Education Sector
Overview
India has 850 universities and 42,000 colleges - the largest network of higher education institutions in the world. Despite the largest availability of colleges and universities, 553,000 Indian students are currently studying in ~86 different countries, with the USA and Canada being the dominant locations. The education sector is expected to witness double-digit growth rates due to the Indian Government’s emphasis to increase the enrolment ratio to 30% by 2020.
Majority of the Indian students studying in foreign countries undertake their graduate and post-graduate courses from universities in North America. Out of 553,000 students, ~38% study in North America.
Currently, India’s higher education system is the largest in the world, enrolling about 70 million students. In less than two decades, India has managed to create additional capacity for over 40 million students. By 2025, this segment is expected to reach ~USD 35 billion in value. With the rapid growth in technology and adoption of innovative ways of teaching, India has become the 2nd largest market for e-learning after the USA. Indian student mobility has historically been tied to work potential, and to perceptions of safety factors which has made the USA, Canada, and the UK as key overseas education destinations for Indian students.
Growth Drivers
- India currently has amongst the highest student population worldwide in the age group between 18-23.
- A steep rise in the GER (Gross Enrolment Ratio) in the past 15 years can be attributed to a rise in the private sector education in India. The private sector accounted for ~60 percent of enrolment in higher education in India.
- Indian middle class which is estimated at 70 million households is expected to reach 100 million by 2020. Education accounts for the 2nd highest spend of wallet after food for the Indian middle-class household.
Major Courses Opted by Indian Students to Study Abroad
- STEM (Science, Technology, Engineering and Mathematics)
- Medicine
- Literature
- Research fellowship: Science and Technology
- Finance and Management
Top 5 countries contribute to 85% of student mobility from India. They are United States, United Kingdom, Australia, New Zealand and Canada
Market Statistics
- Indian Education market was valued at USD 100 billion in 2016. The industry is expected to reach USD 180 billion by 2020.
- India has become the 2nd largest market for e-learning after the USA. The sector with 9.5 million users is expected to reach USD 1.96 billion by 2021.
- India is the 2nd largest sender for several top emerging education destinations including the USA, Australia and Canada.
- There are about 553,000 Indian students studying in 86 different countries across the world.