India holds an important place in the global education industry. In this article, we’ll discuss about ‘why Academic Innovation is a must for India?‘
A total of 35.7 million people were enrolled in higher education institutes in 2016-17. However, there is still a lot of potential for further development in the education system.
As per the Education & Training Industry in India :
- India has 850+ operational universities & 42,026+ colleges as of April 2018.
- With both the Government and the private sector stepping up to invest in the Indian education sector, the number of schools and colleges have seen an uptrend over the past few years
- Government’s initiative to increase awareness among all sections of the society has played a major role in promoting higher education among the youth.
- Total number of agricultural universities in the country increased from 35 in 1999 to 75 in 2017.
- There has been a significant increase in the share of the state private universities as part of total universities from 3.43 per cent in 2008-09 to 34.82 per cent as of April 2018.
- As of April 2018, India has 384 state universities, 123 deemed to be universities, 47+ central universities and 296 private universities.
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. By 2025, the segment is expected to reach US$ 35.03 billion.
The education sector in India is estimated at US$ 91.7 billion in FY18 and is expected to reach US$ 101.1 billion in FY19E. The country has become the second largest market for e-learning after the US. The sector is expected to reach US$ 1.96 billion by 2021 with around 9.5 million users.
In 2030, it is estimated that India’s higher education will:
- Adopt transformative and innovative approaches in both Elementary & Higher education.
- Have an augmented Gross Enrollment Ratio (GER) of 50%.
- Reduce state-wise, gender based and social disparity in GER to 5%.
- Emerge as a single largest provider of global talent, with one in four graduates in the world being a product of the Indian higher education system.
- Be among the top 5 countries in the world in terms of research output with an annual R&D spent of US$ 140 billion.
- Have more than 20 universities among the global top 200.
Various government initiatives like, Skills Acquisition and Knowledge Awareness for Livelihood Promotion (SANKALP), Skill Strengthening for Industrial Value Enhancement (STRIVE), Atal Tinkering Labs, Ek Bharat Shreshtha Bharat (EBSB) & Kaushal Bharat, Kushal Bharat etc. are being adopted to boost the growth & quality of education sector in India.
Stay tuned for more.
Team AU (Admission Uncle)
References: IBEF, Media Reports, Press Releases, Press Information Bureau, RNCOS Report, Department of Industrial Policy and Promotion (DIPP)