Education industry in India is set to cross $600 billion this year and is one of the important employment generators in this nation. Education in India is also set to cross the designed countries in conditions of figures in the arriving years. What is actually preparing here and what are the trends that would choose the future of large numbers in this nation?
Fast growing statistics: In the latest report by Ernst & Young, the variety of institutes providing higher education in India is 44, 668. This is the scenario as the variety of students choosing to engage in higher education in India is regularly on the rise. This need to be great news to educational institutes as they would observe the whopping number of admission.
Public to private shift: The past several years has seen the appearance of many private colleges and universities and their active contribution to the education industry has indeed created more opportunities. There is also an additional emphasis on professional courses as the opportunity of employability for these programs has improved a lot. The challenge for private educational institutions is to offer higher education to rising inhabitants and at the rate at which we are increasing, educational institutes require to dual in number.
Digitization of education: A few years ago, the academic year utilized to start with mom and dad and children waiting for guides to be printed out and often there would be the shortage of text book. Now, with enhancements in technology, we may have a situation where paper text book would be fully phased out. In a few years, we might observe a total digitization of books. Right now, there are many govt projects for E-learning majorly used up by National Programme on Technology Enhanced Learning (NPTEL) focusing on online courses and virtual classes.
More players entering education industry: This is an extension of private participants dominating new types of education. Big participants like IBM have joined with Pearson India to offer an E-learning system that comprises of 22,000 classrooms across India.
Foreign Funding: Many private colleges and universities have drawn investments from foreign traders. It is approximated that $ 962.8 million has been moved into private universities by international investors throughout 2000-2014. As investment possibilities look very beneficial in the educational industry many foreign educational institutions are attempting to establish independently in India. It must also be observed that this was an effort by Government Of India to allow 100% foreign direct investments in the educational industry. Private equity firms and foreign organizations have the specific attention in Indian education thinking about the vast talent options it has to offer.
The landscape of Indian education industry is transforming rapidly; however, the training is usually to catch up with the requirements of growing human population and the sectors. If one thinks about the case of the leading 10-degree colleges in India, the number of seats have not improved but the variety of applicants has increased significantly. This to some level is considered to be good to manage standards. If there are a number of IITs and IIMs there is concern that purpose would be diluted.
In the case of play schools, primary secondary, and higher secondary schools the scenario is slightly different. More schools are encouraged here with more private players focusing on II-tier cities and rural parts. With good funding, they can definitely make a huge change setting up schools in these locations. The idea of play schools is not an old one and still, we see that the best play schools are focused in cities. With more work performed in primary and secondary schools, one can be positive that there would absolutely an increase in the variety of students applying to graduate and postgraduate universities in India.