research/">here</a>. 5. Gates Cambridge This scholarship programme was started by the Bill and Melinda Gates Foundation. It covers the full cost of studying at Cambridge University and offers other discretionary funding as well. This is available only for postgraduate and PhD students. The application for next year will open in September. Students who wish to study can apply <a href="https://www.gatescambridge.org/apply/how-to-apply/">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/these-are-some-of-the-universities-that-offer-free-education-for-international-students/slidelist/84463712.cms">Planning to study abroad? These are some of the universities that offer a free education for international students</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/banking-jobs-hdfc-axis-icici-and-other-banks-are-hiring-across-the-country/articleshow/84666214.cms">Banking jobs: HDFC Bank, Axis Bank, ICICI Bank and more are hiring across the country for various roles</a>

Planning to study in the UK? These are a few scholarships available for international students

<ul><li>One dollar now costs as much as ₹80 rupees, which changes the dynamics of student loans drastically.</li><li>If a student took out a loan of $100,000, it would now be worth ₹8,000,000 instead of ₹7,000,000 it was last year.</li><li>The depreciation of rupee has an impact on three people — the students going to study, the students who are already studying abroad and the ones repaying the student loans.</li></ul>August is right around the corner and many students are getting ready to go to foreign universities, but a weaker rupee is expected to spoil the party. One US dollar now costs ₹80. The impact will be felt by students going to the US, Australia and Canada. If a student takes a loan of $100,000, it would now amount to ₹8,000,000 instead of ₹7,000,000 last year. “Amidst the sharp fall in rupee against the US dollar, and the expense towards pursuing higher education abroad skyrocketing, availing the right education loan has become imperative for students and their parents, especially for countries like the United States, Australia and Canada.” Mahesh Shukla, CEO and Founder of lending app PayMe India, told Business Insider. <cmsannotation type="cmsannotation" annotationid="It’s much worse for students already studying abroad" comment="subhead" text="It’s much worse for students already studying abroad">It’s much worse for students already studying abroad</cmsannotation> Ankit Mehra, the CEO and co-founder of non-banking financial company (NBFC) GyanDhan, noted that the situation could worsen by next year if the rupee continued its downward slide. The students who took the loan this year at the deprecated rate would at least be able to pay the tuition fee at that rate for the first year of education. The matter gets more complex for students who are already studying abroad. “A student who has been paying a fee of ₹65 per dollar in 2017 will now have to pay around ₹80 per dollar in 2022, thereby increasing his financial obligations significantly,” PayMe India’s Shukla said. The value of the rupee has depreciated about 7% in the last six months. Now, students who took education loans without any margins for currency depreciation could currently be at a shortfall of 7%, which is a really big margin to cover. If the value of the rupee depreciates any further, the students who went to study this year would be in a similar situation for their second year of education. Several lenders — including GyanDhan — have launched a top-up scheme offering additional funds to students. So much for the tuition fee. Students also have to worry about managing living expenses. “The countries that the student is eyeing to pursue higher education also matters amidst economic turmoil… Countries like Austria, Belgium, Germany and Norway also provide quality education, which might not get too much impacted by the exchange rate fluctuations,” Rachit Chawla, founder and CEO of an NBFC called Finway FSC, said. <cmsannotation type="cmsannotation" annotationid="Students repaying dollar loans feel the pinch" comment="subhead" text="Students repaying dollar loans feel the pinch">Students repaying dollar loans feel the pinch</cmsannotation> GyanDhan’s Mehra noted that the depreciation of rupee has an impact on three people — the students going to study, the students who are already studying abroad and the ones repaying the student loans. Individuals who took loans from an international lender in dollars and are currently earning in rupees owe much more to the banks. Meanwhile, the ones who took out a loan from an Indian lender and are earning in dollars are in a sweet spot, as they owe much less to the banks. “When students are going abroad they tend to compare two banks — let's say an Indian bank and an international lender — they just look at the (interest) rates,” Mehra noted, highlighting that an international lender would lend money in an international currency, which is subject to fluctuations. “Once they come back to India, they see that the 10% (interest rate) wasn’t really a 10%. It is actually a much different loan,” he added. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/reliance-industries-itc-infosys-and-other-hot-stocks-on-july-22/articleshow/93041515.cms" style="">Indian markets open in the green – RIL, M&amp;M gain while Nifty IT, Infosys decline</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-prime-day-best-offers-deals-discounts/articleshow/93024348.cms" style="">Amazon Prime Day 2022 – early deals, bank offers, Prime membership and everything else you need to know</a> <a href="https://www.businessinsider.in/business/news/reliance-industries-to-start-fy23-with-strong-earnings-thanks-to-refining-margins/articleshow/93041430.cms" style="">Reliance Industries to start FY23 with strong earnings, thanks to refining margins</a>

