INDIAN EDUCATION INDUSTRY AT A GLANCE IN 2022 - 2023
India has the largest population in the world, particularly in the studying age of 5 to 24. They count to about 580 million, the highest in the world and hence the Indian Educational Industry has tremendous opportunity in the future. India has also become the second largest market for E-learning after the US. The education market in India is expected to amount to US$ 225 billion by FY25.
Between 2020 and 2023, Foreign Direct Investment (FDI) in the education sector in India stood at US$ 9.2 billion. Indian edtech start-ups have received total investment of US$ 3.94 billion across more than a hundred deals in FY22.
The Indian Union Budget 2023 set aside Rs. 1.12 lakh crore (US$ 13.5 billion) for education – the highest ever and an increase of around 8.2% than what was pegged in 2022-23.
Future of Education Industry in IndiaThe Indian Edtech market size is expected to reach US$ 30 billion by 2031, from US$ 700- 800 million in the previous year. The online education market in India is expected to grow by US$ 2.28 billion during 2021-2025, growing at a CAGR of almost 20%.