India has made a huge progress in terms of increasing primary education attendance rate and expanding literacy to approximately two thirds of the population.[2] India's improved education system is often cited as one of the main contributors to the economic rise of India.[3] Much of the progress in education has been credited to various private institutions.[4] The private education market in India is estimated to be worth $40 billion in 2008 and will increase to $68 billion by 2012.[4] However, India continues to face challenges. Despite growing investment in education, 35% of the population is illiterate and only 15% of the students reach high school.[5] As of 2008, India's post-secondary high schools offer only enough seats for 7% of India's college-age population, 25% of teaching positions nationwide are vacant, and 57% of college professors lack either a master's or PhD degree.[6] As of 2007[update], there are 1522 degree-granting engineering colleges in India with an annual student intake of 582,000,[7] plus 1,244 polytechnics with an annual intake of 265,000. However, these institutions face shortage of faculty and concerns have been raised over the quality of education.[8]
A multilingual web portal on Primary Education is available with rich multimedia content for children and forums to discuss on the Educational issues. India Development Gateway Primary Education [9] is a nation wide initiative that seeks to facilitate rural empowerment through provision of responsive information, products and services in local languages.
Three Indian universities were listed in the Times Higher Education list of the world’s top 200 universities — Indian Institutes of Technology, Indian Institutes of Management, and Jawaharlal Nehru University in 2005 and 2006.[10] Six Indian Institutes of Technology and the Birla Institute of Technology and Science - Pilani were listed among the top 20 science and technology schools in Asia by Asiaweek.[11] The Indian School of Business situated in Hyderabad was ranked number 12 in global MBA rankings by the Financial Times of London in 2010[12] while the All India Institute of Medical Sciences has been recognized as a global leader in medical research and treatment.[13]