New Delhi: The Edtech or education technology sector in India has created more than 75,000 jobs in the past five years and also helped mitigate the Covid-19 induced job crisis in the past two years, the newly-formed Indian Edtech Consortium (IEC) has found in an internal analysis of the sector.
The IEC is a self-regulating body consisting of some of the major Edtech platforms, including BYJU’S and upGrad among others. It operates under the industry body, the Internet and Mobile Association of India (IAMAI).
The Edtech industry in India is a billion dollar industry, which is expected to value at $4 billion by 2025. The Edtech players now claim that it has also been one of the biggest job creators in the past few years.
“Over 50,000 professionals are currently part of the EdTech ecosystem. The accelerated employment opportunity created by EdTech, which allows Indian professionals to create value globally, is particularly evident in the context of Covid-19 induced job losses in 2020,” the IAMAI said in a statement Tuesday, quoting data collected by the IEC.
Referring to data released by the Centre for Monitoring Indian Economy (CMIE), which pegged the rate of unemployment in India in January to be 6.57 per cent, the statement further said that the Edtech sector has contributed significantly in bringing down the rate of unemployment.
“From an unemployment rate of 7.11 per cent in the first phase (of the Covid lockdown in March 2020, according to CMIE data), this has now declined to 6.57 per cent, the lowest since March 2021 according to CMIE. The Indian start-up ecosystem has generated tremendous employment opportunities during challenging times and EdTech has emerged as a significant job creator, as per IEC data gathered from its members,” the IAMAI statement added.
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‘Two-pronged approach to improve employment opportunities’
The statement also said that the Edtech sector has been working on a two-pronged approach to improve overall employability and opportunities for the Indian workforce — first by hiring talent to work in the Edtech companies and second by training learners to be better professionals.
“While the sector itself has been hiring the best-in-class talent to drive business growth, EdTech companies have also been training learners across the spectrum to secure better jobs through training and upskilling. In addition to direct employment, Indian EdTech companies have also been responsible for creating ancillary job opportunities to support business operations and growth,” it added.
The positive tone and optimisim of the IAMAI was shared by Edtech players. “With the outcome-driven business approach we follow, we are sure to create the strongest employment pull within the country for propelling maximum economic growth,” Mayank Kumar, Co-Founder & MD, upGrad, and Chair of the IEC, was quoted as saying in the statement.
Divya Gokulnath, Co-Founder of BYJU’S and the Co-Chair of the IEC too expressed satisfaction at the progress made by the EdTech sector. “We are glad to empower the youth with diversified job opportunities, helping secure their future while fulfilling their ambitions of innovating for India and the world,” he said, as part of the IAMAI statement.
(Edited by Poulomi Banerjee)
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