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Industry Landscape
The overseas education consulting industry is experiencing significant growth, driven by increasing aspirations for global education, particularly from developing nations like India. Technology plays a crucial role in outreach and service delivery. Competition is intense, with established players and new entrants vying for market share. Regulatory changes and visa policies of destination countries are key factors influencing the market, alongside economic conditions affecting affordability. The focus is shifting towards personalized services and comprehensive support.
Total Assets Under Management (AUM)
Number of Indian students studying abroad in India
~Approximately 770,300 (2022-23)
(28.3% CAGR)
- Growth fueled by rising disposable incomes.
- Increased awareness of global opportunities.
- Government initiatives supporting internationalization.
Total Addressable Market
30 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Counseling Platforms
These platforms leverage AI to personalize university recommendations, automate application assistance, and provide instant answers to student queries, revolutionizing the initial consultation and application phases.
Virtual Reality (VR) Campus Tours
VR technology allows prospective students to experience immersive virtual tours of international university campuses and facilities from India, enhancing decision-making and pre-departure familiarity.
Blockchain for Credential Verification
Blockchain can secure and streamline the verification of academic transcripts and other credentials, reducing fraud and accelerating the application process for both students and universities.
Impactful Policy Frameworks
National Education Policy (NEP) 2020
The National Education Policy (NEP) 2020, implemented by the Indian government, aims to transform the education system, promoting internationalization of education and encouraging Indian universities to set up campuses abroad and inviting foreign universities to establish campuses in India.
This policy encourages greater outbound student mobility and collaboration, potentially increasing the demand for overseas education consulting services and fostering partnerships with foreign institutions.
RBI's Liberalized Remittance Scheme (LRS) Amendments (Ongoing)
The Reserve Bank of India (RBI) periodically reviews and amends the Liberalized Remittance Scheme (LRS), which governs the maximum amount of money Indian residents can send abroad for various purposes, including education, with recent discussions on bringing overseas education under Tax Collected at Source (TCS) provisions.
Changes in LRS limits or taxation (like increased TCS) directly affect students' ability to fund their education abroad, impacting affordability and demand for high-cost destinations.
Indian Government's Focus on Skill Development and International Collaborations (Ongoing)
The Indian government continues to emphasize skill development and fostering international collaborations to make Indian youth globally competitive, leading to various agreements and initiatives with foreign governments for student exchange and mutual recognition of qualifications.
This focus can lead to more structured pathways for Indian students to study abroad and potentially ease visa processes for specific programs, broadening the market for consultancies.
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