The Indian overseas education market to reach new higher heights and reach a value of US$35 billion
The Indian overseas education market is expected to reach new heights by 2025, with the market projected to grow at a compound annual growth rate of 15-20% over the next four years, reaching a value of approximately US$35 billion. This growth is being driven by several factors, including the increasing demand for quality education from Indian students, the growing number of international universities and colleges setting up campuses in India, and government initiatives to promote overseas education. In addition, trends such as the increasing popularity of online education and the growing demand for vocational education and training are expected to contribute to the market’s growth. The increasing internationalization of education is also opening up new opportunities for Indian students to study abroad. Overall, the future looks bright for the Indian overseas education market, which is well-positioned to reach new heights by 2025.
1. Growing Demand for Quality Education Drives the Market Growth
One of the main factors driving the growth of the Indian overseas education market is the increasing demand for quality education from Indian students. With the country’s economy on the rise and more young people seeking higher education, more and more Indian students are looking to study abroad. This trend is fueled by several factors, including the desire to gain international experience and exposure, the opportunity to improve English language skills, and the belief that international education can lead to better job prospects and career opportunities. As a result, the demand for overseas education from India is expected to continue to grow in the coming years, driving the overall growth of the market
In addition to the factors mentioned in the previous paragraph, the growing demand for quality education from Indian students is also being fueled by the limited capacity of the domestic education system. India has a large and rapidly growing population, and the demand for education far outstrips the supply of schools, colleges, and universities. As a result, many students are unable to secure a place in a domestic institution or may be dissatisfied with the quality of education available to them. Studying abroad offers an alternative for these students, and allows them to access a wider range of educational opportunities and resources.
The growing demand for quality education in India is also being driven by the increasing awareness and importance of education among Indian families. In the past, education may not have been seen as a top priority for many families, but today it is increasingly viewed as a necessary investment in a child’s future. This shift in mindset is driving more families to consider sending their children abroad to study, even if it involves significant financial sacrifices.
2. Government Initiatives Promote Overseas Education for Indian Students
The Indian government has implemented several initiatives to support students studying abroad, as part of its efforts to promote overseas education for Indian students. One such initiative is the “Study in India” program, which aims to attract foreign students to study in the country. The program offers a range of benefits to foreign students, including lower tuition fees, scholarships, and financial assistance. The goal of the program is to make India a top destination for international education and to provide more opportunities for Indian students to study abroad.
The government is also providing financial assistance to Indian students studying abroad through several programs and initiatives. This includes scholarships and grants, as well as educational loans. These programs are designed to help students cover the costs of tuition, accommodation, and other expenses associated with studying abroad.
Overall, the government’s initiatives are helping to promote overseas education for Indian students and to make it more accessible and affordable. These initiatives are expected to contribute to the growth of the Indian overseas education market in the coming years.
3. Increasing Internationalization of Education
The increasing internationalization of education is also expected to drive growth in the Indian overseas education market. As more and more universities and colleges form partnerships and collaborations with institutions around the world, more Indian students will have the opportunity to study abroad as part of their degree programs. These programs can be a cost-effective way for students to study abroad, as they often have lower tuition fees than standalone study abroad programs.
In addition to traditional study abroad programs, the increasing internationalization of education is also opening up new opportunities for Indian students to participate in online and distance learning programs. With the COVID-19 pandemic leading to the closure of schools and universities around the world, many students have turned to online platforms to continue their studies. This trend is expected to continue even after the pandemic ends, as more and more students and institutions see the benefits of online education.
Overall, the increasing internationalization of education is providing more opportunities for Indian students to study abroad and gain an international perspective on their education. This trend is expected to contribute to the growth of the Indian overseas education market in the coming years.