Indian Education System is one of the largest in the world with more than 1.46 Mn schools and 230 Mn students participating in modern KG to 12 education.
The Number of colleges in India reached 49,385 in FY24 (as of September 13, 2023) and 43,796 in FY21, up from 42,343 in FY20. The number of universities in India reached 1,196 in FY24 (as of September 13, 2023), up from 760 in FY15.
It is estimated to be worth $117 Billion and is expected to reach $313 billion by FY2030.
Edtech Trends Reshaping Learning Landscapes in India
The Indian edtech market size is expected to reach US$ 30 billion by 2031, from US$ 700-800 million in 2021. Indian edtech startups have received an investment of US$ 3.94 billion across 155 deals in FY’22.
The rapid expansion of the online upskilling market, set to reach $2,040 million by 2025. Working professionals are driving this trend, seeking opportunities for skill enhancement.
Tech-enabled courses, particularly in data sciences and industry 4.0 domains, dominate the edtech landscape. These courses cater to diverse learner segments, addressing the evolving needs of students and professionals alike.
The online education sector in India is growing rapidly, with growth of US$ 2.28 billion expected during 2021-2025, at a CAGR of almost 20%. Higher education institutes in India are focusing on creating online programmes due to the increasing demand from consumers.
From April 2000-September 2023, Foreign Direct Investment (FDI) equity inflow in the education sector stood at US$ 9.44 billion, according to the data released by the Department for Promotion of Industry and Internal Trade (DPIIT).
India’s large English-speaking population allows easy delivery of educational products.
Amazon launched its global computer science education initiative in India. The aim of this initiative was to offer one lakh students the opportunity to study computer science. Amazon India also launched the second edition of Machine Learning (ML) Summer School, with the aim to provide students the opportunity to learn important ML technologies from Amazon scientists, making them ready for careers in science.
To liberalise the sector, the Government has taken initiatives such as the National Accreditation Regulatory Authority Bill for Higher Educational and the Foreign Educational Institutions Bill. The government schemes of Revitalising Infrastructure and System in Education (RISE) and Education Quality Upgradation and Inclusion Programme (EQUIP) are helping the government tackle the prominent challenges faced by the education sector.
The National Education Policy (NEP), has a plan of set up regional and national institutes for virology, >15,000 schools, 100 new Sainik schools, and 750 Eklavya model residential schools in tribal areas.
The National Commission for Women started a country-wide capacity-building and personality development programme for women undergraduate and postgraduate students in an effort to make them more independent and job-ready. The commission will partner with central and state institutions to prepare women students for the job market by providing sessions on personal capacity building, professional career skills, digital literacy and effective use of social media.
The education sector has seen a host of reforms and improved financial outlays in recent years that could possibly transform the country into a knowledge haven. With human resources increasingly gaining significance in the overall development of the country, the development of the country’s education infrastructure is expected to remain the key focus in the current decade.
ABARIS Universal Ventures 