Liberalization in India's education system could have positive impacts but also risks. It may increase funding for research and expand supply to meet shortage, while competition improves quality. However, it could also increase unemployment and monopolies. Possible solutions include limiting the government's role to regulation, establishing an effective regulator, and conditions on foreign institutions like requiring Indian leadership and oversight of tuition increases. Overall the document discusses the concept of liberalization, status in India, and impacts as well as potential regulatory solutions.