Education
India holds an important place in the global education industry. The country has more than 1.4 million schools with over 227 million students enrolled and more than 36,000 higher education institutes. India has one of the largest higher education systems in the world. However, there is still a lot of potential for further development in the education system.
India has become the second largest market for e-learning after the US. The sector is currently pegged at US$ 2-3 billion, and is expected to touch US$ 40 billion by 2017. The distance education market in India is expected to grow at a Compound Annual Growth Rate (CAGR) of around 34 per cent! during 2013-14 to 2017-18. Moreover, the aim of the government to raise its current gross enrolment ratio to 30 per cent by 2020 will also boost the growth of the distance education in India.
Higher education system in India has undergone rapid expansion. Currently, India's higher education system is the largest in the world enrolling over 70 million students while in less than two decades, India has managed to create additional capacity for over 40 million students. At present, higher education sector witnesses spending of over Rs 46,200 crore (US$ 6.78 billion), and it is expected to grow at an average annual rate of over 18 per cent to reach Rs 232,500 crore (US$ 34.12 billion) in next 10 years.
India's education sector offers a great opportunity with approximately 29 per cent of India's population being between the age group of 0-14 years. The schooling segment in India is anticipated to be around US$ 144 billion by 2020 from an estimated US$ 95.8 billion in 2015. In 2014, with 29.63 million students and approximately 48,116 colleges and institutions, India's higher education segment is the largest in the world. It is expected to increase to US$ 37.8 billion by 2020.
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