India overtakes US in education spend with USD 600 bn
According to a research, India has surpassed the US in terms of education expense, reported Zee News. India spends USD 600 billion in education and the private education segment alone is estimated to increase by USD 10 billion by 2015 from the present USD 35 billion, says the report by Investor Relation Society, affiliated to Global Investor Relations Network based out of the US.
The report reveals that skill and vocational training are a major source for various opportunities. According to M S Anand, president, Investor Relation Society, India has a vast education network that comprises one million schools and 20,000 higher-education institutes. Based on this statistics, it is estimated that the market size of the Indian education system stands at USD 45 billion.
More than two lakh Indian students migrating abroad for higher studies every year contribute as much as USD 5 bn to foreign universities. As a result, various foreign institutes are making their way into India which might enhance the quality of education in the country. The expected growth of the Indian education sector will broaden the success horizons for smaller companies and also open new gateways for new players. (Read more)
Anand feels that the Indian education system is restricted by various regulations governed by both central and state governments, where the government decides the curriculum, eligibility criterion, and the fee structure. Dividing the Indian education industry into formal and informal segments, the latter including pre-school, vocational training and online training, remains an unregulated segment as of now. (Read more)
