EDUCATION SECTOR OVERVIEW
Statistics, news & updates: everything you need to know about the Education Industry in India
Summary/Snapshot
Education Industry
- Over the next two years, India’s E-commerce market will reach US$ 99 billion, growing at a 27% CAGR, with grocery and apparel likely to be key growth drivers.
- The Indian government’s ‘Digital India’ effort aims to establish a trillion-dollar online economy by 2025.
- In India, the online retail industry accounts for 25% of the entire organized retail market and is anticipated to grow to 37% by 2030.
- Market estimates indicate that Indian online grocery sales will reach $28.0 billion in 2024 from $1.9 billion in 2019.
- A significant increase of 87% was recorded by the Indian E-commerce market in the festive season of 2020, with *88 million users shopping online.
- The Indian government has established additional IITs and IIMs and made educational grants to research academics.
- Education India (India’s academic partner and a start-up) invested US$ 2.4 million in the School Acquisition Module in 2021 and intends to have over 200 schools on lease by 2023.
- NCERT and the Ministry of Education an alternate academic calendar for all students at home during the pandemic. Due to rising customer demand, Indian higher institutions are focusing on developing online programs.
Growth Drivers
- Due to growing internet penetration and a surge in the use of regional language apps, the Indian K-12 ed-tech market is expected to grow from US$ 265 million in 2019 to US$ 1.7 billion by 2022.
- A key driver for the Indian education business is rising disposable income and people’s willingness to pay for education.
Sub industries
- In India, 100 percent FDI (automatic route) is permitted in the education industry. The Indian government has introduced bills such as the Higher Education National Accreditation Regulatory Authority Bill and the Foreign Educational Institutions Bill.
Opportunities
- With 580 million people aged 5 to 24, India is the world’s largest population, presenting a great opportunity in the education industry.
- The British Asian Trust has launched a US$ 10 million Development Impact Bond to support education to India’s marginalized children.
Challenges
- In India, university, professional, and technical education have become extremely expensive.
- Education spending has been declining in Five Year Plans. Most educational institutions lack infrastructure, science equipment, and libraries, among other things, due to a lack of money.
- Primary and secondary school dropout rates are extremely high. The majority of students in the 6-14 age range drop out of school before finishing their education. It results in the wasting of both financial and human resources.
- The education business is confronted with issues such as mass illiteracy, outdated curriculum, and elementary education issues.
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Key Investment Opportunities
In 2030, it is estimated that India’s higher education will:
- Combine training methods that involve online learning and games, and is expected to grow 38% in the next 2-4 years
- Adopt transformative and innovative approaches in Higher learning
- Have an augmented Gross Enrolment Ratio (GER) of 50%
- Reduce state-wise, gender-based, and social disparity in GER to 5%
- Emerge as the single largest provider of global talent with one in four graduates in the world is a product of the Indian higher education system
- Be among the top five countries in the world in terms of research output with an annual R&D spend of US$ 140 billion
- Have more than 20 universities among the global top 200 universities
Recent Development
In 2030, it is estimated that India’s higher education will:
- Combine training methods that involve online learning and games, and is expected to grow by 38% in the next 2-4 years.
- Reduce state-wise, gender-based and social disparity in Gross Enrolment Ratio (GER) to 5%.
- Be among the top five countries in the world in terms of research output with an annual R&D spend of US$ 140 billion.
- Have more than 20 universities among the global top 200 universities.
Key Players in India
National
- Delhi University
- IIT’s
- Birla Institute of Technology
- Indian School of Business
- Delhi Public School
- Zee Learn Limited
- Educomp Solutions
- NIIT Limited
- Byju’s
International
- Udemy
- University of Michigan
- University of Cambridge
- Imperial College
- Yale University
- Udacity
- Coursera
- iTutor Group
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