A view of Higher Education vis-a-vis Overseas Education

2017 should be an interesting year for the education sector related to overseas education

Personally I believe that if the impact of Brexit and change in US Immigration Rules for International Students follow currently predictable routes the year will see

a)      Change in patterns of student migration with the curve biased in favour of destinations like Canada, Singapore, Europe, and (don’t be surprised) China.

b)      More Foreign Universities could be looking to deliver their teaching in India through suitable alliances

This represents a wide range of opportunities in this sector
 The basis of my thinking is as follows :
·         These are some facts commonly available

http://www.ibef.org/industry/education-sector-india.aspx

The education sector in India is poised to witness major growth in the years to come as India will have world’s largest tertiary-age population and second largest graduate talent pipeline globally by the end of 2020. In FY 2015-16, the education market was worth about US$ 100 billion and is expected to reach US$ 116.4 billion in FY 2016-17. Currently, higher education contributes 59.7 per cent of the market size, school education 38.1 per cent, pre-school segment 1.6 per cent, and technology and multi-media the remaining 0.6 per cent.

Wonderful prospects to make the mouth of any global investor water
·          So where are the pitfalls?

If we do not get the act right, these mind boggling figures, can become a nightmare instead of a pleasant dream.
We would have a monster on our hands instead of a gentle giant.
·          To ensure optimisation of the situation and using its potential

a)     Job creation must happen at a brisk pace to keep up with the eligible job seekers being created

b)     All sectors of the economy must grow proportionately and not just one or two sectors

c)     Skill sets must be imparted emphatically before entry into the work space

d)     We cannot depend only on IT, Insurance and Banking , Transport  and other such sectors

e)     Entrepreneurship must not only be encouraged but also positively supported by sympathetic investments

It is not enough to create job ready citizens, there must be jobs for them which seems a tough ask given the current economic situation.
 

Also, very importantly , demand for products and services must go up because if that does not happen then all our calculations would be turned on their head !

In the current scenario,
 

• Private and public investment is flowing in and the Government is supporting with subsidies. The danger is that the private sector investor may not pass on the benefit of theses sops to the fee paying student.
• Banks and other finance companies are ready to provide loans
• There is an intensive effort on the part of industry and services to integrate their systems with the learning process thus ensuring themselves a work force suited to their needs. Today almost every department of an organisation has a corresponding Post Graduate specialization.
• An interesting fact is that with the mammoth size of the student group it will be some time before there will be enough seats available locally and many a student would look for going abroad to gain the knowledge and expertise. Foreign Universities can expect the demand for their seats to continue for some years to come.
• We are watching with bated breath the real time impact of Brexit and US policy on student visas and employment of foreigners both of which will have an impact on the migration and movement of students. I believe the lobby of education providers in the UK and the USA would be hard put if the numbers of foreign students dwindle

So given the demand and supply situation the premises made in the opening para should be right

 The Debate is open !