₹80 impact: Students going to study abroad will feel the pinch, but it is worse for students already there

Universities and <keyword id="20257650" type="General" weightage="20" keywordseo="higher-education-institutions" source="keywords">higher education institutions</keyword> in India can now admit students twice a year similar to the admission process followed by universities abroad, according to the <keyword id="19932585" type="General" weightage="20" keywordseo="University-Grants-Commission" source="keywords">University Grants Commission</keyword> (UGC) Chairman Jagadeesh Kumar. The two admission cycles will be July-August and January-February from the 2024-25 academic session. "If <keyword id="21269142" type="General" weightage="20" keywordseo="Indian-universities" source="keywords">Indian universities</keyword> can offer admission twice a year, it will benefit many students. Such as those who missed admission to a university in the July/August session due to a delay in the announcement of board results, health issues, or personal reasons. Biannual university admissions will help students maintain motivation since they do not have to wait one full year to be admitted if they miss admission in the current cycle," UGC Chairman Kumar said on Tuesday. Currently, UGC Regulations allow the Higher Education Institutions (HEIs) to admit students in one academic session in a year starting in July/August. An 'Academic session' is twelve months, beginning in July/August. Indian HEIs, therefore, follow the academic session that begins in July-August and ends in May-June. UGC had decided in its 571st commission held on 25 July 2023 to permit <keyword id="22014108" type="General" weightage="20" keywordseo="biannual-admissions" source="keywords">biannual admissions</keyword> under Open and Distance Learning (ODL) and Online modes in January and July during an academic year. As per the information furnished by the HEIs on the UGC DEB portal, in addition to a total of 19,73,056 students were enrolled in July 2022 and an additional 4,28,854 students joined in January 2023 in ODL and online programs. Considering the tremendous response and interest from the students in ODL and online programs in biannual admissions, in its meeting held on May 15 this year the UGC took a policy decision to allow Higher Education Institutions who offer programs in regular mode to admit students twice in a year, either in January/February or July/August from the coming academic year, the UGC chairman said. Those institutions that have the required infrastructure and teaching faculty can utilize the opportunity to admit students biannually. Offering biannual admissions is not mandatory for the HEIs; it is the flexibility that UGC provides to the HEIs who want to increase their student intake and offer new programmes in emerging areas. To be able to admit students twice a year, HEIs must make suitable amendments to their institutional regulations. UGC Chairman Kumar said, "With biannual admissions in place, Industries can also do their <keyword id="22014800" type="General" weightage="20" keywordseo="campus-recruitment" source="keywords">campus recruitment</keyword> twice a year, improving employment opportunities for the graduates." Biannual admissions will also enable the HEIs to plan their resource distribution, such as faculty, labs, classrooms and support services, more efficiently, resulting in a better functional flow within the university, he said. Noting that Universities worldwide already follow a biannual admission system, he said that if Indian institutions adopt the biannual admission cycle, they can enhance their international collaborations and student exchanges. "As a result, our global competitiveness will improve, and we will align with the global educational standards," the UGC Chairman said. Biannual admissions can substantially increase the Gross Enrolment Ratio and make India a 'Global Study Destination' as envisioned in National Education Policy (NEP) 2020, he said. Further, Kumar said that if HEIs adopt biannual admissions, they need to work on administrative intricacies, good planning for increased use of available resources, and providing seamless support systems for the smooth transition of students admitted at dissimilar times of the year. "HEIs can maximize the usefulness of biannual admissions only when they sufficiently prepare the faculty members, staff and students for the transition" SEE ALSO:<a href="https://www.businessinsider.in/tech/news/ios-18-announced-with-apple-intelligence-improved-privacy-controls-customisable-home-screen-and-more/articleshow/110883233.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/ios-18-announced-with-apple-intelligence-improved-privacy-controls-customisable-home-screen-and-more/articleshow/110883233.cms" target="_blank">iOS 18 announced with Apple Intelligence, improved privacy controls, customisable home screen and more</a><a href="https://www.businessinsider.in/tech/news/apple-vision-pro-to-be-available-in-nine-new-countries-but-india-is-not-one-of-them/articleshow/110883439.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/apple-vision-pro-to-be-available-in-nine-new-countries-but-india-is-not-one-of-them/articleshow/110883439.cms" target="_blank">Apple Vision Pro to be available in nine new countries, but India is not one of them</a><a href="https://www.businessinsider.in/stock-market/webstories/ixigo-ipo-now-open-price-band-to-risk-factors-all-you-need-to-know/slidelist/110867238.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/webstories/ixigo-ipo-now-open-price-band-to-risk-factors-all-you-need-to-know/slidelist/110867238.cms" target="_blank">Ixigo IPO now open – Price band to risk factors, all you need to know</a>

