India’s education industry is among the largest in the world and plays a significant and remedial role in balancing the socio-economic fabric of the nation. This is why education is core to the Indian government’s masterplan to promote long-term economic growth.
India pipped the UK to become the fifth largest economy in the world during the last quarter of 2021. The last time this happened was pre-pandemic, in 2019. India also boasts of having the world’s largest population in the age cohort 5-24 years at 580 million. The country’s median age is around 28.4 years.
Put these together, and the automatic implication becomes that India is a huge market for the education industry. The overall Indian education market is projected to be worth US$225 billion by FY 2024-25, showing compound annual growth rate (CAGR) of 14 percent as per a 2021 report.