Education
stakeholders . However , this has come with considerable investment for setting up a world-class infrastructure which has resulted in quality output in tandem with freedom to design teaching programmes and hire highly qualified faculty without having to make any compromise .
Private universities have come up in every region of the country . Delhi-NCR is a leading hub where private educational institutions with some of the best not only in India but also the world are located . They have drawn students from every corner of the country and from across the globe by the sheer dint of their quality education and campus facilities that are as good as a home away from home . The campus throb with a universal appeal that makes them inviting .
The private universities are faced with tremendous challenges to stand head above their competitors which keeps them on their toes . Lackadaisical approach is suicidal to their very existence . Private universities keep themselves abreast with global teaching practises and market trends by making tailormade curriculum which is revised often by competent advisory councils , very often in consultation with industry leaders and forge partnerships with leading companies for guest lectures and skilling their students for a hands-on job thE prIvatE unIvErsItIEs arE faCEd WIth trEMEndous ChallEngEs to stand hEad abovE thEIr CoMpEtItors WhICh kEEps thEM on thEIr toEs .
experience . Collaborations and exchange programmes with universities abroad are also the way forward for these universities to get exposure for their students about current global business trends .
These universities are competent to award degrees as specified by the main regulators for higher education , the University Grants Commission ( UGC ) and the All India Council for Technical Education ( AICTE ). In addition , they also ensure to qualify to get certification from the 15 professional councils regulating various professional courses . These are statutory bodies established by Acts of Parliament such as the Medical Council of India , Bar Council of India , Council of Architecture , etc .
The education sector still has vast untapped potential for which the government has initiated several reforms , programmes , schemes and increased financial assistance to bridge the gaps . Upcoming new universities act as feeders by catering to the higher education needs of their neighbouring region especially those in the proximity of the upcoming 100 smart cities of the country , as well as allocating increased grants to encourage research scholars . They also give a boost to distance education market by focussing on new education techniques , such as E-learning and M-learning etc ., among several other measures towards providing a global standard of education .
Today , India is considered as the second largest market for e-learning next to the US . According to estimates , this sector is currently pegged at US $ 2 billion and is envisaged to touch the US $ 5.7 billion mark by 2020 . The distance education market in India is reportedly expected to grow at a Compound Annual Growth Rate ( CAGR ) of around 11 per cent till 2020 .
The online modes of teaching are being used by several higher educational institutions both private and public , which would revolutionize the entire education system and subsequently accelerate development in the near future . Moreover , the projected raise in gross enrolment ratio to 30 per cent by 2020 will also come as a shot in the arm for the growth of distance education in India . This could possibly place the country on the world map as a hub of academic excellence .
The education market size in India is currently said to be worth , US $ 100 billion and is expected to touch US $ 180 billion by 2020 . Reportedly , higher education contributes 15 per cent of the market size , text-book , e-learning and allied services a sizeable 28 per cent and vocational education in manufacturing and services contributes a mere 5 per cent . Private universities have a wide playing field to dip into these resources to contribute to the much- needed quality education for the youth of the country .
According to reports , in 2030 , India is poised to emerge as a single largest provider of global talent , with one in four graduates in the world being a product of the Indian higher education system , be among the top 5 countries in the world in terms of research output with an annual R & D expenditure of US $ 140 billion and more than 20 universities will figure among the global top 200 .
Private varsities are living up to their objective of social responsibility to empower the youth for tomorrow and strengthen the economic growth of the country . The best is yet to come . •