Today, the student strength of Indias seven private universities is just 10,000, while the 63 private unaided deemed universities have another 60,000 on their rolls. Only around 8,000 students attend the 150 foreign institutions operating here, mostly through unrecognised franchises and subsidiaries. That needs to bulk up dramatically if the private sector is to fill the widening higher education chasm. The formal entry of foreign educational institutions is bound to raise questions regarding the curriculum, emoluments, admission policies, fees and legitimacy of degrees provided. The unwieldy affiliation system of Indian universities and inflexibility of the academic structure are other barriers for foreign institutions. It is estimated that apart from the human resource ministry, 15 other ministries and departments promote or regulate higher education. Therefore, there is an urgent need to revamp regulatory bodies like the UGC which have failed to maintain educational standards and have laid down entry barriers that are difficult to surmount. Only if we get it right can India reap the so-called demographic dividend.