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Impact of COVID19 on EdTech and Learning platforms in IndiaEdTech has been around for nearly the last 15 plus years in a meaningful way.Learning methodology today typically covers a structured curriculum,interactive classes, labs, project work, and finally assessments. Technologyhas scaled to a level where all of this happens seamlessly online and deliversa great learning experience and great outcomes. This era of EdTech is aboutthe use of technology to highly personalize the learning experience, try newapproaches, and to scale education in unimaginable ways. Present-dayclassrooms have moved beyond the clunky computers that were once the norm andare now tech-infused with tablets, interactive digital courses, and evenrobots that can take notes and record lectures for students who are not well.And it looks like technology in the classroom is here to stay — the majorityof teachers believe tech is going to have a major impact on the way theyeducate in the near future. Impact of COVID-19 on the learning platforms inIndia The immense rise in EdTech users due to the nationwide lockdown hasprovided a significant push to the sector in India, which is relied upon todevelop at a CAGR of 52% to turn into a 1.96 billion dollar industry by 2021.The key development drivers propelling EdTech in India are the capacity toserve a large audience at essentially lower costs compared to traditionalclassroom learning, critical growth in internet and Smartphone infiltrationacross India, steady growth in disposable income of the Indian families.While the countrywide lockdown — due to the pandemic —shutting down of schoolsand universities saw the emergence of many EdTech platforms and services and arise in adoption. The EdTech sector saw major investments and spending bygovernments, schools, universities, students, and professionals globally.While the growth has been tremendous, the industry suffers from challengessuch as scaling up rationally, defeating infrastructure barriers, andretaining growth. Lockdown boosted innovation and investment in the EdTechSector There are around 4,450 EdTech start-ups operating in the nationpresently catering various segments including K-12, vocational, andprofessional training/skilling and school/college educational operations.While the K-12 and competitive examination segment is ruled by Indian players,the international players are centered on reskilling, vocational preparation,and certifications. A lot of innovations have been tested within the IndianEdTech industry to balance the dynamics of teachers and students from atraditional classroom to a virtual one. Technology is turning teacher-driveneducation into a more teacher-student arrangement. Smart classrooms are makingteaching transparent and equivalent for every student in a way close to thegenuine classroom-like experience. Initiatives taken by the Government topromote online learning One of the many initiatives taken by the GOI topromote E-learning is through the SWAYAM program. This initiative is designedto accomplish the three cardinal principles of the Education Policy – access,equity, and quality. The goal of this program is to connect the digital dividefor students who have not been able to join the standard knowledge economy.Lastly, Online education is here to stay – both in India and globally – inlight of principal benefits: * The physical limitation of infrastructure: By moving courses online, you are no longer limited by ‘limited seats’. * Environmentally beneficial: Without paper books and examinations, there’s a significant saving on paper, and that protects the environment by not cutting down trees for its production. * Time is money, i.e., instant content, instant results, and instant ready-retrieval: Online content can be created faster when compared to publishing books or journals. Similarly, automated marking systems are easy to implement for quick results, saving huge amounts of time waiting for traditional ways of declaring results after a long interval. Being online, the answer sheets can be recovered at any time from anywhere for either purpose of audit or re-evaluation. * Breaks down red-tape: Online enrollments, training, and assessments leave insignificant room for red-tape, bureaucracy, bias, and corruption. Conclusion The adoption of learning online with the use of technology will acceleratelike never before. The platforms available in Indian markets are looking toconquer the global audience in the coming decades. There will be offlineinstitutions and colleges; however, from a merely market-share perspective,the amount of education content that will be learned through the use of EdTechwill be multiple times the learning that will happen in the campus. The outbreak suddenly gave people a lot of time on our hands and a lot ofenergy with nowhere to focus on. Online stages are giving us all the chance toutilize this downtime to indulge in our favorite hobbies plus squeeze someextra money out of our skills: You’re an Unstoppable Talker – Start a podcast You’re a Great Gamer – Live stream is the option You’re an Avid Reader – Create audio-books You’re a style genius – Make tutorial videos You’re a talented writer – Start a blog… …and this rundown goes on, digitalization has given audiences the much-needed platform to explore their skills and also bring in cash out of it whichhas made EdTech such a big hit and everyday there are some new users helpingthe industry expand. Offline universities and colleges will also shift to launching their onlineprograms, issued in partnership with EdTech companies who will support them topower their learning delivery. The author of this article is Captain Surinder Singh, Managing Director ofMillioncenters – a social learning app The views and opinions expressed are not of IIFL Securities, indiainfoline.comRelated Tags: