Indian edtech company upGrad is pivoting its global expansion strategy as longstanding reliance on U.S. campuses becomes less lucrative, and alternative markets in Asia and the Middle East emerge as critical opportunities. Founded in 2015 by film producer Ronnie Screwvala and backed by Singapore-based investment firm Temasek, upGrad has evolved into one of India’s leading online education platforms, specializing in higher education, professional certifications, and executive learning programs.

The company partners with more than 80 universities across ten countries to provide online MBA programs, executive education courses, and blended learning solutions. Its business model combines enrollment in online programs with support for students who pursue degrees on international campuses. Revenue streams include tuition fees, professional development courses, and partnerships with universities seeking to expand their global footprint. UpGrad has positioned itself as a bridge between Indian students and foreign universities, offering programs that enable learners to complete degrees partially online and partially abroad.

The Shifting Appeal of U.S. Campuses

Historically, the United States has been the primary destination for Indian students seeking advanced degrees, due to competitive research opportunities, strong post-graduation employment prospects, and higher salary potential. U.S. institutions such as Johns Hopkins, Carnegie Mellon, and others have long attracted Indian students to their domestic campuses, contributing significantly to upGrad’s business.

However, this model has faced increasing challenges in recent years. Visa restrictions, cost pressures, and stricter scrutiny of international students’ social media presence have made U.S. campuses less accessible. The share of Indian students traveling to the U.S. dropped from 60% in fiscal 2024 to 47% in fiscal 2025, reflecting both geopolitical tensions and a growing preference for more affordable or regionally proximate education destinations. Students are increasingly weighing the rising costs of tuition and living expenses against alternative programs in Asia and the Middle East.

Industry executives note that this decline in U.S. campus enrollment has forced platforms like upGrad to reconsider their reliance on North American destinations. The combination of bureaucratic hurdles and softer job prospects post-graduation has reduced the attractiveness of U.S. programs for cost-sensitive Indian learners.

Strategic Pivot to Middle East and Asia-Pacific

In response, upGrad is aggressively expanding partnerships with universities in the Middle East and Asia-Pacific, regions that are experiencing rapid growth in higher education demand. Associate Vice President Praneet Singh highlighted initiatives in countries including Dubai, Doha, Singapore, Malaysia, Japan, Vietnam, Bangladesh, Nepal, and Sri Lanka. These locations host international branch campuses of well-known U.S. and U.K. institutions, allowing upGrad to continue facilitating cross-border education while mitigating visa and cost challenges for students.

For instance, universities such as Johns Hopkins and Carnegie Mellon now operate campuses in Dubai and Doha, providing students with access to globally recognized programs closer to home. Similarly, U.K.-based universities, including Birmingham and Middlesex, have established presence in Asia and the Middle East. By linking Indian students with these campuses, upGrad preserves the prestige and academic rigor of its offerings while avoiding the limitations imposed by U.S. immigration policies.

This strategy is supported by the broader trend of universities seeking to internationalize their programs. The global higher education market has seen a surge in cross-border collaborations, online degree programs, and branch campuses. Markets such as Southeast Asia and the Middle East offer favorable demographics, including a young population and rising demand for professional education, alongside government incentives to attract foreign institutions.

Diversification Beyond Traditional Markets

In addition to geographic diversification, upGrad is enhancing its portfolio by investing in digital-first learning experiences and hybrid programs that combine online and offline components. The company’s platforms leverage AI-driven personalized learning, mentorship, and career services, providing an end-to-end solution for students seeking international exposure. By emphasizing online delivery, upGrad reduces dependency on costly physical campuses while maintaining global accreditation and industry relevance.

The platform also explores executive education and professional certifications targeted at working professionals in Asia and the Middle East. These programs allow learners to upgrade skills in areas such as data science, business management, and technology without leaving their home countries. This strategy aligns with broader trends in lifelong learning, where professionals increasingly prioritize flexible, affordable, and career-aligned educational pathways.

Global Market Context and Competitive Position

Globally, the online education market is projected to exceed $350 billion by the end of the decade, driven by digital adoption, rising demand for upskilling, and the proliferation of remote learning platforms. In this landscape, upGrad competes with both Indian and international players, including Coursera, Udacity, and edX, which offer similar online programs and corporate training solutions.

UpGrad’s competitive advantage lies in its hybrid model, which combines localized support, global partnerships, and technological infrastructure tailored to Indian students. By building relationships with foreign branch campuses and regional institutions, the company positions itself as a facilitator of international education accessible to a broader demographic. The strategy also allows upGrad to capitalize on emerging markets with less penetration by U.S. universities and fewer regulatory hurdles.

The Potential of the New Strategy

Industry analysts view upGrad’s pivot as a pragmatic response to declining U.S. campus demand. By targeting Asia-Pacific and Middle Eastern institutions, the company can maintain growth momentum while expanding its footprint in high-demand regions. The strategy has the potential to broaden upGrad’s revenue base, strengthen university partnerships, and enhance brand recognition in global markets.

However, challenges remain. The company must navigate diverse regulatory environments, adapt its programs to local preferences, and compete with both regional and global players. Additionally, achieving scale in newer markets will require sustained investment in technology, marketing, and student support. Nevertheless, the pivot aligns with macro trends, including increased cross-border education and rising demand for flexible, online learning solutions.

Experts suggest that success will depend on upGrad’s ability to differentiate its offerings, maintain academic quality, and leverage technology for personalized learning experiences. If executed effectively, the new strategy could position the company as a leading facilitator of international education across Asia and the Middle East, compensating for the diminishing returns from traditional U.S. campuses.

UpGrad’s evolution from a platform primarily connecting Indian students to U.S. campuses to a global education facilitator highlights the shifting dynamics of international higher education. The company’s focus on branch campuses in Asia-Pacific and the Middle East, coupled with digital learning innovations, reflects both market realities and strategic foresight. While uncertainties persist, the approach positions upGrad to benefit from growing demand for international-quality education in emerging markets, potentially securing its role as a major player in the global online learning ecosystem.

(Adapted from MoneyControl.com)

Categories: Economy & Finance, Regulations & Legal, Strategy