India is a significant player in the global education market. India has one of the most extensive networks of higher education institutions in the world. The educational system, on the other hand, still has a lot of room for improvement. With 26% of India’s population between the ages of 0 and 14, the education sector offers significant potential for development.
Size of the Market
India boasts the world’s largest population of people aged 5 to 24, with a population of around 500 million. As a result, This presents a huge opportunity for the education sector. The Edtech market in India is therefore predicted to grow from US$ 750 million in 2020 to US$ 4 billion by 2025.
In India, there were 39,931 colleges in the fiscal year 2019. As a result, the number of universities in India has risen to 981 as of May 17, 2021. India has 37.4 million students enrolled in higher education in the current fiscal year. In FY20, India’s higher education, therefore, had a Gross Enrolment Ratio of 27.1 percent. One of the world’s biggest national agricultural organizations is the International Centre for Agricultural Research (ICAR). It had 122 institutes and 67 agricultural universities distributed over India as of July 2021.
AICTE has approved around 9700 institutes in the year 2020-21. In AICTE recognized institutes, there were 4,100 undergraduate, 4,951 postgraduate, and 4,514 diploma programs. According to the National Institutional Ranking Framework, renowned Indian Institutes of Technology took seven of the top ten positions in the top ten institution rankings in 2020.
The Indian Institute of Science (IISc) in Bengaluru, 6 Indian Institutes of Technology (IITs), Delhi University, University of Mumbai, University of Calcutta, OP Jindal Global University in Sonipat, and BITS Pilani were among the top 500 universities in the QS employability rankings 2022.
Improvement of Infrastructure and Digitalization
26 million students enrolled in pre-primary schools across India by the year 2020-21. According to Census 2011 data, 26.53 million children in the age group 0-6 years have enrolled in pre-primary schools, which is higher than 18.57 million children in the age group 0-6 years reported during Census 2001.
- The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the Pradhan Mantri Vidya Lakshmi initiative for ‘Establishment of New Schools’ with a budget of Rs. 30,000 crore.
- In the next five years, more than 2 crore female students across the country will benefit by this program. As a result, it will fund the establishment of new schools as well as the conversion of current Government schools into Model Schools. With an emphasis on increasing educational quality, infrastructure, and technology application.
- The Indian government has announced plans to introduce Basic Digital Literacy in more than one lakh schools across the country during the 2019-20 academic year.
- According to reports, this will be accomplished by 30 thousand educational institutions providing digital literacy training to teachers so that they can educate students in a better way. In few years, approximately 33 lakh students across the country will benefit by this program.
- The Union Cabinet, headed by Prime Minister Modi, has approved a program under the Digital India Program. Providing Laptop cum Mobile Training (Laptops and Tablets) Free of Cost. ]
- More than 15 million students of class IX-XII in about thousands of schools across India is expected to benefit by this scheme. The Government has also approved the setting up of a Digital Literacy Mission. Every year, one district will be covered, with the goal of covering all 640 districts by 2022. Under this mission, students will be provided with tablets cum laptops, teacher training, and support for creating digital content.
- The Indian government has also announced plans of setting up 100 new Navodaya Vidyalayas (residential schools for gifted students) in the next three years.
- The government has also approved a proposal to extend the Navodaya Vidyalaya Scheme till Class XII. This will benefit around two lakh additional students per year.
India Brand Equity Foundation (IBEF): https://www.ibef.org