Knowledge is growing in importance as a source of wealth creation throughout the economy. A large majority of new jobs being created are fuelled by the competition between knowledge-based industries. Recent trends indicate knowledge may soon be one of the only source of competitive advantage in such organizations. The World Bank has defined a knowledge economy as one that creates, disseminates, and uses knowledge to enhance its growth and development.
In view of the above facts, it is apparent that institutions imparting quality education, especially higher education are going to be of paramount importance. The higher education market in India though one of the largest in the world, has tremendous scope of growth on account of our massive population and the greater number of students choosing to pursue higher education. There has been a noticeable shift in focus from the public to the private sector, encouraging a number of foreign institutions to foray into the field.
The higher education system in India has witnessed a level of growth that is nothing short of remarkable in the last few years. The total amount of foreign direct investments (FDI) in the education sector in India stood at US$ 1,071.5 million from April 2000 to January 2015, according to data released by Department of Industrial Policy and Promotion (DIPP).
A majority of problems faced by this sector in India were poor infrastructure, shortage of competent, qualified professionals in the field and low employability of the students. However, recent developments in related fields are helping solve these problems and future prospects of the industry seem extremely favourable.
Our expert team of lawyers having decades of experience are more happy to serve and protect any interests our clients may have in this field and put in hours of dedicated effort into ensuring favourable and profitable outcomes for our clients engaged in any business relating to this or its associated fields.