By Rob Starr, Content Manager, Big4.com
Deloitte’s latest report, ‘Indian Higher Education Sector: Opportunities aplenty, growth unlimited!’ states success in leveraging knowledge and innovation that could contribute to hi-tech manufacturing and high value-added services is only possible with a sound infrastructure of higher education. As per projections, the sector is expected to register a CAGR of 12% from 2008 to reach a size of USD 31.47 bn.
The Government has set itself an aggressive target of doubling the GER in higher education from 15% at present to 30% by 2020. As per estimates, to meet such a target huge investment will be required in terms of capital and operating expenditure which based on past experience Government would not be able to provide by itself.
The Indian Higher Education is the “sunrise sector” for private and foreign sector as it presents an unparalleled opportunity in terms of market size, minimal impact of recession and future potential reform measures proposed by the Government.
India has the third largest higher education system in the world in terms of enrolments, after China and the US. The number of students enrolled in the universities and colleges (formal system) has been reported to be 16 mn in academic year 2010-11. This does not include enrolment in higher education offered through Open and Distant Learning. India is acknowledged to have the largest higher education systems in the world in terms of number of institutes