India plays a significant role in the global education industry. On the one hand, the country has one of the largest networks of higher education institution in the world. On the other hand, the potential for further development in the education system is enormous.
Market Size of India
The total population of India is about 1.33 billion inhabitants. Of these, around 500 million represent the 5-24 age group. These figures show great prospects withing the education sector.
- The education sector was estimated at USD 91.7 billion in 2018 and is expected to reach USD 101.1 billion in 2019.
- From 2017 to 2018, the number of colleges in India was 39,050 and the number of universities 903. In the same period, India had 36.64 million students enrolled in colleges. The Gross Enrolment Ratio (GER) in higher education reached 25.8 %.
- India has become the second largest E-learning market after the USA. This market is expected to reach USD 1.96 billion and 9.5 million users by 2021.
In 2030, it is estimated that India will achieve the following:
- Have a augmented Gross Enrolment Ratio (GER) of 50%. This will also boost the growth of distance education.
- Reduce governmental, gender and social disparity in Gross Enrolment Ratio (GER) to 5%.
- With an annual R & D spend of USD 140 billion, be amongst the global top five countries in the world in terms of research output.
- India wants to have more than 20 universities among the global top 200.
- India wants to adopt transformative and innovative approaches in higher education.
- Evolving into one of the largest providers of global talent, with one in four graduates in the world being a graduate of an Indian higher education system.
In addition, various government initiatives are being adopted to boost the growth of the distance education market. The focus is on new educational techniques such as E-learning and M-learning.
Further, the education sector has seen a host of reforms and improved financial outlays in recent years that could potentially transform the country into a ‘knowledge haven’. Given the increasing significance of human resources in the overall development of the country, it is expected that the expansion of educational infrastructure will remain the key focus in the current decade. In this scenario, infrastructure investments in the education sector are expected to increase significantly in the current period.
Besides, the Indian government has taken several steps, including the opening of IIT’s (Indian Institute of Technology) and IIM’s (Indian Institute of Management) in new locations. Further, educational grants for research scholars have been allocated in most government institutions. Through online modes of education, which are used by several educational organisations, the higher education sector in India is set for major changes and developments in the years to come.
Want to find out more? The annual exhibition Didac India, partner event of Worlddidac Association, offers a myriad of options to gather more understanding about India’s boundless prospects for further growth in the education system. Our Business Exchange Club at this event should not to be missed, as it will give you the opportunity to connect with educational dealers and distributors from the region.
Source: IBEF India Brand Equity Foundation Ι statista