India’s education sector is a great pool of opportunities with approximately 29 per cent of India’s population being between the age group of 0-14 years. The schooling segment in India is anticipated to be around US $144 billion by 2020 from an estimated US$ 95.8 billion in 2015. In 2014, with 29.63 million students and approximately 48,116 colleges and institutions, India’s higher education segment is the largest in the world. It is expected to increase to US$ 37.8 billion by 2020. India has become the second largest market for e-learning after the US. The sector is currently pegged at US $2-3 billion, and is expected to touch US$ 40 billion by 2017. The distance education market in India is expected to grow at a Compound Annual Growth Rate (CAGR) of around 34 per cent! during 2013-14 to 2017-18
According to data released by Department of Industrial Policy and Promotion (DIPP),the total amount of Foreign Direct Investments (FDI) inflow into the education sector in India stood at US $1,209.40 million from April 2000 to December 2016, PMKVY is the flagship program under the Skill India Initiative and it includes incentivising skill training by providing financial rewards on completion of training to the participants. Over the next year 2.4 million Indians are believed to be benefited from this scheme. National Policy for Skill Development and Entrepreneurship 2015 is India’s first integrated program to develop skill and promote entrepreneurship simultaneously. Various government initiatives are being adopted to boost the growth of distance education market, besides focusing on new education techniques, such as E-learning and M-learning.
References: Media Reports, Press Releases, Press Information Bureau, RNCOS Report, Department of Industrial Policy and Promotion (DIPP), Union Budget 2016-17