August 16th, 2019
India is posed to be the next source for economic opportunity for the education industry.
Here are a few reasons why:
- With a population of over 1.3 billion, about half are less than 20 years old.
- In 2018, India’s education sector generated US$ 91.7 billion in revenues (source: India Brand Equity Foundation)
- Projected revenues for 2019: US$ 101.1 billion (source: India Brand Equity Foundation)
- Percentage of India’s Gross Enrolment Ratio (GER) in higher education in 2016-17: 25.2% (source: All India Higher Education Survey, Union Human Resource Development)
- Technology, such as the rise of affordable internet access, smartphone penetration, the use of digital solutions for education, recorded classroom videos, live-streamed instructions, e-books, online tests, and distance learning providing access to millions, the entry of Internet of Things (IoT) are among the many technological solutions empowering the education space.
- Rising disposable income helping parents to invest in edtech solutions to enhance their children’s learning experience.
- The Indian government has been supporting start-ups and education sector in the past 5-6 years. Campaigns like UDAAN (by CBSE), PRAGATI (by AICTE) and Skill India (by the Ministry of Human Resource Development) are all addressing aspects of education, from the gender gap, promotion of vocational education, and expanding access to schools and college for millions of students.
- The government’s policies are helping industry-academic partnerships to make education more relevant to the employment market and economy.
For more information, click here
The Academic Credentials Evaluation Institute, Inc. (ACEI), was founded in 1994 and is based in Los Angeles, CA, USA. ACEI provides a number of services that include evaluations of international academic credentials for U.S. educational equivalence, translation, verification, and professional training programs. ACEI is a Charter and Endorsed Member of the Association of International Credential Evaluators. For more information, visit www.acei-global.org.