I am a student of Lovely Professional University.
The Credit Transfer System at LPU means that the credits/subjects studied and passed at LPU will be considered by a foreign university (that is collaborating with LPU) as their own. As a result, the student will get admission into the 3rd year of that particular course in that foreign university straightaway.
This is a foreign collaboration initiative which allows LPU students to complete 2 years in India and 2 years abroad/ 2 years in India and 1 year abroad/1 year in India and 1 year abroad. Through this collaboration, the students get a foreign university degree and ample exposure while saving a chunk of their tuition fees, which would otherwise be much higher in case they opt to pursue the entire course abroad.
These are the collaborating foreign universities for this program-
USA
Canada
Australia
UK
New Zealand
You can visit the university website for more information on the International Credit Transfer system at LPU- https://www.lpu.in/credit-transfer.php