With the current pace of education spending and factors like shortage of quality teachers, India will take a whopping 126 years to reach standards of education at par with developed nations, according to a report by ASSOCHAM
The eLearning sector is expected to reach $1.29 billion ($40 billion by some uber-optimistic estimates) by 2018, growing at 17% CAGR. This is expected to be faster than the global growth by a factor of 2x.
The IBEF study says at present, higher education sector witnesses spending of over Rs 46,200 crore and it is expected to grow at an average annual rate of over 18% to reach Rs 232,500 crore in next 10 years.
India and Germany have signed an agreement on vocational education and skill development with a budget of US$ 3.37 million, which will help create and improve cooperative workplace-based vocational training in India’s industrial clusters.