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Budget 2019 and Indian ed-tech industry
The National Education Policy that the government has rolled out will further help India increase its global presence by stressing upon areas like research and innovation while also establishing world-class institutions.
The National Education Policy that the government has rolled out will further help India increase its global presence by stressing upon areas like research and innovation while also establishing world-class institutions. This will also supplement its plans to promote the 'Study in India' programme and attract foreign students to migrate to India for education. The government also plans to present draft legislation for setting up the Higher Education Commission of India (HECI).
In line with its emphasis upon research, the government has proposed to establish the National Research Foundation (NRF). It will assimilate research grants given by different ministries in order to strengthen the research ecosystem in the country. The government aims to channelize these resources for promoting research and development among youth and giving them top-notch training.
Skill training among the youth takes the front row
Considering the continuous evolution of technology and the nature of jobs, the demographic trends point towards skill shortages in the future. Taking this into account, the government has acknowledged the need to upskill the country's youth and is aiming to enhance its skillsets. It will focus on imparting practical working knowledge in innovative technologies such as Artificial Intelligence, Big Data, 3-D Printing, Virtual Printing and Robotics, enabling Indian professionals to take up high-paying jobs within the country or abroad.
The road ahead for the ed-tech industry
As more startups are entering the ed-tech space, the government has proposed a new channel under the Doordarshan bouquet to provide a platform to them to disseminate information across the industry.
While these steps would drive growth in the industry in general, the government has overlooked a few issues that have been restricting educators and students from realizing their full potential. While it was already focusing on the growth of e-learning in the country, its GST policies did not allow optimal growth.
