Wednesday, September 28, 2022

India’s EdTech industry: Shining hope or vicious debt trap?


Caught in the swirl of Indian EdTech’s murky water, many families have been lured with false promises into vicious debt traps. If one sector has grown exponentially during the peak of the pandemic and afterwards in India, it is the country’s EdTech sector, which happens to be among the fastest-growing in the world. While it is believed to have become the catalyst of India’s growth for India’s education and digital dominance in the segment, there is a darker picture no one is talking about. The EdTech industry is sending many families into high debt with false promises that it cannot keep. The Indian EdTech industry is believed to have raised $16.1 billion in VC funding, which is a 32X increase from the $500 million received in 2010. Since 2014, India witnessed the launch of 4,450 EdTech startups, among which six firms (Byju’s, Unacade...
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