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Last Updated: September 19, 2018
Chairman, National Skills Development Agency
Latest update: June, 2018
Notes: CAGR - Compound Annual Growth Rate. * As on April 12, 2018
Source: UGC, PWC, AISHE 2016-17
Last Updated: June, 2018
India holds an important place in the global education industry. India has one of the largest networks of higher education institutions in the world with 850 universities (as of April 2018) and 42,026 colleges. A total of 35.7 million people were enrolled in higher education institutes in 2016-17. However, there is still a lot of potential for further development in the education system.
Moreover, the aim of the government to raise its current gross enrolment ratio to 30 per cent by 2020 will also boost the growth of the distance education in India.
The education sector in India is poised to witness major growth in the years to come as India will have world’s largest tertiary-age population and second largest graduate talent pipeline globally by the end of 2020. The education sector in India is estimated at US$ 91.7 billion in FY18 and is expected to reach US$ 101.1 billion in FY19E.
Higher education system in India has undergone rapid expansion. Currently, India’s higher education system is the largest in the world enrolling over 70 million students while in less than two decades, India has managed to create additional capacity for over 40 million students. By 2025, the segment is expected to reach US$ 35.03 billion.
The country has become the second largest market for e-learning after the US. The sector is expected to reach US$ 1.96 billion by 2021 with around 9.5 million users.
The total amount of Foreign Direct Investments (FDI) inflow into the education sector in India stood at US$ 1.67 billion from April 2000 to December 2017, according to data released by Department of Industrial Policy and Promotion (DIPP).
The education and training sector in India has witnessed some major investments and developments in the recent past. Some of them are:
Some of the other major initiatives taken by the Government of India are:
In 2030, it is estimated that India’s higher education will:
Various government initiatives are being adopted to boost the growth of distance education market, besides focusing on new education techniques, such as E-learning and M-learning.
Education sector has seen a host of reforms and improved financial outlays in recent years that could possibly transform the country into a knowledge haven. With human resource increasingly gaining significance in the overall development of the country, development of education infrastructure is expected to remain the key focus in the current decade. In this scenario, infrastructure investment in the education sector is likely to see a considerable increase in the current decade
Moreover, availability of English speaking tech-educated talent, democratic governance and a strong legal and intellectual property protection framework are enablers for world class product development, as per Mr Amit Phadnis, President-Engineering and Site Leader for Cisco (India).
The Government of India has taken several steps including opening of IIT’s and IIM’s in new locations as well as allocating educational grants for research scholars in most government institutions. Furthermore, with online modes of education being used by several educational organisations, the higher education sector in India is set for some major changes and developments in the years to come.
Exchange Rate Used: INR 1 = US$ 0.015 as of March 30, 2018.
References: Media Reports, Press Releases, Press Information Bureau, RNCOS Report, Department of Industrial Policy and Promotion (DIPP), Union Budget 2018-19
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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