India’s education sector offers a great opportunity with approximately 29 per cent of India’s population being between the age group of 0-14 years. India’s higher education segment is expected to increase to Rs 2,44,824 crore (US$ 35.03 billion) by 2025. The education sector in India is estimated at Rs 6,40,891.3 crore (US$ 91.7 billion) in FY18 and is expected to reach Rs 7,06,587.9 crore (US$ 101.1 billion) in FY19. As of December 2018, internet penetration in India had reached 46.13 per cent. Increasing internet penetration will help in education delivery.
India has over 250 million school going students, more than any other country. It also has one of the largest networks of higher education institutions in the world. Number of colleges and universities in India reached 41,901 and 993, respectively in 2017-18. India had 36.64 million students enrolled in higher education in 2017-18. Gross Enrolment Ratio in higher education reached 25.8 per cent in 2017-18. In December 2018, the government of India published that 3.43 million candidates had enrolled in the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 2016-20 scheme. Up to January 24, 2019 as many as 2.52 million candidates were trained under under the scheme’s Short-Term Training (STT).
The Central Government plans to disburse US$ 1 billion to states for introducing skill development initiatives. In November 2016, Ministry of Skill Development and Entrepreneurship launched Pradhan Mantri YUVA Yojana, at a cost of Rs 521.93 crore (US$ 74.68 million) for providing entrepreneurship education and training to students in the country. Skill India Mission 2015 aims at skilling 400 million Indian youths by 2022. As of December 2018, there were 15,044 Industrial Training Institutes in the India. In October 2017, in order to boost the Skill India mission, two new schemes, SANKALP and STRIVE were launched with an outlay of Rs 6,655 crore (US$ 1.02 billion). Revitalising Infrastructure and Systems in Education (RISE) by 2022 was announced in union budget 2018-19 with an outlay of Rs 1 lakh crore (US$ 15.44 billion) for four years. Skill India program has benefitted more than one crore (10 million) youth annually. Under the Union Budget 2019-20, government provided Rs 400 crore (US$ 57.23 billion) for ‘World Class Institutions.’
Education sector in India remains to be a strategic priority of the government. The Government of India has allowed 100 per cent Foreign Direct Investment (FDI) in the education sector through the automatic route since 2002.The sector has received cumulative FDI worth Rs 17,262.83 crore (US$ 2.47 billion) up to March 2019. Indian education sector witnessed 18 merger and acquisition deals worth Rs 342.4 crore (US$ 49 million) in 2017. In May 2018, the Ministry of Human Resource Development, Government of India launched Samagra Siksha scheme with the aim of achieving holistic development of school education in the country. As per Government of India, New National Education Policy to transform India’s higher education system to one of the global best education systems very soon. In August 2019, Maharashtra International Education Board (MIEB) has signed a collaboration agreement with Google India
The Government of India is working on the draft of the New Education Policy to address the changing dynamics in the education industry of the country as per the requirement of the population. According to Mr Prakash Javadekar, Minister of Human Resource Development, Government of India, New National Education Policy draft is ready and would be given to the central government. Institutions of national importance', NIDs will have rights that they will be able to establish public-private partnerships and collaborate with research labs across the country. As per the Union Budget 2019-20, under the Pradhan Mantri Gramin Digital Saksharta Abhiyan (PMGDISHA), over 2 crore rural Indians have been made digitally literate.