Citing the Australian education service firm Navitas, reports indicate that the number of Indian students studying overseas was six million in 2019 and is projected to rise to over nine million by 2030, with an annual growth rate of four percent.
India became the world’s most populous country last year, surpassing China, and now sees a million people or more turning 18 each month.
The number of Indian students enrolled in U.S. universities during the 2022 to 2023 academic year reached around 269,000, a 35 percent increase from the previous year.
The British financial consulting firm Oxford Economics analyzed that the number of middle and high income households in India is increasing by around ten percent each year, noting that this growing wealth has created a new trend in the study abroad market.
According to the World Bank, India's GDP per capita grew from USD$469 in 2002 to $2,410 in 2022.
Indian students are also expected to spend substantial amounts on studying abroad.
Data from the Indian Student Mobility Report by University Living, a provider of specialized services for international students indicates that Indian students are projected to spend $70 billion on international education by 2025.
