“Sound higher education infrastructure is must to leverage knowledge and innovation that could contribute to high-end manufacturing and high value-added services,” says a report released by Deloitte Touche Tohmatsu India.
The report underlines the need of huge investment to achieve ambitious targets set by the government in the area of gross enrolment ratio. The government aims at doubling the ratio by 2020. However, according to estimates, it will require support in terms of huge capital and funds for operating expenditure, which is unlikely to be provided by the government all by itself, says the report.
“The role of private sector in higher education has significantly increased in the last decade. However, due to various impediments the amount of FDI attracted by this sector since 2000 is dismally low at just USD 400 million. It is very important for foreign investment and experience to flow in this sector in order to transform our higher education institutions into the world’s top league,” it added.
The report also highlights the attractiveness of the higher education sector and the opportunities it provides for Indian private and foreign investment even within the existing framework. India has the third largest higher education system in the world in terms of enrolments, after China and the US.