How India plans to reduce the demand-supply triggered learning gap in the ed-tech ecosystem
If we just look around us, we can see that every industry and every sector is undergoing a massive surge of disruption accelerated by two critical factors:
Emergence of technology and l digital not just as another steam but as a way of life. Technology has disrupted as well as enabled the transformation of dreams and solutions into becoming more inclusive and better distributed. Something that seemed impossible just a couple of years ago.
The advent of Generationz not l just in the workforce but as an influential consumer segment which is shaking up the foundations of consumer behaviour as also media consumption.
It is no surprise therefore that education as a whole, and higher education in particular is undergoing such sweeping changes that it is disrupting the very foundations of the what and how of higher education.
We are witnessing a “once in a lifetime” shift that will remodel what is relevant as well as how it needs to be delivered in the future. This movement is the key enabler in bridging the perennial demand and limited supply problem in India when it comes to education. Quality higher education that imparts requisite skills has been a challenge in India for way too long and primarily due to the lack of access to it but time has come for the notion to be turned on its head - all thanks to the disruptive and all pervasive technological innovations that we are blessed with today.
Technological innovation and the pandemic-induced disruption are revolutionising how academic institutions are imparting education to young graduates, as they aim to prepare them with relevant skill-set to compete in today’s knowledge economy. This transformational shift is acting as a launchpad for the ed-tech industry, offering the entire industry an incredible growth potential in the near future not just in India but across the globe as has been proven by many in the industry.
The government of India in National Education Policy 2020 (NEP 2020) introduced some very welcome and forward looking clauses.
One of them was to permit the NIRF top 100 universities to offer both undergraduate as well as postgraduate degrees online. Besides this, the NEP2020 also allowed for dual degrees and encouraged higher education in regional languages. This is a game changer for the higher education sector not just because it makes higher education more accessible but also because it makes it more inclusive. Research has proven that education received in mother tongue has greater impact and resonance with learners and we shall see a surge of innovations in this space too.
At 27.4% Gross Enrolment Ratio (GER), India’s higher education sector needs drastic measures. Over 100 million Indians in the age group of 21-25 years don’t have access to Higher Education today. This underserved population, or demand of learners, is nearly the population of Germany and Canada put together. Staggering to say the least.
If as an industry, we can transform the scenario by helping higher education reach every nook and corner of our country, imagine the change in our society and the lives of millions of this young populace. The NEP2020 has allowed this huge segment to suddenly get access to high quality learning from the top Universities directly on their devices which they are already using to access content and videos. With highspeed data usage, especially for video, already in vogue, we’ll see a massive growth in the number of people pursuing degrees online. Government vision is to raise GER upwards of 50% and the only way this will happen is using direct on device in conjunction with the on-campus approach.
At present, India is speeding up on its path of becoming a major ed-tech hub. Today the county is home to over 4,450 ed-tech start-ups assisting more than 300 million school students. Additionally, about 40 million students who are pursuing higher education are switching to virtual learning courses for good or at least in the interim while offline learning stopped. These online courses that cater to all students, graduates, and working professionals are gaining popularity for being effective, accessible, and flexible. Besides, the hyper-digitalisation and increased internet user base, which has reached about 750 million in 2021, is adding to the reach of this newage education model.
Going forward, ed-tech companies have the ability to connect India by bridging the great urban-rural divide. Ed-tech will act as a springboard to connect, interact and bring young aspirants from different social strata and corners of India to fulfil their ambitions to work in a corporate set-up by getting the edge their talent deserves or to set up their own ventures and spur a revolution in job-creation.
Today, learning skills via a certification course through Online higher education platforms or getting an online degree is something that both consumers and employers are getting more and more used to and soon it will see an even bigger surge with Gen Z becoming part of the workforce.
The old-world models of higher education with limited supply at top institutions were such an elitist and exclusivist notion. What we shall see now is greater inclusivity where the best education from some of the finest universities, institutes across the globe will be available anywhere, anytime for anyone. This inclusivity will spur growth and progress hitherto unseen for societies.
The pandemic has changed the definition and ability of teaching methods completely. Hybrid model is the new model which is being adapted comfortably and reliably. Relatable superheroes are now being used in the form of gamified case studies to engage learners while some ed-tech start-ups have started infusing emerging technologies such as AI, 5G, IOT, Blockchain and so on with traditional case studies to personalize learning and take it to deepest parts of the country.
According to IBEF data, it is estimated that in 2030 India’s higher education will incorporate training methods which includes online learning through games, and it is believed to grow 38 percent in 2-4 years from now. Ed-tech companies must therefore, adopt innovative and transformative training methods to further enable reducing the demand-supply gap.
To sum up, higher education is expected to grow on the back of recent policy changes as well as the changing consumer and employer trend all backed by the power of fantastic technological disruptions that will redefine how education becomes more inclusive and outcome-based.
With Online Programme Management (OPM) as a model being a buzzword now, the times for the Higher Education sector and for India’s learners promises to be more inclusive, engaging and definitely more outcome-oriented. The new-age ed-tech companies aren’t just enabling fantastic skills to be learnt anywhere, anytime but also helping the finest institutions to provide great learning opportunities across the nation with just one click.