Mumbai, May 13 - At USD 600 billion, the education spending in India has surpassed that of the US and is growing by leaps and bounds, a research report said.
The education spend in India is at USD 600 billion and the private education segment alone is expected to cross USD 45 billion mark by 2015 from the present USD 35 billion, according to a research report prepared by Investor Relation Society, affiliated to US based Global Investor Relations Network.
The report said that skill and vocational training are fast throwing good amount of opportunities.
With an education network of more than one million schools and 20,000 higher-education institutes, the market size of the Indian education system is estimated at USD 45 billion, Investor Relation Society president M S Anand said.
A little over two lakh Indian students migrate overseas every year for higher studies. These students alone contribute to foreign universities as much as USD 5 bn every year.
Based on this observation, several foreign institutions are foraying into India. This is expected to boost the quality of education in the country, the report said.
The higher education in India shall soon witness a sea change, leading to a surge in the growth of education sector.
The sector may not only witness emergence of growth of small companies into gigantic organisations, but also lead to entry of new players.
These new players could be either technocrats as in the case of First Object Technologies Ltd or companies promoted by conglomerates like Zee. PTI