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Quote: “Each year 150,000 students leave India
Another Quote: “Each year India
The Last Quote: “India
Simply put edupreneurs are educational entrepreneurs and we need them today for more than one reason. One of the foremost reasons being the one quoted above.
But let’s not get directly into the economics of education business.
Education is not what it used to be a decade or two ago.
With the fast paced technological development and globalization setting in, the entire education system has changed. World class facilities to learn, understand, appreciate and to put to practice the concepts being taught are the norm of the day for education.
In India, the education facilities are far far below the global standards and only a revolution can help steer India education system to a being top class.
A student who almost made it to the IITs is not very different in caliber to the one who made it to IITs, but there is a huge difference in the kind of education they get and the way they are groomed.
Result: Students start looking out for opportunities outside India
This is not the end of it.
More often than not, this brain drain is permanent and no effort is being made to reverse this trend. I will try to stop the brain drain discussion here so as to not to foray away from the topic But the point to note is that this leads potential future losses in terms of economy, class and quality for India.
Our governments have not been doing much to address this issue. India Harvard University
So far the government has been controlling education from being a full blown business. There are too many constraints and checks and this keeps people from venturing here. But the governments justify it -sometimes business men get too carried away with the profits and may concentrate more on profits than the quality of education which beats the purpose.
As Kapil Sibal states in an interview, “There are not many profits to be made here (in education Industry). All that you earn you need to invest back”. This explains one reason why business men used to shy away from education ventures.
But no more. With too much of FDI flowing in, people are looking for opportunities to make money and they realise the potential of this industry. We already have quite a few success stories for the inspiring edupreneurs to look forward to. Educomp systems, amity group, NIIT,career launcher are few successful eduventures to quote.
By encouraging edupreneurs the government can address to major social issues of Indian society – illiteracy and unemployment. Not to forget, they can redeem a part of 45,000 crore rupees deficit India faces every year and can also cut short the brain drain, there by retaining the most talented India back home in a time when there need and presence in the country is most wanted.
P.S: I will try to get more insights on this topic and share with you in the coming articles on this series