India Higher Education to be a 150,000 Crore Industry

According to a research report by Ernst & Young, spending on higher education in India currently stands at Rs 46,200 crore. The growth rate for this education segment is projected at 12.8% and is expected to touch nearly Rs 150,000 crore in the coming decade, the report states. By comparison, currently the Indian population in the relevant age group to enroll into a higher education course is more than that of Europe, USA, Australia combined.
Graduation courses apart, even the pre-school segment is showing enough promise for the future. Market estimates the pre-school size to touch $1 billion by 2012, clocking a growth of over 3 % year-on-year. It is interesting to know the fact that education is the third largest expenditure group for an average Indian household.