Indian Education Market Analysis

Indian program line Market AnalysisIntroduction mannequin of International vexation in overseas market. high education these long time has become a profitable business collectable to high get hold of of timberland education worldwide. This has given rise to global branch campuses entirely or so the world. These campuses plight in host country and impart awards and qualifications with a brand name of home university.An Analysis of why University of Wollongong expand to IndiaUOW has already established a very unshakable league with Indian pedantic institutes in the aras of mining applied science, renewable energy and logistics. UOW to a fault score impregnable links with major Indian IT companies like Infosys. The cost of setting up a campus in India will be slight because UOW has very pissed local ties which will be helpful in raising the capital. University is also popular among Indian students and over one thousand Indian students atomic number 18 currently enro lled in UOWs Australian and Dubai campuses. Indian education heavens is viewed as very lucrative as the country want to develop skills of around 400 million people by 2022(Munro, 2017). It is highly anticipated that UOW would make profit by ex decennaryding its overseas market to India. in that respect is no enquiry that every business venture has just about encounters associated with it. In this case, major risk would be that students may prefer to study in universitys Australian campus or else of Indian campus. This risk can be minimised by offering less tuition fees at Indian campus. Another solution is to offer match arrangements to students which would involve option of partial study in Indian campus followed by study in Australian campus.PESTLE Analysis of Indian instruction MarketIndian education firmament has recently been identified as a lucrative market for investment due to low literacy appraise, suppuration urban population and recent increase in per capita income. Indias education sector does offer many profitable business opportunities for immaterial universities like UOW(Tohmatsu, October 2012). Indias high education market has grown significantly in the past ten years as shown in the fig below.More students are enrolling in higher educational institutes after leaving school and willing to hire more for quality education. There are opportunities for foreign universities to establish an supranational branch campus in India independently or in collaboration with hugger-mugger sector. A detailed analysis of Indian market in call of political, environmental, social, technological and legal factors can be discussed as followsPolitical milieu India is a democratic country and current disposal was elected in May 2014 under the maneuverership of Prime Minister Narendra Modi. Current presidency is very stable and powerfully hold back foreign investment in education sector. A legislation is currently underway to allow foreign unive rsities to setup international campuses in India. The proposal is to allow foreign universities to ope pasture independently, award degrees and repatriate all profits which is strongly supported by many state establishments as well. Governments focus is on providing opportunities for millions of young Indians to consume quality education and employment skills. Government is committed to skill maturation of half a billion people by 2022(Export.gov, 2017).Government strongly support collaboration between foreign universities and Indian universities in question and development. Government focus is on developing partnership with foreign universities in the field of mining technology, software development, pharmaceuticals and nanotechnology. UOW has recently joined hands with Indian state government of Gujarat to support Centre of Mining Excellence due to the universitys expertise in mining technology. Current political environment in India is very favourable for UOW to setup an inte rnational campus in India.Economic milieu India is the third base largest economy by purchasing power parity and one-seventh largest in the world in terms of nominal Gross domestic help Product (GDP). India is considered as one of the major economy in G-20 nations. During the break down five years, Indian economy has experienced a growth rate of 7-8% per annum and it is expected to grow at the same rate for at least(prenominal) next five years. The driver behind countrys economic expansion is its operate sector which comprised of retail, telecommunications and information technology.India is emerging as a very strong market for higher education and vocational training due to its redevelopment sector driven economy. The number of enrolments at educational institutes in India is the third largest in the world only behind China and the US. Education sector in India has witnessed a strong growth in the past 20 years and it continues to grow which gave rise to strong demand for hi gher education. higher(prenominal) education sector in the past was dominated by government institutes, provided admissions in private institutes have suddenly increased recently due to higher demand supply gap. It is estimated that education market in India will worth billions of dollars in upcoming years. Education market in India is becoming very lucrative and this is the best time for UOW to setup an international campus in India(Deloitte, September 2013).Social and Cultural surroundings India is considered one of the youngest countries in the world with a median age of around 24 years. Indias possible workforce is estimated to reach one billion by 2025. Indian literacy rate is 74.04 % as compared to world literacy rate of 86.3%. Indian society is very several(a) with many cultures, languages and religions. In India, religion plays an important role and people are very much influenced by it. Culture and Religion also have implications on education(Andy Bertsch, 2013). In the past, most of the students were only sakied in engine room and medicine courses due to the influence of their family and friends. instantlyadays students have started showing interest in variety of other courses such as journalism, hospitality, law and management. There is a golden opportunity in India for UOW to offer specialised courses and quality education to millions of aspiring students.Technological EnvironmentTechnological changes can lead to innovation, better quality and less costs for the organisations. Internet and telecommunication technology is evolving very fast in India. Most of the country is served with 3G and 4G networks to support businesses. India has a powerful information technology sector which constantly provides new estimator systems, software and technological advancements. India has all the infrastructure in place to provide world class teaching facilities like smart lecture theatres with sound video connectivity, e-learning and fast internet connect ion for the proposed international campus(Scholar, January 2016).Legal Environment Indian legal system is well developed and based on the Common law of England. Judicial system is fair, accountable and transparent. Taxation policies support foreign direct investment and international trade is governed by conciliatory regulations. Indian companies pay flat tax rate of 30%, however foreign companies pay flat tax rate of 40%. The government has started projects like E-Biz and Invest India with an aim to facilitate investments from global investment community. Now only single application is required for multiple clearances to set up a new business in India. This is the best time for a foreign university like UOW to establish an Indian campus.ConclusionThere is no doubt that international branch campus can be a monetary risk for the Universities however, UOW is already running a very successful campus in Dubai. Lucrative Indian education market, favourable economic conditions, strong p artnership with local IT industry and research collaboration with academic institutes are some of the potential success factors for UOW to open a campus in India.ReferencesANDY BERTSCH, J. O., M.SAEED, SONNIE BATES AND ABM ABDULLAH 2013. Business Environment in India An International Perspective Business Environment in India An International Perspective Dhaka.DELOITTE September 2013. Deloitte Foreign Universities in India. Touche Tohmatsu India Private Limited.EXPORT.GOV. 2017. India Education Service Online. International trade administration. Available https//www.export.gov/article?id=India-Education-Services Accessed 25 marching 2017.HEALEY, N. October 19, 2015 The Conversation Academic rigour journalistic flair Universities that set up branch campuses in other countries are not colonisers Online. The Conversation Media convention Ltd. Available http//theconversation.com/universities-that-set-up-branch-campuses-in-other-countries-are-not-colonisers-46289 Accessed 22 March 2017. MUNRO, K. 2017. Could building campuses offshore be the incoming for Australias universities? Online. Faltex Media. Available http//www.smh.com.au/nsw/could-building-campuses-offshore-be-the-future-for-australias-universities-20160719-gq8wsv.html Accessed 27 March 2017.SCHOLAR, M. R. R. January 2016. MAKE IN INDIA PROSPECTS AND CHALLENGES International daybook of Business Quantitative Economics and Applied Management Research, 2, 60.TOHMATSU, D. T. October 2012. Indian Higher Education Sector Opportunities aplenty, growth unlimited 2012 Deloitte Touche Tohmatsu India Private Limited.