The growth prospects for education services in India, egged on by the government initiatives are looking very positive. Multimedia education is penetrating at rapid pace into the classrooms, with latest innovative teaching solutions.
There are around 11 lakh schools in India, among which 8 lakh are government schools and 3 lakh are private schools. In the FY10 Union Budget, allocation for the Mission in Education through ‘instructional computing technology’ (ICT) scheme was substantially increased to Rs. 900 crores from Rs.502 crores in FY09. Despite these impressive statistics, the Indian education market has a long way to go and plays a major role for India to become a super-power.
Over the last few years, there has been tremendous increase in the number of international schools and new innovative teaching solutions. There are already some strong players like NIIT, K-12, Educomp, TIME, IMS, Everonn that are making good business in this booming sector. Also, there has been a spur of teaching solutions for the rural poor like guruji-india (www.guruji-india.com) and others.
Education is big business in India, and the existing and new players will undoubtedly benefit from the strong growth of the estimated $20 billion education market in India.