The Indian higher education sector will continue to grow at a scorching pace, thereby inviting domestic as well as international investors. While the formal education sector will move steadily, there is also tremendous potential in the thriving informal sector comprising vocational training, tutoring, distance learning, etc.
There are close to 44,000 colleges in India and over 1100 universities. This is a marked improvement from independence, when there were 500 colleges and 20 universities. India’s growing population, increased percentages of middle-income households, and surge in the participation of women in the workforce are naturally driving the demand for quality higher education.
There are close to 255 million Indians in the age group of 15-25. Today India is the most populous country in the world, surpassing China. This also entails a growing demand for higher education.
Increasingly Indians are now understanding the importance of education and how it can be a major tool in transforming the lives of households. Families are now giving a lot of attention to the proper education of their children.
The Indian government also understands how critical is education in bridging the gap in society, bringing millions of households out of poverty, improving overall economic efficiency, and creating a modern society. The government both at the center and state levels is taking stronger initiatives to boost the education sector, vitalize the infrastructure, and simplify the policies.
As the Indian economy is relentlessly transforming into a knowledge-based economy, there is an accelerated demand for higher education streams such as technology, medical science & dentistry, law, business studies, etc. Likewise, other streams such as science, humanities, media & journalism, accountancy, etc. are witnessing increased demand.
India has also unveiled the national education policy in 2020, with an objective to restructure both school level as well as higher education. New education policy is a constructive step towards bridging the gap between Indian and international education. It emphasizes a lot on changing the existing curriculum and making it more job and growth-centric. It encourages interdisciplinary and multidisciplinary education with heightened freedom of choice from multiple subjects and streams.
100% FDI has also been allowed in the education sector in India to lure international universities and education management companies to set up in the country.
Increasingly governing authorities are reaching out to top international universities and institutes to set up their center in India. The top foreign universities that will establish in India will operate as autonomous institutes and can choose their curriculum and teaching content accordingly.
With more international universities coming to India, students won’t need to visit foreign countries, Rather they can opt for high-quality education in India itself.
Overall the future of Indian education sector is bright and upbeat!
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