Education Sector will Reach Rs. 7.8 Lakh Crore in FY17, Says a Report
The huge demand-supply gap existing in the education sector will trigger growth in the coming fiscal year,says a report by India Ratings and Research (Ind-Ra).
The sector was estimated to reach a market size of around Rs 7.8 lakh crore in 2016-17. Previously, i n 2015-16, it was found to be around Rs 6.4 lakh crore . The report also stated that the expansion will be backed by the conventional public and private education sectors as well as the non-formal private education sector like coaching institutes and vocational training centres, among others.
The government data shows a spike in the share of state private universities from 3 percent in 2008-09 to 20 percent in 2014-15, out of the total universities.
There will be tremendous potential for growth with both foreign and domestic corporate players creating its own niche in the industry via joint ventures, mergers, acquisitions and other forms of tie-ups and international collaborations.