New York University Stern School of Business, ranked among the top in the world, is looking to increase its reach globally. To attract more international students, the B-school is mulling scholarship programmes. It is also eyeing partnerships in India, Geeta Menon, Dean, undergraduate college of NYU Stern, told Aswathy Varughese & Megha Mandavia. Excerpts from the interview:
You have campuses in two locations other than NY. Do you have any plans for India?
In case of Abu Dabhi and Shanghai, the partnerships were readily available. For a global site in India, we need infrastructure, financing, teaching support and, more importantly, local support. So we are looking for good partnerships to help and guide us on these fronts. If we are able to find these, India is a huge asset we would be interested in. Currently, we are exploring such possibilities.
Is foreign direct investment the one policy action you are looking at to have your presence in India?
It is a major hurdle for aspirants like us. So we need some help on the process and support from the government. For instance, in Shanghai we were invited to start branches there, even though their foreign policies did not allow it. Unless the legal and political provisions are fixed, it is early to tell that it will happen soon.
Do you have students' exchange programmes here?
Yes, we have tied up with some colleges here and a few students from India are undergoing a 10-day programme in NYU and similarly our 25 students are here for some courses. We do have international business exchange programmes. These are more or less traditional partnerships.
How is the flow of Indian students to Stern?
Around 15 students are coming directly from India every year.
What are the admission criteria?
It's a mixed bag. High school performance and students' activities outside the classroom. References and the essays that we make them to write reflects their interest in the course. In short, it's a package. We currently have scholarships for domestic students but not for international students. Creating international scholarships would be top priority and for that we are in touch with some alumni. It is somewhat skewed towards wealthy.
Do you see a drop in flow of international students with economic downturn?
No. In fact we have seen a rise in flow of international students. There is a 24% rise in international applications.
What are the good marketing techniques that emerging markets should adopt?
India is already using effective techniques and utilising the whole social media. But customer relationships should be a priority and I think India is actively doing this.