India is the second largest market for E-learning after the US. The Covid lockdown has further contributed to the growth of E learning with schools, colleges and educational institutions closed across the country
The sector is expected to reach US$ 1.96 billion by 2021 with around 9.5 million users. India holds an important place in the global education industry and has one of the largest networks of higher education institutions in the world. About 26.31% of India’s population are in the age group of 0-14 years, hence India’s education sector provides numerous opportunities for growth.
Number of universities in India reached 967 in FY21. India had 37.4 million students enrolled in higher education in FY20 . Gross Enrolment Ratio in higher education reached 26.3% in FY20.
In 2020-21, there were 9,700 total AICTE approved institutes. Of the total, there were 4,100 undergraduate, 4,951 postgraduate and 4,514 diploma courses in AICTE approved institutes.Industry Investments
From April 2000 to September 2020, Foreign Direct Investment (FDI) equity inflows into the Indian Education industry stood at US$ 3,849.20 million according to the data released by Department for Promotion of Industry and Internal Trade (DPIIT).
According to the Indian Union Budget 2021-22, the government allocated Rs. 54,873.66 crore (US$ 7.53 billion) for
Department of School Education and Literacy, compared with Rs. 59,845 crore (US$ 8.56 billion) in Union Budget 2020-21.
The government allocated an expenditure budget of Rs. 38,350.65 crore (US$ 5.28 billion) for higher education and Rs. 54,873
crore (US$ 7.56 billion) for school education and literacy.
The government also allocated Rs. 3,000 crore (US$ 413.12 million) under Rashtriya Uchchatar Shiksha Abhiyan (RUSA).
The Indian government has placed major emphasis on strengthening the country’s digital infrastructure for education
bysetting up the National Digital Educational Architecture (NDEAR) as well.