I think it should be allowed it will help in rising Indian education standards. Students get the specialised courses like the CFA Degree run by the CFA Institute, USA in India here self. foreign universities start operating in India will allow students who cannot afford to travel abroad and also will give students a choice and expand higher education offerings in India.

And also Indian people are always try to know about foreign culture and always try to adopt their culture in us. India is filled with so many great minds that if they get together they would really contribute to the development of the nation rather than moving towards foreign to seek jobs.

By bringing in foreign universities, will it enhance the quality of higher education and contribute to economic well-being of the country are seminal questions and every year many people are going to foreign for higher studies and spending their money there and settle there after education, so we are losing our intellectual resource

A number of foreign universities have showed interest in India List of Foreign Universities in India
1.Virginia Polytechnic Institute and State University (Virginia Tech)
2.Georgia Institute of Technology (Georgia Tech)
3.Schulich School of Business
4.Boston University
5.Middlesex University
6.Duke University
7.Maastricht University in the Netherlands
8.Melbourne University