As many studies indicate, BRICS and emerging economies, especially those with a colonial past from Asia and Africa, have traditionally witnessed an exodus of students and researchers seeking opportunities in established universities outside their home country to develop their academic careers. However, a culmination of democratic values, aspirations of citizens from these countries, and globalization have resulted in the need for world-class universities in BRICS and emerging economies. While resources are important, the relationship between the government/regulatory bodies and universities warrants serious examination. Understanding and facilitating the role of faculty (staff), students, researchers, and international collaboration will remain important.