India occupies a significant position in the education industry globally with largest networks of higher education institutions. However, for further development in education system there is still a lot of potential.
Market size in india provides good and great opportunity for education sector. In the sense, india's population includes 500 million in between age group 5 - 24 years(students)
The 2020-21 statistics revealed, 9,700 AICTE approved institutes. Of which 4,100 undergraduate, 4,951 postgraduate and 4,514 diploma courses in institutes. According to Department for Promotion of Industry and Internal Trade (DPIIT) reports, from April 2000-September 2020, Foreign Direct Investment (FDI) equity stood at US$ 3,849.20 million inflow.
Major investments and developments in the recent past witnessed by education and training sector in India are:
- In December 2020: ‘Industry 4.0 Hands-on Skill Learning Centre’ located at IMT Manesar, Gurgaon in Haryana.
- In December 2020: ‘SAKSHAM’ to boost employment opportunities in diverse sectors.
- In December 2020: 'IGnITE' which aims to develop future ready highly trained technicians, based on the German Dual Vocational Educational Training (DVET) model. By 2024, it visions to upskill ~40,000 employees.
- In December 2020: IIT Alumni Council will launch the ‘India Empowerment Fund’ Rs. 50,000 crore (US$ 6.80 billion) over the next 10 years to build a strong research ecosystem.
