The leading name in market research consulting services, RNCOS, has recently released its research report on the thriving Indian education sector - " Education Services Market in India (2007)”. As per the report, the growth of private higher education institutions will outshine the growth of government and private aided universities and colleges in future.
The report says that during 2000-01 to 2005-06, the enrollment figures in private aided institutes increased by around 12.15% and that in government institutes marked a rise of nearly 11.8%. On the other hand, private unaided institutes registered a healthy growth of over 76% during the same period. The report identifies government’s inability in bearing the expenditure of education sector as the reason for high enrollment in private unaided institutes. So this has given an opportunity to the private sector to take initiative to fill the gap by expanding their reach into the education sector.
But the continuous rise in the number of private institutes has degraded the quality of education. The report suggests that private institutes can overcome this situation by working together with foreign universities. Even the Indian government has taken strong measures to encourage foreign universities seeking to enter the higher education scene in the country for opening campuses in India under the liberalization movement. And as India is the third biggest potential education market in terms of enrollment after China and the US, foreign educators will not feel apprehensive in coming to the country.
Despite being a lucrative education market, the study also highlights the challenges faced by foreign universities in India. They might face hurdles regarding the student’s perception that the class and market value of a degree attained from a foreign country is usually better than the one obtained at the Indian campuses.
So the success of foreign universities in India, to a larger extent, depends upon how much they contextualize their programs and courses, while making it affordable to a bigger student base, research said.
"Education Services Market in India (2007)” presents a detailed and updated overview of the Indian education service market. It evaluates present trends, government policies on education system and opportunities and challenges to present a rational future outlook of the education market in India.
The key issues addressed in this report include through research on the Indian education sector, operation and entry policies for foreign players, and financial aspects.
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