New Delhi: The spending in the higher
education sector in the country is projected to go up from Rs
46,200 crore at present to Rs 1.50 lakh crore in the next 10
years, said a study released here on Thursday.
The report prepared by Ernst & Young in association with
FICCI said possibilities like diversity and collaboration hold
the key for changing India`s higher education system into a
system free from the primary challenges.
The report titled `new realities, new possibilities --
the changing face of Indian higher education` was released by
HRD Minister Kapil Sibal along with UK`s Minister of State for
Universities and Science David Willets and others at the
FICCI-organised `higher education summit` here.
While noting the substantial participation from the
private sector and growing interest from foreign players in
the higher education sector, it said, "there is a need to
align supply to the changing needs of students".
It observed that growing global integration and changing
macro-economic trends are influencing the composition and
preferences of students, leading to new demand-side realities.
These include increasing spending on education, new
categories of students, willingness to pay for academic
quality, increasing demand for global education and demand for
The government, it said, has played a key role in
augmented supply in the higher education sector through
enhanced funding and by setting up new institutes.