Public Private Partnership has led to a major scheme
initiated by the DGET, Ministry of Labor and Employment that is upgrading some
of the ITI’s into Centers of Excellence (COE). The policy reforms employed by
the government have not only made vocational education an important part of the
education system but has also carved out a path of growth for it in the future.
Additionally, the huge investments from the government in the vocational
training market have attracted several private players which would lead to more
public private partnerships in the vocational training market. Apart from the
central government, vocational training has become the primary focus of the
state government as well. The vocational training industry in India has
experienced an average annual growth rate of 25.2% over the period
FY’2008-FY’2013.
The courses offered in the vocational training market are
spread across different sectors. Some of the major sectors are English
Training, Retail, Wellness & Healthcare, Hospitality and others. One of the
most promising sectors for vocational training is the Wellness and Healthcare
sector. The sector presently contributes 20% to the total revenue of vocational
training market in India. The major reason for its growth has been the
increasing demand for manpower in this sector which has led to the popularity
of courses such as spa therapy and skin therapy. The Indian Wellness sector is
highly influenced by the west and would continue to grow at a rapid rate in the
years to come.
The inclusion of vocational training policy reforms in the
twelfth five year plan by the Government of India would also lead to the growth
and overall development of the vocational training market. Furthermore, the
reforms also keep a check on the developments in the vocational market and helps
regulating the market on the whole. Along with this, the up gradation of the
different schemes employed in line with the current market trends and demand
would also lead to a fast growth of the vocational training market in future
times.
“It is expected that the increase in the number of public
private partnerships on account of heavy investments from the government of
India and the growing popularity of the wellness and healthcare sector would
lead to a rise in the revenue and the coverage of the Vocational Training
Market in India”, according to the report published by Ken Research.
The report
titled “India Vocational Training Market Outlook to 2018- Driven by Rising
Demand for Skilled Manpower” provides detailed overview of the market past and future performance of
Vocational training market and helps readers to identify the ongoing trends in
the industry and anticipated growth in future depending upon changing industry
dynamics in coming years. The report will help Industry consultants, vocational
Institutes, education service providers to align their market centric
strategies according to ongoing and expected trends in the future.
Source: http://www.kenresearch.com/education/learning/india-vocational-training-market-research-report/516-99.html
Contact Person: Ankur Gupta
Email Id: ankur@kenresearch.com
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