Increasing Number of Public Private Partnerships to Increase Revenue and Coverage of the Vocational
Ken Research Pvt. Ltd.
business research, Market Research Company, business market research
The Indian vocational training market has continued to evolve through government policies and regulations. Industrial cooperation and private partnerships have also been major factors contributing to the continuous growth of the vocational training market in India.
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.
Read more: http://www.kenresearch.com/education/learning/india-vocational-training-market-research-report/516-99.html
business market research
, business research
, Market Research Company
, Market Research Survey
, Vocational training, english training, wellness and healthcare, retail, hospitality