India’s education sector offers a great opportunity with approximately 29% of India’s population in the age group of 0 to 14 years. Education sector in India is expected to reach US$ 180 billion in FY20. India’s higher education segment is expected to increase to Rs. 2,44,824 crore (US$ 35.03 billion) by 2025. India was ranked 34 among the 100 countries in English Proficiency Index 2019. Increasing internet penetration is expected to help in education delivery. As of December 2019, internet penetration in India reached 54.29%.
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 39,931 and 993, respectively, in FY19. India had 37.4 million students enrolled in higher education in 2018-19. Gross Enrolment Ratio in higher education reached 26.3% in FY19.
In 2020-21, there were 9,700 total AICTE approved institutes. Of the total, there were 4,100 undergraduate, 4,951 postgraduate and 4,514 diploma courses in AICTE approved institutes.
Education sector in India remains to be a strategic priority for the Government. The Government has allowed 100% Foreign Direct Investment (FDI) in the education sector through the automatic route since 2002. Total FDI inflow in India’s education sector stood at US$ 3.24 billion between April 2000 to March 2020 according to the data released by Department for Promotion of Industry and Internal Trade (DPIIT). In India, the edtech market is expected to reach ~US$ 3.5 billion by 2022; received investments worth ~US$ 1.5 billion in the first nine months of 2020, against US$ 409 million in entire 2019.
The Cabinet chaired by the Prime Minister, Mr Narendra Modi approved the National Education Policy 2020, making way for large scale, transformational reforms in both school and higher education sectors. The policy is built on foundational pillars of Access, Equity, Quality, Affordability and Accountability, and is aligned with the 2030 Agenda for Sustainable Development. According to Union Budget 2020-21, the Government has allocated Rs. 59,845 crore (US$ 8.56 billion) to the Department of School Education and Literacy. Revitalising Infrastructure and Systems in Education (RISE) by 2022 was announced in Union Budget 2020-21 at an outlay of Rs. 3,000 crore (US$ 429.55 million).
In October 2020, the union cabinet chaired by Prime Minister Mr. Narendra Modi approved implementation of the Strengthening Teaching-Learning and Results for States (STARS) project with a total cost of Rs. 5,718 crore (US$ 775.99 million); the project will also receive financial support worth US$ 500 million from the World Bank.
On November 6, 2020, Tata Technologies Ltd. entered into a Memorandum of Agreement (MoA) with the Karnataka government for 10 years with an investment of Rs. 4,636.50 crore (US$ 631.90 million) to upgrade and modernise 150 government Industrial Training Institutes (ITIs) in the state to provide standard training for ‘Industry 4.0.’
The Union Minister for Skill Development and Entrepreneurship, Dr. Mahendra Nath Pandey, and Mr. Barry O'Farrell, Australian High Commissioner, participated in a virtual meeting to operationalise and implement VET cooperation to promote development of occupational standards in order to strengthen cooperation in skill development and vocational education and training (VET) between India and Australia.
On November 4, 2020, India’s public broadcaster Prasar Bharati entered into an MoU with the Ministry of Electronics and Information Technology to launch 51 direct-to-home (DTH) education TV channels.
On October 16, 2020, Union Education Minister Mr. Ramesh Pokhriyal ‘Nishank’ launched the 'KAPILA' Kalam Program for IP (Intellectual Property) Literacy and Awareness Education campaign, which is likely to create awareness on patenting of inventions.
On October 16, 2020, Union Minister for Education, Mr. Ramesh Pokhriyal 'Nishank’, inaugurated two facilities—Innovation & Incubation Centre and Sports Complex—in IIT Jodhpur.
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