India’s Flourishing International Schools Market
By Freddie Cloke
Since 2014, the number of international schools in India has nearly doubled. Now, with over 900 schools that cater to over 416,000 students the market growth shows no signs of slowing down. With an economy on track to become the world’s third-largest by 2027[1], new international schools are opening each year across the country as families look to invest in high-quality education for their children. This economic growth combined with the changing landscape of government policies and a growing demand for global curricula, makes the prospects look excellent for international schools in India.
The emergence of a new middle class
Recent findings indicate that between 2004 and 2022 the number of middle-class households in India doubled from 14% to 31% and is projected to rise to 643% by 2047[2]. This rapid economic growth is cited by schools leaders in India as the main factor behind the expansion of the international schools market[3].
In the last 5 years, the number of international students has grown by 40.5% far exceeding the global average from the same period. With parents willing to spend a substantial amount of their income on quality education for their children, a range of international schools offering education at a variety of price points have begun to emerge across the country.
Pathways to Higher Education
International education is seen by many parents in India as the best pathway to facilitate their aspiration of sending their children overseas for higher education. With parents setting their sights on universities in the US, UK and Canada, selecting an international school that offers related curricula is a huge draw. The most prevalent foreign curriculum currently on offer in India is Cambridge but there has been significant growth for the IB curriculum particularly at the Diploma programme level.
There has also been a proactive approach from the Indian government to integrate aspects of foreign curricula into the national one in recent times. Successful trials of the International Baccalaureate Diploma Programme (IBDP) in Delhi have elevated its reputation both locally and nationally and has been a key factor behind its growth in the country.
Challenges faced by international schools
Despite the growth of international schools and many foreign institutions opening their campuses within the country, navigating the Indian regulatory environment remains a challenge. Several school heads have reported a lack of clarity on the status of their institutions and strict regulations on foreign monetary transactions continue to prove difficult to traverse.
A bright future
Despite the regulatory challenges, the market continues to flourish. ISC Research is currently aware of 26 future schools planned to open in India with prestigious names such as Whitgift (SageBrook Academy) and Shrewsbury International School both set to open their doors in 2025. Coupled with the recent openings of Wellington College International Pune and Harrow International School, Bengaluru, India is a proven destination for independent schools looking to expand their horizons.
Looking at the data and the trends behind it is clear that the story of international schools in India is one of growth, possibility, and opportunity. With a booming economy, an increasing expatriate population and a country that puts a high value on education, India’s flourishing market shows no signs of slowing down.
Freddie Cloke is the Head of School Development at ISC Research, who is responsible for originating new international school development and acquisition opportunities. He advises Education Investors, Real Estate Developers, School Operators, School Groups, Foreign Governments, and Independent Schools on their K-12 market strategies. He spends much of his time travelling globally to visit schools and investors to advise on new development pathways.
Freddie will be attending IPSEF Global 2024 in June speaking on the Emerging Markets and India Panels.
[3] https://iscresearch.com/product/india-report-2023-24/
Source
Freddie Cloke, Head of School Development, ISC Research
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