A recent study (UNESCO Institute for Statistics, May 2014) suggests that almost two lakh Indian students are currently studying abroad; Australia and the US being the preferred destinations. Surprisingly, Europe is not such a favoured destination any more. This is in sharp contrast to the meagre 28,000 foreign students studying in India. It is thus, no surprise Indian students spend roughly ₹ 45,000 crore on foreign education each year.

While inaugurating the National Education Day programme virtually at Indian Institute of Technology Bombay on 10 November, 2020 to commemorate the birth anniversary of India’s First Education Minister Maulana Abul Kalam Azad, the Union Education Minister Ramesh Pokhriyal ‘Nishank’ put forth a novel initiative ‘Study in India, Stay in India’.

During the National Education Day programme, the Education Minister said, "The vision behind the ‘Study in India, Stay in India’ program is to promote Internationalization of Education. We are committed to establish India as a global hub of education. To guarantee high quality of education, it is also essential that we move forward with cooperation, coordination and agreement to create leading universities of the world equipped with contemporary education facilities. By inviting Top 100 World Universities to set up campus in India, this has already been incorporated in National Education Policy 2020. "

"India is prominently becoming a global education hub and the National Education Policy 2020 is making sure the academicians will study in India and stay in India. Soon, the world will come to India to learn," Nishank said.

Ramesh Pokhriyal also acknowledged that IIT Bombay is a leading global technological institution which plays a pragmatic role in ensuring transformative education to create leaders and innovators across the country along with generating new knowledge for society and industry. He further added that, the implementation of NEP-2020 will renovate the education system of the country.

Relating to NEP 2020, during the inauguration program, Dr K Kasturirangan, Chairman, Drafting Committee of National Education Policy, said, " Considering the interconnection of the various phases of education in mind, and its impact on enabling the continuity, coherence and processes to ultimately realize an 360 degree educational road-map for the country, the National Education Policy 2020 epitomizes a cohesive yet flexible approach to education.”

The Chief Guest conferred Professor Krithi Ramamritham Award for creative research-2019 to Professor Jayakrishnan Nair, Department of Electrical Engineering, IIT Bombay for his significant research contributions in ‘Uncertainty management in the smart, renewable-rich power grid’, and to Prof. Varun Bhalerao, Department of Physics, IIT Bombay, for his significant research contributions in ‘Electromagnetic counterparts to gravitational wave sources’. Issued from the endowment grant given by Prof. Jayant R. Harista, IISc, Bangaluru, the award consists of a citation and a cash incentive of ₹1,00,000/- each.