Indian Education System and Its Future
I was going through various white papers on Indian Education system and its future. Experts have predicted good times for Indian Education system. My colleague from Infosys/CTS has published a white paper on same. Here some excerpts from it:
1. There is a huge demand for up-gradation of education as India is expected to have a surplus of 47 million people in the working age group by 2020.
2. Indian education sector’s market size in FY12 was estimated to be Rs 341,180 crore (US$ 54.20 billion). The sector grew at a compounded annual growth rate (CAGR) of 16.5 per cent during FY05-FY12.
3. According to the Grant Thornton report, Education in India: Securing the demographic dividend, the K-12 sector, is expected to reach USD 50 billion in 2015 4. Consulting firm Technopak estimates that private education sector itself would grow to USD 70 billion by 2013 and USD 115 billion by 2018
5. Preparing for a New Paradigm in Indian Higher Education by Ernst & Young, the higher education sector in India is expected to witness a growth of 18% per annum until 2020. 6. The education sector in India is also considered as one of the major areas for investments as the entire education system is going through a process of overhaul, according to a report ‘Emerging Opportunities for Private and Foreign Participants in Higher Education’ by PricewaterhouseCoopers (PwC).
7. The Government of India has opened the doors for top foreign universities to set up campuses in the country and award degrees, giving Indian students the opportunity to study in global institutions
8. India’s first school under public-private partnership (PPP) is expected to come up in the next financial year with the central government finalizing the model concession agreement. A total of 2,500 such schools will be set up over the next few years at the cost of Rs 30,000 crore
You can read more about it on https://www.linkedin.com/pulse/good-times-indian-education-sector-gtm-strategy-srikanth-bikumandla
Of course these predictions were made during UPA Govt regime under Rashtriya Uchchatar Shiksha Abhiyan (RUSA) program. NDA Govt. too is keen on promoting the research in education sector. Now with above data, I can simply imply that if Govt. has a will, it can implement a robust system like SAP to centralise data and improve the reach of technology to each and every student. By doing so, Govt. can increase brand value of Indian Education System and can stop the outflow of money which students spends in other countries. This subject is vast and cant be concluded in single line. I am leaving it open for users to conclude.