India Has The Largest K-12 Education System In The World.

India has nearly 40,000 colleges

Indian education sector is valued at US$ 101.1 billion

US$ 180 billion by the beginning of 2022

Govt. allotted US$ 8.56 billion for School Education and Literacy in the Union Budget of 2020–21

US$ 500 million by the end of 2019 in private equity and venture capital funding

20 universities among the global top 200 universities by 2030

Second largest market for E-learning after the US

This Industry will cross US$ 200 billion by 2022

At 260 million enrolments and an equivalent number of potential candidates, the country has the largest K-12 education system in the world. With more than 500 million people in the age bracket of 5-24 years, India holds great opportunities for the education sector.

To harness this untapped potential, the Indian Government has allocated US$ 8.56 billion for the Department of School Education and Literacy in the Union Budget of 2020–21. The education sector attracted US$ 500 million by the end of 2019 in private equity and venture capital funding.

With 39,931 colleges and 993 deemed universities, India is one of the largest hubs for higher education in the world. By 2030 India will have more than 20 universities among the global top 200 universities.

India has become the second-largest market for E-learning after the US. The sector is expected to reach US$ 1.96 billion by 2021 with around 10 million users. The digital shift of the world industry has triggered a plethora of e-learning platforms. Most of them offer a diverse portfolio of certified courses and diploma programs including higher education options.

The Edu-tech market in India received investments worth nearly US$ 1.5 billion in the first nine months of 2020. By 2022, the Edu-tech market in the country is projected to be valued at US $ 3.5 billion. BYJU’s has become the top e-learning platform in the edtech sector, with a raised capital of US$ 1.12 billion.

Mobile internet in India is expected to reach 85% of households by 2024, enabling access to online education even in the remotest parts of the country. To promote e-learning, the Ministry of Education has commissioned 34 educational TV channels, covering educational content for schools and higher educational institutions.

September 2020 also saw the establishment of an independent “School of Artificial Intelligence (ScAI)” in the Indian Institute of Technology (IIT) Delhi campus to offer postgraduate and PhD courses. The School of Artificial Intelligence aims to become the one-stop centre for industry participants and the Government for AI innovation, funding and collaborations. Artificial intelligence has also been introduced as a subject in class ninth from the 2019–20 session by the Central Board of Secondary Education.

Education is among the most productive sectors to make investments in. In this regard, some developments in the sector are reflected in the following facts:

  • The Government has allowed 100% FDI in the education sector under the automatic route. The total amount of Foreign Direct Investment (FDI) inflow into the education sector in India stood at US$ 3.29 billion between April 2000 and June 2020.
  • A Memorandum of Agreement (MoA) signed between Tata Technologies Ltd. and the Karnataka government, with an investment of US$ 631.90 million and for a period of 10 years, solidifies the plan to upgrade and modernize 150 government Industrial Training Institutes (ITIs) in the state to provide standard training for ‘Industry 4.0.’
  • LinkedIn and National Skill Development Corporation (NSDC) have joined hands to provide free resources to upskill young professionals in the country and encourage the spread of Digital-skills acquisition by creating a future-ready digital workforce.
  • On September 25, 2020, National Medical Commission (NMC) was constituted in place of the Medical Council of India (MCI) as the country’s apex regulator of medical education and training.
  • National Fertilizers Limited, a PSU under the Fertilisers department has partnered with the Raghogarh (MP) Industrial Training Institute (ITI) to train young people in various careers and increase their employability opportunities in heavy and process industries.
  • Launched as a YouTube channel in 2010, Unacademy is now an established name in the education technology segment. One of the most popular e-learning startups in India, Unacademy has provided lessons to more than 30,00,000 (3 million) students to date. It has tied up with some of the most experienced teachers and offers over 2400 online courses. Most of the courses are free on this platform.
  • This industry is expected to cross US$ 200 billion by 2022, the Education Sector in India represents the aspiration of over a billion people yearning to better their station in life, secure livelihoods and contribute to making the world a better place to live in.