The total number of Indian students who went for education abroad crossed 7.5 Lakhs. There was an increase of 75% in those who went in 2022 from 60% in 2018 for moving abroad for education. In the 21st century education industry is a growing phenomenon. The scope and pace of education are booming worldwide.
Many Indian students are moving abroad to the UK, Australia, Canada and the USA for their studies, as per the demand, employment and career opportunities are increasing. The side factors include the expanding financial capacity of middle-class families, the quality of education and the short supply of goods that are also in demand now.
Moreover, China is among the top in the supply of internationally mobile students whereas India is also playing a major role in global student mobility and is attracting these mobile students. As per the trends in India, it is migrating abroad for foreigners and education coming to India for their higher education. There was a 65% increase in Indians travelling abroad for education in 2017.
Students who travel internationally to attend foreign universities are not required to register in Indian Embassies. Additionally, the students who mention education as their purpose of visit or for the sort of visa for the country destination while clearing their immigration, also arrive at the data on students moving abroad for education.
As per the trend in 2022, the data from the parliamentary response, there was an increase of 65% in students moving abroad for educational purposes as compared to the data in 2017.
Moreover, in 2017, 4.5 lakh students moved abroad which increased to 5.8 lakh students in 2019, then due to COVID 19 there was a downfall of 2.9 Lakh in the year 2022. After covid impact, when situations turned out to be normal and the universities got reopened there was a rapid increase of 4.4 and 7.5 Lakh students travelling internationally in the years 2021 and 2022 respectively.
Also, as a parliamentary response, approximately 20, 366 students availed of study loans in the year 2012 – 2013 which rose to approximately figure 62,947 in 2019-2020. But due to covid impact, there was a decline in the number of students who availed of study abroad loans, the declining number is 51,748 in the year 2020 – 2021. However, then again in the year 2021 – 2022, there was an increase of 7576 crores.
Furthermore, the preferred destinations for students moving abroad for higher studies are the UK, Australia, Canada and the USA. While minimal students are preferring India as their study-abroad destination.
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