Nikhil Kamath has a piece of advice for Indian students studying abroad amid mass layoffs

 

• Elaborating further, Kamath said, 'Going abroad to study and network is one thing, being burdened with insane debt for life at 7-8% is another'

As the world's biggest tech companies collectively lay off over 150,000 employees in recent months to cut costs, Nikhil Kamath, founder of Zerodha and True Beacon, has asked Indian students going abroad to join new universities set up in the country. To reconsider asked to get higher education. ,

"With rising interest rates in the West and mass firings in high-paying tech jobs, India should reconsider setting up new universities, which have improved tremendously," the Bengaluru-based entrepreneur wrote on Twitter.

Elaborating further, Kamat said, “It is one thing to go abroad to study and network, it is another thing to be stuck in an insane debt of 7-8% for the rest of your life.”

In his tweet, Kamath shared a chart curated by InvestiWise, which showed an increase of around 44.87 per cent in Indian students going abroad to study since 2018.

According to the data provided by the Ministry of Education (MoE), there has been an increase in the total number of Indian students going abroad for studies in the last one year.

Minister of State for Education Dr. Subhash Sarkar informed the Lok Sabha that last year around 7.5 lakh students went abroad. The number of students going abroad (7,50,365 students) increased by 68.79 percent as compared to 4,44,553 students in 2021.

As per the data, the number of Indian citizens studying abroad increased from 4.54 lakh in 2017 to 5.17 lakh in 2018.

There was a significant increase in 2019 as well, with 5.86 lakh candidates leaving the country for higher studies. During the COVID-19 pandemic, the number of Indian nationals in foreign universities witnessed a record drop as only 2.59 lakh students registered for higher studies. 2021 saw a marginal increase in the number with 4.44 lakh registrations.

Among many countries, popular study-abroad destinations included the US, the UK, and Australia. In a written reply to a question by JDU MP Rajeev Ranjan Singh, Subhash Sarkar shared detailed information.