The vocational system of India education system has led to tough competition in the industry. The working professionals do not want to get behind the freshers who are educated and trained with the latest skills and technological know-how. The launch of satellite-based management education has aided several senior managers who never went to a business school. The aid is becoming more focused now with a rise in the number of specific courses and that has led to a surge in enrolments. The country's premier B-schools have joined hands with networking services companies such as Hughes Communication India (HCIL), Reliance Communications and NIIT to offer executive management education programs. In an interactive distance learning classroom, live courses are delivered through the use of high quality video, audio and data tools from studios set up at the institutes reaching out to students in their cities.
The foreign players have earmarked their presence in this year with their preferred mode of delivering executive education programs through VSATs which has showcased ~% growth rate in FY’2014 where the revenues grew from INR ~ million in FY’2013 to INR ~ million during FY’2014. Despite the high costs and the inconvenience, the customer base was more interested in the brand certifications. The online segment is expected to register a high growth in the coming future. The executive education is expected to increase their penetration in tier 2 and tier 3 cities in India as well.
Emerging India has faced a dearth of general management skills to compete internationally.
The economic performance has showcased that India has excellent long term growth prospects. There is a need to capitalize the growth opportunities by the strong business leadership through the skilled managers. With this expertise, many foreign players have emerged into India executive education market. Harvard Business School, with its ongoing commitment to explore groundbreaking best practices and share its research globally have started a new program of delivering a full HBS experience in new state-of-art classroom at the Taj Lands End in Mumbai. INSEAD With the economic improvement and globalization beckoning it, India has witnessed an increase in the demand for business education to overcome the challenges and explore all potential opportunities in the Indian scenario. With this growing demand, many corporate and B-school have entered in the India executive education market.
According to an industry veteran, “With economic sentiments improving, the need to keep abreast with new developments and enhance skills at all levels of management is important today, especially for senior professionals. This has resulted in the growing interest in executive education.”
The growth in virtual education is likely to infuse the market growth since candidates can enroll for online executive education courses. This will be backed by the acute shortage of credible faculty and the resulting costs will lead to greater acceptance of online courseware” according to the Research Analyst, Ken Research.
The report titled "India Executive Education Market Outlook to 2020" provides detailed overview on the Executive Education Market and will help B-Schools as well as private institutes, government, foreign MDPs providers, and other stakeholders to align their market centric strategies according to ongoing and expected trends in the future.