RBETA 2024 spotlights India’s education and skill development transformation

Tech-enabled education: India is the second largest market for e-learning after the US with a market size of $6 billion, and is expected to grow to $10 billion by 2025. K–12 leads the market in terms of sector-wise growth at $2.7 billion, followed by College and Upskilling. 

With the pandemic contributing to an unprecedented jump in online education and job upskilling in the country, India is expected to cross $117 billion by 2030, according to Invest India. 

The pandemic was an inflexion point. With a massive overnight surge in the demand for e-learning solutions, the EdTech sector raised a staggering $1.88 billion in 2020 alone, surpassing in a single year its record of investments received over the five preceding years. During pre-COVID times, the Indian EdTech startups have been able to raise around $ 1.32 billion between 2014 and 2020. 

To celebrate the remarkable growth and visionary contributions in India's educational technology landscape, Republic Business is announcing the inaugural edition of the Republic Business Emerging Technology Awards 2024 (RBETA 2024).

RBETA 2024 aims to honour the pioneers who have changed the educational landscape through their unwavering dedication and innovative methodologies. The event serves as a platform to recognise and celebrate the individuals and organisations driving positive change and building enhanced learning experiences across India's educational technology sector.

Massive market opportunity

India holds a major demographic advantage, with a sizable market for education consisting of over 580 million individuals aged between 5 and 24 years. According to the Invest India reports, India is home to 66 per cent of the young population and the demographic trend is anticipated to continue, with projections indicating that by 2025, 56 per cent of the total population will fall within the 20-59 age group. 

Projections further suggest that by 2030, India will witness the addition of 140 million middle-income households and 21 million high-income households, thereby propelling demand and growth within the Indian education sector.

Furthermore, India has achieved a 100 per cent gross enrolment ratio at the primary level, a feat comparable to that of developed nations. To sustain this momentum, the Government of India, through the National Education Policy (NEP), aims to elevate the Gross Enrolment Ratio in higher education, including vocational education, from 26.3 per cent in 2018 to 50 per cent by 2035.

National Skill Development Mission 

The National Skill Development Mission (NSDM) is a mission addressing the country's critical need for skilled manpower across various sectors. Launched in 2015, the mission includes the government's commitment to improving employability and boosting economic growth through skill development. At its core, NSDM operates with the vision of empowering millions of Indian youth with industry-relevant skills, thereby bridging the gap between demand and supply in the job market.

Central to the mission's framework are its multifaceted strategies encompassing skill development, entrepreneurship, and innovation. It promotes a holistic approach, encompassing both formal and informal sectors, to cater to diverse skill requirements across different industries. 

To learn more about the Republic Business Emerging Tech Awards 2024 click here. 

To become a part of RBETA 2024, click here.