India’s Impending Growth in Education and Skills Market: A Report
The report, titled "Investing for Impact: Education, Skills and EdTech", talks about 10 disruptive investment ideas which can bring about a transformational change in the way Indians receive their education as well as post-education skilling and training facilitated and catalyzed by new-age educational and training technologies. According to the report with the pandemic contributing to an unprecedented jump in online education and job upskilling in the country, India will soon become a USD 313 billion online education market.
The report released by Aspire Circle, a not-for-profit forum promoting social leadership in India through fellowships and research points out ten ideas which have led forward an unprecedented rise in digital education. They are technology-enabled K-12 education, online test preparation platforms-led inclusion and affordability, supplemental and extra-curricular education, teacher training and development, affordable education loan platforms, the gig economy and unbundled micro-tasking, affordable student housing, innovative finance in education and skilling, micro and alternative credentials for employability skills, and social and emotional learning.
The research study reveals that India's education and skills market will grow double this decade, from USD 180 billion in 2020 to USD 313 billion in 2030, while creating five million incremental jobs and impacting 429 million learners. Amit Bhatia, the founder of Aspire Circle comments hopes that investors, entrepreneurs, and policy-makers will engage with the research-based recommendations to help India truly realize its demographic dividend.