The business of online education is becoming so big and in demand that many large foreign universities and venture capitalists are jumping on board. It is estimated that the online education market in India currently is generating nearly a billion dollars in revenue each year. At this point, much of the online education offerings here are in engineering, management, human resources, finance and mass communications.
Online offerings in India are helping its citizens to make up for what is perceived by some as a poor education system, at least in some areas of the nation. Also, many young Indians are discovering that they simply cannot afford to pay for a regular two or four-year education at a regular campus. Online education provides a much better value for the dollar for many Indians. Many students here believe that online education gives them an opportunity to level the playing field and compete with graduates from larger universities. They are generally able to access the same sort of educational programs online that are available at expensive, land-based campuses, at a much lower price.
Some of the most popular online education providers in India include the Indian Institutes of Management, and Sikkim Manipal University, which is located in northern India. Also available are several private, online education companies, such as Educomp, Everonn Systems, and TutorVista.
Some of the foreign universities that are jumping into the Indian online education market include Carnegie Mellon University, which teamed up with Shri Sivasubranmaniya Nader College in 2007. Together these two universities are offering many online IT classes. Also, MIT has recently come to India, and Cornell University has made a deal with an online education service in south India called Easy Educate. Together they offer classes in management, finance, and human resources.
Venture capitalists are pouring in tens of millions of dollars into online education ventures in India, too. They understand, as do Indian students and foreign universities, that there is a great fuutre in online education in India.