Stressing that education is the key to unlock India’s demographic dividend, Deepak Parekh, Chairman of HDFC called for “aggressive” investments by the government as well as corporates in the sector. The eminent industry leader termed spending on education as abysmally low at 3 percent of GDP.
As the financial sector conglomerate headed by him launched its first school named HDFC School, Parekh said, “For a country like India, spending on education is abysmally low at 3 percent of GDP. India has one of the youngest populations in the world and effective investment in education will determine how well the population is educated and this in turn will enhance the productivity of the demographic dividend.”
“Though the allocation for the education sector has gone up progressively in the past decade, there is still a need that the Indian government and private sector invest aggressively in education sector going forward. There is a lot of innovation that can be brought into the education space and with this initiative, HDFC aims to create a visible impact on schooling system,” he added.