How Are NRIs Investing In Indian Education System

India’s appeal as an attractive investment destination has taken a significant jump in the last couple of years. From automobiles and consumer electronics to FMCG and tourism, every sector of the Indian economy is attracting big guns in the investment world. Non-resident Indians (NRIs) are also significantly contributing to the country’s growth story, and among other industries, their investment in the education sector continues to increase exponentially.

Further, with the rising demand for trained professionals, the Indian education sector makes for a compelling case for investors, including NRIs. Market Size: The International Market Analysis, Research, and Consulting (IMARC) firm pegs the CAGR of the Indian preschool market at 11.2% between 2023 and 2028.

The category boasted a total market size of $3.8 Bn in 2022 and is expected to reach $7.3 Bn by the end of 2028. Further, India has around 1.5 million K-12 schools imparting education to around 250 million students, and with the Indian government allowing up to 100% FDI, students can now easily enrol in education schemes funded by NRIs. If you too are looking for such an opportunity, then here are the options that may align with your interest area and career aspirations:

Azim Premji Foundation: Founded in 2001 by well-known philanthropist Azim Premji, the foundation aims to create an equitable, holistic, and sustainable society with access to education for all. The total value endowed to the foundation is around $ 29 Billion with the majority of the contribution done by Mr Premji. It’s specifically focused on enhancing the overall quality of the school education system and is doing incredible work in making education accessible to students from disadvantaged backgrounds. Aligned with the objectives of NEP 2020, NCF-FS 2022, and NCF-SE 2023, the field institutions of the foundation are spread across 7 states, offering assistance to more than 3,50,000 schools with special aid to the Northeastern states of India. The foundation also runs the Azim Premji University, which has campuses in Bhopal and Bangalore in Madhya Pradesh and Karnataka states in India, respectively.

Heartfulness Education Trust: Taking comprehensively different approaches to learning, Heartfulness Education Trust (HET) focuses on making learning a fun experience for aspirants. The non-profit foundation is led by renowned spiritual leader Shri Kamlesh D. Patel (Daaji) and offers courses for students, teachers, and parents across school and university levels. Aligned with the theme of NEP 2020, the programs offered by HET are deeply rooted in hurtfulness and address issues such as cognitive development, life skills, and socio-economic learning, among others. The flagship courses run by HET, such as value-based curriculum, leadership mastery, and the Global Essay Event, are focused on evidence-based practices and prove instrumental in bringing about revolutionary change in society.

Teach for India: The initiative founded in 2008 is inspired by the Teach for America model. The founders have collaborated with McKinsey & Company to make education accessible for children coming from different spheres of life in India. The initiative started in Mumbai and Pune and is now furthering the cause of education across 8 cities, with 34,000 students directly benefiting from their teaching processes. The initiative has touched the lives of more than 50 million children across the country, thanks to the support of their 900 fellows and an alumni network of more than 4,000 professionals. By offering equal opportunity to education, Teach for India is empowering the future citizens of India by making learning accessible to all.

Pratham: Pratham was founded in 1995 to offer education opportunities for children living in slum areas of Mumbai. Today, the organisation has transformed itself into an innovative learning movement that specifically focuses on addressing the gaps in the education system of the country. The organisation has partnered with the government, and in addition to educating millions of children, it’s also creating opportunities for vocational and skill training for students belonging to underprivileged socio-economic backgrounds in the country.

While NRIs fund and collaborate on a number of educational initiatives, the specific programmes mentioned above are among the most prominent ones on the list of many such movements in the country. These programs are silently changing the lives of millions of children in India, and by offering support to these initiatives, NRIs are helping alter the status quo of the entire education ecosystem to make it more effective in imparting learning and efficient in developing skills.

(The writer is a Founder, Chairman and CEO of MSys Technologies. Views expressed here are those of the author)