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India holds an important place in the global education industry. India has one of the largest networks of higher education institutions in the world. However, there is still a lot of potential for further development and improvement in the education system.

With almost 27% of India’s population in the age group of 0-14 years, India’s education sector provides numerous opportunities for growth.

India has the world’s largest population in the age bracket of 5-24 years of about 500 million people, which provides a great growth opportunity for the education sector. The education sector in India was estimated to be worth US$ 117 billion in FY20 and is expected to reach US$ 225 billion by FY25.

In 2021-22, there were 8,997 total AICTE approved institutes in India. Out of these 8,997 institutes, there were 3,627 undergraduate, 4,790 postgraduate and 3,994 diploma institutes.

According to KPMG, India has also become the second largest market for E-learning after the US.

The online education market in India is expected to grow by US$ 2.28 billion during 2021-2025, growing at a CAGR of almost 20%. The market grew by 19.02% in India in 2021.

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.
  • Adopt transformative and innovative approaches in higher education.
  • 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 being 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.

Various government initiatives are being adopted to boost the growth of the distance education market, besides focusing on new education techniques such as E-learning and M-learning.

The Government of India has taken several steps including opening of IIT’s and IIM’s in new locations, as well as allocating educational grant for research scholars in most government institutions. Furthermore, with online mode of education increasingly being used by several educational organisations, the higher education sector in India is set for major change and development in the years to come.