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Tracing the growth of education and training industry in India over the years

HomeEducationalTracing the growth of education and training industry in India over the...

India holds a prominent position in the global education industry. With more than 800 universities and 40,000 colleges, the country boasts of having one of the largest networks of higher education institutions in the world, with a large and growing population to cater to. To address the education requirements, India has followed a student-centric system of education, which has enhanced its learning outcomes manifold.

Drawing investments from both the government as well as the private sector, the Indian education sector has seen a major uptrend in the number of schools and colleges. The number of agricultural universities has also increased by 40 and surged to 75 in 2017.

As per the Department of Industrial Policy and Promotion (DIPP), the total amount of Foreign Direct Investments (FDI) inflow into India’s education sector stood at $ 1.67 billion from April 2000 to December 2017.

With more than 70 million students getting enrolled in less than two decades, the Indian education system has established itself as the leader in this space. It has also managed to create an additional capacity for over 40 million students. Surging with the same pace, the industry is expected to reach $ 35.03 billion in the upcoming years.

In addition to the growth of conventional education, India has also emerged as the second largest market for e-learning after the US. It spans over a network of more than 1 million schools and 18,000 higher education institutions. The market is estimated to witness approximately 8x growth in the next 5 years. This is sure to have a major impact on the country’s ed-tech market, which has a potential to hit $1.96 billion by 2021, with more than 9 million users.

A lot has changed over the last few decades wherein several domestic and international players have made their presence felt in the edtech industry.

Ventures like Educomp Solutions by Shantanu Prakash, Three Rivers Systems by Amir Tajkarimi, Adobe Systems by Shantanu Narayen have been instrumental in expanding the horizons of India’s e-learning segment significantly.

The growth of edtech could be attributed to Educomp Solutions, back in early 90s when it leveraged the benefits of technology in education, and launched its flagship ‘Smartclass’, a digital content library of curriculum-mapped, multimedia content in 2004.

At present, it has reached more than 12,000 schools across 560 districts in India. The company also has a striking success rate growing with almost 20 schools a day. The precedence of schools accepting technology to teach their students has further created a scope for app-based methodologies in the market where market players such as BYJUs are creating an impetus for schools and students to follow suit.

With students and educators embracing the convenience, expediency, and agility offered by technology-led learning, it has garnered large-scale acceptance across the country. This has further given birth to a number of ventures propounding online education.

However, despite the progress, there still lies a lot of scope for further development in the country’s education system. The government looks forward to increase its present Gross Enrolment Ratio (GER) to 30 per cent by 2020. This will further promote distance education in the country.

Furthermore, the adoption of online modes of education by a number of educational organisations will also entail a series of change and developments in the years to come.

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