Singapore education foundation plans $550m investment in India
Singapore-based Global Schools Foundation (GSF) says its global expansion plans to have India as one of its strategic growth markets, and it plans to invest over US$550 million in the country’s school education sector by year 2026.
“The GSF global expansion plans to have India one of its strategic growth markets, and plans to invest over US$550 million in India’s school education sector by year 2026,” Atul Temurnikar, Executive Chairman and Co-founder of GSF, said on 20 Dec 2022.
GSF, which already has a presence in India across Bangalore, Pune, Ahmedabad and Noida, is seeing a massive post-Covid increase in demand from domestic communities moving across cities within India, as well as from relocating families from international borders into India and vice-versa.
GSF is seeing many of its existing student communities from international markets such as North Asia, Southeast Asia, Middle east, Europe, the UK and USA, relocating to cities such as Mumbai, Bangalore, Chennai and Hyderabad.
“It is imperative that GSF takes necessary steps in investing to provide guaranteed admissions to such relocating students across its networks with zero disruptions,” he said in a release, announcing its biggest investment in India.
GSF plans to expand its international curriculum offering campuses in India through greenfield expansion and M&As into cities such as Bangalore, Hyderabad, Mumbai, Madurai, Nagpur and Noida.
Recently, New Okhla Industrial Development Authority (Noida) invited GSF to establish more international schools in the city to cater to the internationally moving communities into Noida.
With support of Enterprise Singapore, a division of the Ministry of Trade and Industry, GSF signed an MOU with Noida, committing to invest Rs.100 crores towards the new international schools that will offer International Baccalaureate and Cambridge IGCSE education in addition to CBSE.
The MoU was signed by Noida chief executive officer Ritu Maheshwari and Prafulla Rout, GSF Deputy chief financial officer.
Under the Scale-Up SG Programme, Global Schools Holdings of GSF has been selected by Enterprise Singapore to help expand its international operations. The MoU is under the programme.
Recognised as the world’s largest award-winning school network for having won more than 450 international awards in Business and Education Excellence, continues to be on a global expansion plan to expand its footprint to serve more communities across Europe, Japan, Middle East and India.
GSF, a not-for-profit foundation which reinvests for growth, has a network of 35 campuses across 11 countries and educates 32,000 students from 70 nationalities. fiinews.com
