<h1 class="ql-align-center"><strong style="color: rgb(230, 0, 0);">Deakin University becomes the first foreign university in India</strong></h1><p class="ql-align-center"><br></p><h3><strong>Context&nbsp;</strong></h3><ul><li class="ql-indent-1"><strong>Australia’s Deakin University </strong>is set to become the first foreign university to enter India via an independent campus in <strong>Gujarat’s GIFT City.</strong></li></ul><h3><strong>About&nbsp;</strong></h3><ul><li class="ql-indent-1">Deakin is ranked 266th in the <strong>QS World University Rankings</strong> and features among the top 50 young universities in the world.&nbsp;</li><li class="ql-indent-1">That apart, the university is placed in the 250- 300 band in the <strong>Times Higher Education World Rankings.</strong></li><li class="ql-indent-1">Deakin University becomes the First foreign university to be approved by <strong>International Financial Services Centres Authority (IFSCA)</strong> to establish an International Branch Campus (IBC) in GIFT City, Gujarat.</li><li class="ql-indent-1">In Budget 2022-23, it was proposed that Foreign Universities and Institutions can offer courses in Financial Management, FinTech, Science, Technology, Engineering, and Mathematics in GIFT City, free from domestic regulations.</li><li class="ql-indent-1">In this direction, IFSCA in October 2022 notified IFSCA (Setting up and Operation of International Branch Campus and Offshore Education Centres) Regulations, 2022.</li><li class="ql-indent-1">The university will offer the degree courses it offers in Australia in the field of Science, Technology, Engineering, Mathematics, and Financial Management for both Indian and foreign students. The degree will be identical or similar to that offered in the home jurisdiction.</li></ul><h3><strong>GIFT City</strong></h3><ul><li class="ql-indent-1">Gujarat International Finance Tech-City (GIFT City) is a <strong>planned business district in the state of Gujarat.</strong></li></ul><h3><strong>Features of GIFT City –</strong></h3><ul><li class="ql-indent-1">It is India's first operational <strong>greenfield smart city </strong>and <strong>International Financial Services Centre (IFSC).</strong></li><li class="ql-indent-1">It is a vertical city that will optimize the land area consumption for the development.</li><li class="ql-indent-1">It is located on the banks of Sabarmati River, <strong>connecting the business capital (Ahmedabad) and the political capital (Gandhinagar) of Gujarat state.</strong></li><li class="ql-indent-1">It has a dedicated multi-services <strong>Special Economic Zone (SEZ) </strong>for international operations for various services sector players.</li></ul><p class="ql-align-center"><br></p><h1 class="ql-align-center"><strong>PRELIMS NOTES:</strong><a href="https://www.sunyaias.com/subscription-details/prelims-2023-sunya-notes-current-affairs" rel="noopener noreferrer" target="_blank" style="color: rgb(0, 102, 204);"><strong>CLICK HERE</strong></a></h1>