The education sector is estimated to reach around Rs 7.8 lakh crore in 2016-17 and has incredible potential to grow due to a huge demand-supply gap, according to a report.
The marketplace size of the sector was around Rs 6.4 lakh crore in 2015-16, said the report by India Ratings and Research (Ind-Ra).
Beside the growth in the standard public and economic sector education system in type of schools and college institutes, the growth will also be backed by the non-formal private education sector like pre-schools, training institutes and occupation training centers, among others, it stated.
It said that more worldwide collaborations with education organizations, in addition to joint endeavors and merger and acquisitions with both foreign and domestic corporate gamers, would further assist the sector to grow.
According to federal government data, the share of state personal universities out of the total universities in the nation spiked to 29 percent in 2014-15 from around 3 percent in 2008-09.
It stated some private universities have actually even produced a niche within a period of 4 to 5 years or perhaps less with efficient faculty, tie-ups with reputed global universities.
The rating company thinks there is considerable reward for opening up state personal universities in the absence of any regulative cap on the authorized consumption for students, which has a positive bearing on the performance of such varsities.
However, it mentioned that the quick expansion of education sector in India is associated with by a high student-teacher ratio in both school and college sectors.