Punjab Students Invest Rs 68,000 Crore Annually In Canada Education: Reports
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Chandigarh: The growing tensions between India and Canada are causing concerns among parents who have made significant investments in their children's education in Canada. Recent analysis has shown that these investments amount to a substantial outflow of approximately Rs 68,000 crore each year from Punjab, as reported by Khalsa Vox on Saturday.
According to Khalsa Vox, last year, Canada approved a total of 226,450 visas under the Refugees and Citizenship Canada (IRCC), and a significant portion, around 1.36 lakh students, came from Punjab. These students are pursuing various courses with an average duration of two to three years, as per TOI report.
Current data from student visa processing agencies suggests that approximately 3.4 lakh Punjabi students are currently enrolled in various educational institutions across Canada.
As per the Khalsa Vox, the Chairman of the Association of Consultants for Overseas Studies, Kamal Bhumla said, "Based on the figures available to us, nearly 60 percent of Indians migrating to Canada are Punjabi, accounting for an estimated 1.36 lakh students who went last year. On average, each student pays approximately 17,000 Canadian dollars in annual fees, in addition to depositing 10,200 Canadian dollars as Guaranteed Investment Certificate (GIC) funds."
A senior official from a prominent forex company in Jalandhar added, "We often observe that the average expenditure incurred by Punjabi parents to send their children to Canada on a student visa amounts to approximately Rs 20 lakh per year. Extrapolating from this data, it is safe to estimate that there are at least 3.4 lakh Punjabi students in Canada, collectively contributing Rs 68,000 crore annually to the Land of the Maple Leaf."
The Khalsa Vox publication highlighted a significant trend, noting that nearly 60 percent of all Indian students who choose to study in Canada are of Punjabi origin. Last year, approximately 1.36 lakh Punjabi students embarked on the journey to Canada for their education. According to Kamal Bhumla, the Chairman of the Association of Consultants for Overseas Studies, each of these students typically pays an average annual fee of around 17,000 Canadian dollars.