DUBLIN--(BUSINESS WIRE)--Research and Markets(http://www.researchandmarkets.com/research/471250/technical_educatio) has announced the addition of the "Technical Education in India" report to their offering.
The Indian Education system is second largest in the world after USA. Technical education market in India was estimated at Rs.53 billion in 2010-11 and is expected to reach Rs.63 billion in 2011-12, reflecting a growth of 20%. Currently India spends around 5% of average household income on education, which is slated to grow at a CAGR of 10% over the next few years. Also, Government of India (GoI) is upbeat to raise the bar of quality and standards, hence it has allocated Rs.820 billion for higher education in budget 2011-12, which reflects a significant increase of 24% over 2010- 11.
Globally, there is a shortage of skilled engineers and India, with its large young population has the opportunity to position itself as a quality source of skilled manpower for the world. As per Nasscom, the Indian IT industry will require around 7.5 million engineers in the next 10 years so as to retain its competitive edge. The total number of engineering seats in the country was more than 1.3 million as on 31st March 2011. An increase of over 250,000 seats has been reported in the year 2010-11. As per Cygnus estimates, the total number of seats in engineering institutions is expected to cross 1.9 million by 2012-13.
India flaunts its excellence in the technical education. Technical education market was estimated at Rs.53 billion in 2010-11 and is expected to reach Rs.63 billion in 2011-12, reflecting a growth of 20%.
As per Nasscom, the Indian IT industry will require around 7.5 million engineers in the next 10 years so as to retain its competitive edge. All India Council of Technical Education (AICTE) has approved total 2872 Engineering Institution in 2009-2010.
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