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IEC-member companies invest INR 3500 crores in Edtech in FY22

IEC-member companies invest INR 3500 crores in Edtech in FY22


IEC-member companies invest INR 3500 crores in Edtech in FY22

India Edtech Consortium (IEC), the self-regulatory body formed under the aegis of IAMAI, revealed the results of a recently conducted Survey on teachers to assess the efficacy and quality of education the Edtech companies are driving within the country. In self-reported data, IEC member companies have also highlighted that a spend of about INR 3500 crores was made during FY22 to enhance the overall learning ecosystem comprising teachers, content, pedagogy and faculty.

“It’s strange to see that people want qualified teachers for their children but they themselves do not want to qualify for the role. Teaching as a profession has taken a backseat, which of course is an alarming situation. Therefore, IEC reached out to such practitioners to assess how well-placed they are in their profession,” said Mayank Kumar, Chair at IEC. “The survey results reflect the operational efficiency of the ecosystem through the efforts taken by Edtech companies which have remained at the forefront to provide teachers with an all-inclusive learning environment through L&D sessions, group discussions, and market-relevant study materials for enhancing their personalised teaching capabilities,” he added.

The India Edtech Consortium affirms its belief that every learner shall have access to quality and affordable education, which not just improves academic performance but makes an individual future ready. The consortium also aims to catalyze public-private efforts in a technology-driven approach towards maximizing teaching-learning outcomes. At its core, IEC is committed towards nation-building by supporting national efforts to make India self-reliant and the global education hub for growth & innovation.

The government has increased its education budget in 2022, thereby exceeding INR 1 lakh crore (US$ 13.08 billion) for the first time, according to information presented to the Rajya Sabha. Interestingly, the total investment made by IEC member companies towards the betterment & enhancement of the learning ecosystem is about 3-4 per cent of the overall government budget, reinforcing their commitment to driving student career outcomes.

The National Teachers Survey was conducted amongst 700+ teachers who work with IEC member companies across metros and non-metros to evaluate the level of job satisfaction they have experienced amid such dynamic times. It revealed that 86 per cent of teachers believe that the emergence of Edtech companies has expanded job opportunities for them, while 82 per cent can’t believe that technology has enhanced their teaching capabilities. 62 per cent of teachers feel that their work-life balance has improved in the post-pandemic era – a trend observed in both metros and non-metros. 74 per cent of teachers expressed that Edtech companies are helping them enjoy more flexibility in terms of work hours. However, 10 per cent also cited that their work-life harmony has been disturbed amid times when the industry is evolving at a neck break pace.

A teacher working with one of the member-Edtechs, said: “The post-pandemic world saw greater adoption of technology and the effects were felt everywhere including the education sector. We immediately had to switch gears to operate online so as to maintain the uninterrupted flow of education, which indeed was a big responsibility. We learned the know-how of Edtech platforms and tools which initially appeared tricky because of the offline set-up we were privy to, but honestly, the online way forward is far more convenient, and offers a lot of room to learn constantly.”

Divya Gokulnath, Co-chair at IEC, sees this survey as yet another validation of the liberating and empowering potential of EdTech for India’s teachers. “We are delighted to have this data-driven validation of the positive impact of EdTech on India’s teachers. Not only have tech-enabled teachers been able to teach better and reach more students, but they have also benefitted from more job opportunities and higher salaries. The numbers have spoken. The golden age of India’s teachers has returned,” she said.

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