Author : EnrolmentDesk
India, June 2015. Education sector in India is set to cross $600 billion this year and is one of the major employment generators in this country. Education in India is also poised to cross the developed countries in terms of numbers in the coming years. What is really cooking here and what are the trends that would decide the future of millions in this country?
- Rapidly growing numbers: In a recent report by Ernst & Young, the number of institutes offering higher education in India is 44, 668. This is the case as the number of students opting to pursue higher education in India is constantly on the rise. This must be great news to educational institutes as they would witness whopping number of admissions.
- Public to private shift: The past decade has seen the emergence of many private universities and their active participation in the education sector has indeed created more opportunities. There is also more emphasis on vocational courses as the scope of employability for these courses has increased a lot. The challenge for private educational institutions is to provide higher education to growing population and at the rate at which we are growing, educational institutes need to double in number.
- Digitization of education: A few decades ago, the academic year used to start with parents and children waiting for textbooks to be printed and often there would be shortage of textbooks. Now, with advancements in technology, we might have a scenario where paper textbooks would be totally phased out. In a few years, we might witness a total digitization of textbooks. Right now, there are many government initiatives for E-learning majorly taken up by National Programme on Technology Enhanced Learning (NPTEL) focussing on online courses and virtual classrooms.
- More players entering education sector: This is a continuation of private players dominating new models of education. Big players like IBM have partnered with Pearson India to offer an E-learning program that consists of 22,000 classrooms across India. Many communication firms like Airtel Digital TV, Digicable, and Siticable would broadcast lectures by professors for Da Vinci Learning.
- Foreign Funding: Many private universities have attracted investments from foreign investors. It is estimated that $ 962.8 million has been pumped into private universities by foreign investors during 2000-2014. As investment opportunities look very lucrative in the educational sector many foreign universities are trying to establish themselves in India. It must also be noted that this was an initiative by Government Of India to allow 100% foreign direct investments in educational sector. Private equity firms and foreign companies have specific interest in Indian education considering the vast talent resources it has to offer.
The landscape of Indian educational sector is changing rapidly; however, the exercise is always to catch up with the demands of growing population and the industries. If one considers the case of the top 10 degree colleges in India, the number of seats have not increased but the number of applicants have increased drastically. This to some extent is believed to be good to maintain standards. If there are more number of IITs and IIMs there is fear that purpose would be diluted.
In the case of play schools, primary secondary, and higher secondary schools the case is slightly different. More schools are welcome here with more private players concentrating on II-tier cities and rural areas. With good funding they can certainly make a huge difference setting up schools in these areas. The concept of play schools is not an old one and yet we see that the best play schools are concentrated in metros. With more work done in primary and secondary schools one can be optimistic that there would certainly an increase in the number of students enrolling in graduate and postgraduate colleges in India.