Increasing institutions and enrolments get education sector to stable outlook
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- India
India Ratings and Research (Ind-Ra) Monday maintained a stable outlook for the education sector for the next financial year in view of a marginal increase in the number of educational institutions and enrolments. It has also maintained a stable outlook on most rated educational institutions for FY20.
The majority of Ind-Ra rated educational institutions reported steady enrolments for FY19. Further, the rating agency said although India has an adequate number of higher education institutions, engineering and technology institutes have lately been struggling due to a fall in enrolments (FY18: down 3.56 per cent year-on-year, FY17: down 2.82 per cent).
This led to the closure of 106 engineering institutions across the country in the academic year 2017-18, it added. Although there has been a decline in engineering enrolments, employment opportunities are still high for those who complete engineering, technology and related courses, it said.
The employability for engineering courses was 50-54 per cent during FY15-FY18. Although educational institutions generally lag behind their international counterparts, some of India's top institutes like Indian Institute of Technology Bombay and Indian Institute of Science, Bengaluru, achieved a ranking of 162 and 170 in the world Quacquarelli Symonds world university rankings 2019, respectively.
Ind-Ra expects the education sector to witness growth in FY20, supported by sustained growth in enrolments both at schools and higher education institutions. In its view, national and global benchmarking of education, use of technology and allocation of more resources for research and development view will be the key drivers for improving the quality of education and educational institutions.
(With inputs from agencies.)
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