Universities in India can now admit students twice a year on lines of foreign varsities: UGC chairman

<ul><li>Many top universities have turned flexible with student intake, and lowered criteria to increase the number of falling foreign students, Akshay Chaturvedi, founder and CEO of Leverage Edu told Business Insider in an interview. </li><li>However, nearly 50% of the students look to defer foreign university admission. </li><li>To attract <keyword id="113647" type="ORGANIZATION" weightage="20" keywordseo="International-students">international students</keyword>, higher education platforms and universities are now teaming up to conduct webinars, virtual university tours — allowing students to meet the school representatives for one-on-one conversations. </li><li>Ravneet Pawha, deputy VP at Deakin University Australia says that most universities are giving provisional offers, allowing the students to enroll fully once the entrances and other exam results are out.</li></ul>The Coronavirus pandemic has played spoilsport on what could have been the best year for Indians students to <keyword id="68134" type="PERSON" weightage="20" keywordseo="study-abroad">study abroad</keyword>. Many top universities have turned flexible with student intake, and lowered criteria to increase the number of falling foreign students. “A lot of top schools have lowered the eligibility criteria slightly. They are giving GMAT, GRE waivers in terms of scores, extending deadlines etc. And this has never happened before in the last 20-25 years,” Akshay Chaturvedi, founder and CEO of online higher education platform Leverage Edu told Business Insider in an interview. ‘Nearly 50% of the students look to defer foreign university admission’ This year, half of applicants received a seat and most of them had even paid admission fees, according to a recent survey by Shiksha. But now these students are having second thoughts. They are concerned about health and other restrictions and choosing to delay plans to travel abroad for education, due to the Coronavirus scare. Nearly 50% of the students are considering the possibility of deferring to the future. Ravneet Pawha, deputy VP at Deakin University Australia believes that while the students are considering deferring their international study plans, the sentiment is ‘okay’. “Around the world, this is the time that students are finalising their destination, applying to universities. But this whole lockdown situation has changed the mindset of parents and students to think of international education. Having said that, students are wanting to defer but not cancel plans,” she said. The Great Lockdown effect The delay in admissions and classes at the university level is not encouraging either. While many universities have shifted to <keyword id="977497" type="PERSON" weightage="20" keywordseo="online-classes">online classes</keyword> for even full-time courses for the current semester, students are preferring to defer to next year to enroll in the January 2021 batch because they are still unsure of the online model. “There will be a downturn in international students this year. Universities have already delayed the start of the September cohort. At this juncture, nobody would want to go,” Nitish Jain, President at SP Jain School of Global Management told Business Insider. To attract international students, higher education platforms and universities are now teaming up to conduct webinars, virtual university tours — allowing students to meet the school representatives for one-on-one conversations. “We are getting universities to do webinars every single day and we are directly connecting the applicants to the universities. Universities are also playing on frontfoot. They are ensuring students that, if for the worse the situation does not get better anytime soon, the classes would be conducted online throughout,” Akshay said. Universities extend provisional offers - before entrance exams For those applying to undergraduate colleges, the hurdle has come from exams itself, which have been delayed. And, final year students are awaiting their results. Students are not preparing for any exam that cannot be given online, and they are definitely not sitting for the international entrances like GMAT, GRE or TOEFL. In fact, many test centers across the globe have also closed down in the wake of Coronavirus. These test scores are necessary for graduate school admissions. Universities are now going the extra mile to woo students back. Pawha says that most universities are giving provisional offers, allowing the students to enroll fully once the entrances and other exam results are out. “You can start studying online, paying for one or two subjects for now and by August end, you can submit their final results,” she added. For instance, INSEAD recently became the first B-school that allowed aspiring MBAs to apply without test results. In spite of the many efforts, it looks like students will decide on their plans to study abroad only after the rate of infection ebbs. See also: <a href="https://www.businessinsider.in/careers/news/iim-calcutta-covidian-batch-of-mba-students-kick-off-classes-digitally/articleshow/75425281.cms">IIM Calcutta’s 'Covidian' batch of MBA students kick off classes digitally</a>

