The Indian start-up ecosystem has generated tremendous employment opportunities during challenging times and edtech has emerged as a significant job creator.
The Indian edtech sector has created over 75,000 jobs in just the past five years, according to data collected by the Indian EdTech Consortium (IEC) formed under the aegis of the Internet and Mobile Association of India (IAMAI).
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.
From an unemployment rate of 7.11% in the first phase, this has now declined to 6.57%, the lowest since March 2021, according to Centre for Monitoring Indian Economy (CMIE).
The edtech sector has been working on a two-pronged approach to improve overall employability and opportunities for the Indian workforce. 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.
Mayank Kumar, co-founder and MD, upGrad, and chair of the IEC said that India’s edtech sector has been extremely purpose-driven and is one of the most in-demand industries for multiple stakeholders.
“It has been at the forefront of creating and delivering excellence. Therefore, 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,” he added.
“The aspirations of young India are infinite – both from metros and smaller towns across the country. 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. As global recognition for the potential of India’s EdTech ecosystem increases alongside investments and consolidation, we look forward to creating an inclusive job environment for millions of talented Indians. It’s an incredible opportunity to contribute to India’s potential, reputation, and GDP,” noted Divya Gokulnath, co-founder of BYJU’S and the co-chair of the IEC.