IIT coaching classes a Rs 10k cr industry?
3 Jul 2008, 0000 hrs IST,TNN NEW DELHI: Coaching for admission to the IITs and other engineering colleges has acquired the status of a big industry in India. According to the Associated Chambers of Commerce and Industry, the size of the industry is Rs 10,000 crore. ASSOCHAM’s conclusion is based on the assumption that six lakh students attend these classes every year and the average cost for each student is Rs 1.7 lakh, a spokesman for the industry body told TOI. The staggering sum of Rs 10,000 crore being netted every year by private academies who coach students for admission tests can fund 30 to 40 new IITs, ASSOCHAM said. Calling for deregulation of higher education, ASSOCHAM president Sajjan Jindal said the beneficiaries of the current system were those running big educational institutions and coaching centres. "The amount of money which goes to these institutions is enough to open 30 to 40 cwith lots of seats that can ensure admission to average candidates," he said. Th...