How international universities are dealing with enrollment and intake of Indian students

<ul><li>International students — including Indians — will no longer have to learn Chinese languages while pursuing <keyword id="7613558" type="UNKNOWN" weightage="20" keywordseo="medicine-in-China">medicine in China</keyword>. </li><li>The Ministry of Education, China has recognized 45 universities that can enroll foreign students in medicine programs in English </li><li>However, bilingual curriculum is ‘strictly prohibited’ under the government rules. </li><li>For universities authorised under the education ministry, the cost of a degree in medicine costs nearly ₹300,000 to ₹500,000 in China.</li></ul>As more Indians opt for studying abroad, China recently opened its doors further to attract Indian students. The country’s government has announced that international students — including Indians — will no longer have to learn Chinese languages for pursuing medicine in their country. According to media reports, the Chinese Ministry of Education (MoE) rolled out an official list of universities in China that are qualified to teach an MBBS degree programme in English. The ministry has <a href="https://www.thehindu.com/news/cities/chennai/only-45-chinese-varsities-can-admit-indian-students/article27073965.ece">recognized 45 universities</a> that can enroll foreign students — including Indians — that will provide education in English. However, there is a ban on bilingual curriculum — Chinese and English. The announcements float just ahead of the next admission season that will see many Indians applying for courses abroad. Since 2016, over 7,000 Indians have <a href="https://www.hindustantimes.com/education/only-45-medical-varsities-listed-to-teach-mbbs-in-english-in-china-beijing/story-pYavo9INMulCQrvKafThuL.html">moved to China</a> to study medicine. In fact, over 21,000 Indian students were enrolled in MBBS courses across the country last year. Ever since China opened its doors to foreign students in 2003, this was the highest enrollment from India. One driver for Indian students is the relatively cheaper tuition. For government-authorized universities, medicine education costs nearly ₹300,000 to ₹500,000. In India, the tuition costs can range from ₹1 million to ₹3 million. You can view the list of universities on the official<a href="http://en.moe.gov.cn/"> website </a>of Ministry of Education, China. See also: <a href="https://www.businessinsider.in/pubg-s-replacement-in-china-is-a-patriotic-game-of-peace/articleshow/69244628.cms">PUBG's replacement in China is a patriotic 'Game of Peace'</a> <a href="https://www.businessinsider.in/indias-sparc-scheme-to-give-grants-to-students-for-foreign/articleshow/69159777.cms">Indian university students looking to pursue research abroad can now get funding from the government</a>

You no longer need to know Chinese languages if you want to study medicine in China

<ul><li>India’s External Affairs Ministry has proposed in its draft <keyword id="7297491" type="UNKNOWN" weightage="20" keywordseo="emigration-bill-2019">Emigration Bill 2019</keyword> new rules for mandatory registration. </li><li>The bill proposes Indian nationals planning overseas education or employment will have to register with the government before moving out. </li><li>Last year, the government made a similar announcement to register with the External Affairs Ministry before taking up a job overseas.</li></ul>Indian nationals planning to go abroad for studies or work may now need to register with the government before departing to other countries. The Indian government has <a href="https://timesofindia.indiatimes.com/india/going-abroad-for-studies-you-mayve-to-register-with-govt/articleshow/67859644.cms?from=mdr">proposed</a> a mandatory registration process as part of the draft emigration bill aimed at strengthening its ‘Emigration management framework.’ The process, which is likely to be digital, is reportedly aimed at providing assistance to the citizens abroad in times of need. India currently has a mandatory registration requirement for Indian nationals seeking to work in 18 countries including the UAE, Saudi Arabia, and Afghanistan. The draft bill also proposes to <a href="https://www.dailypioneer.com/2019/india/govt-proposes-new-emigration-bill-2019.html">set up</a> an ‘Emigration Management Authority (EMA)’ for overall welfare and protection of its emigrants. It will also set up two bureaus — Bureau of Emigration Policy and the Bureau of Administration for handling emigration related issues and daily operations. It will also include migrant resource centres, legal assistance and help desks to facilitate the Indian workforce and students in other countries. Last year, the Indian government made a similar announcement for Indian citizens to register with the External Affairs Ministry before taking up a <a href="https://www.thehindu.com/news/national/e-registration-must-for-jobs-in-18-countries/article25560355.ece">job overseas</a>. The rule was enforced on 1 January 2019 and is applicable for 18 countries — Thailand, UAE, Afghanistan, Bahrain, Indonesia, Iraq, Jordan, Kuwait, Libya, Malaysia, Oman, Qatar, Saudi Arabia, Sudan, South Sudan, Syria, Yemen and Lebanon. However, this also includes the citizens with “non-emigration Check Required (non-ECR)” status. According to the Reserve Bank of India, the number of Indian students preferring <keyword id="1111686" type="PERSON" weightage="20" keywordseo="Education-abroad">education abroad</keyword> has gone <a href="https://www.indiatoday.in/education-today/study-abroad/story/trends-overseas-education-industry-in-2019-divd-1431292-2019-01-15">up by 44%</a> with most students preferring US, UK, Australia and Canada for higher education in 2019. See also: <a href="https://www.businessinsider.in/india-will-soon-have-chip-based-e-passport/articleshow/67645016.cms">India will soon introduce chip-based e-passport and simplified visa norms: PM Modi</a> <a href="https://www.businessinsider.in/more-indians-have-left-the-country-as-its-economy-has-grown-report/articleshow/66732249.cms">More Indians have left the country as its economy has grown: Report</a> <a href="https://www.businessinsider.in/aadhaar-valid-for-indian-travellers-visiting-nepal-and-bhutan/articleshow/67621056.cms">India okays Aadhaar as a valid travel document for Nepal and Bhutan — but only for certain age groups</a>

Indians planning to study abroad may have to register with the government

<ul><li>The UK government has announced a two-year post-study work visa to boost career opportunities in the country for international students — including Indians. </li><li>This new scheme will apply to all international students having UK immigration status, who have completed an undergraduate or higher educational degree from any UK university. </li><li>It will enable students to work in the field of their choice for two years after the completion of the course. </li><li>Almost half of all <keyword id="43976" type="PERSON" weightage="20" keywordseo="Indian-students">Indian students</keyword> in the UK over the last decade chose a STEM subject as their field of study.</li></ul>The UK government is making it easier to for its foreign students to find jobs in the country. It today announced a two-year post-study work visa for international students. And the increasing number of Indian students in the UK, have a lot to gain. Their numbers doubled in the last three years. This new scheme will apply to all international students having UK immigration status, who have completed an undergraduate or higher educational degree from any UK university. “The new graduate route will mean talented international students, whether in science and maths or technology and engineering, can study in the UK and then gain valuable work experience as they go on to build successful careers,” said Home Secretary Priti Patel. This will allow students to gain more industry-relevant skills and experience in their chosen field of education. The UK has already fast-tracked visas for research scholars. It aims to boost STEM (Science, Technology, Engineering and Mathematics) sector in the country. In fact, almost half of all Indian students in the UK over the last decade chose a STEM subject as their field of study. According to the British High Commission, 96% of Indians willing to go to the UK, have received UK visas. “This will help ensure that the UK remains one of the best destinations for students across the world. Last year alone we saw a massive 42% increase in the number of Indian students,” Sir <keyword id="3277271" type="PERSON" weightage="20" keywordseo="Dominic-Asquith">Dominic Asquith</keyword>, British High Commissioner to India said. Overall, nearly 22,000 Indians received student visas for the year ending June 2019, which is 15,000 more than last year. The <keyword id="6359595" type="COMPANY" weightage="20" keywordseo="british-council">British Council</keyword> also extends nearly 500 scholarships every year — including research collaborations. “We are excited to provide student mobility opportunities for up to 200 UK students to India and contributing to the internationalisation of Indian higher education institutions in line with the objectives of the Study in India programme of the Government of India,” said Barbara Wickham OBE, Director India, British Council. See also: <a href="https://www.businessinsider.in/indians-studying-in-the-uk-have-doubled-in-the-last-three-years/articleshow/70804829.cms">Indians studying in the UK have doubled in the last three years</a> <a href="https://www.businessinsider.in/jee-candidates-can-apply-for-uk-queens-university/articleshow/69922025.cms">Those who clear India's Joint Entrance Examination (JEE) may get a shot at UK's Queen's University</a> <a href="https://www.businessinsider.in/the-us-government-wants-to-check-social-media-handles-before-giving-a-green-card/articleshow/71003314.cms">The US government wants to check social media handles before giving a green card</a>

You Searched For "Indians studying abroad" and got 13 results

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