The education landscape in India is undergoing a remarkable transformation, driven by advancements in various sectors.
This shift has opened up unprecedented opportunities in the education sector. However, India’s Gross Enrollment Ratio (GER) in Higher Education, currently at 27 percent, lags behind countries like China, Canada, USA, Germany, and France.
Let’s explore how Edtech business models are playing a pivotal role in addressing this challenge.
The GER Challenge:
India’s GER for Higher Education has shown some improvement, reaching 27.3 percent for the 18-23 age group in 2020-2021.
Yet, it falls short when compared to global standards. The National Education Policy (NEP) 2020 aims to boost the GER to 50 percent by 2035, an ambitious target that requires the addition of 3.5 crore seats in higher education and increased investments.
Quality vs. Quantity:
Increasing GER alone is not enough. Ensuring the quality of education is equally crucial.
A revamp of the existing education system is essential to address the employability challenges faced by students.
The focus should be on delivering productive outcomes.
Edtech’s Role:
Edtech companies are stepping in to bridge the gaps in the education sector. They operate under various models:
Operational Models: Edtech companies may run programs independently or collaborate with existing institutions.
Learning Promise: They can offer certifications, degrees, or employment opportunities upon program completion.
Delivery Methods: Learning can be provided through online, offline, or mixed approaches.
Institutional Partnerships:
Edtech companies are increasingly partnering with academic institutions to improve education quality and expand access.
This collaborative approach aims to enhance the overall educational experience and boost positive outcomes for students.
Independent Programs: Some Edtechs offer independent programs focused on equipping students with the skills needed for better career prospects, empowering them to confidently enter the job market.
The Road Ahead: The higher education sector in India presents a vast landscape for improvement. This includes revamping the education system, increasing investment, capacity building, and adopting modern teaching methods.
Edtech companies continue to play a significant role in shaping the future of higher education, striving to increase GER while providing a holistic learning experience for students.
The rise of Edtech business models in India’s education sector is a beacon of hope, addressing the challenges of quantity and quality in higher education.
As the country progresses towards its ambitious GER target, the collaborative efforts of Edtech companies and academic institutions promise a brighter future for students and the nation’s education system.
By embracing innovation and partnership, India’s higher education sector can continue its journey towards excellence, preparing students for successful careers in the dynamic global job market.
