India's higher education sector has experienced unprecedented growth over the last decade, expanding across universities, colleges, student enrolments, and faculty numbers. A comprehensive report by SBI Research revealed on Tuesday that student enrolment crossed 4.5 crore in FY24, driven by strong participation from women and marginalized communities. The analysis highlights significant progress in job placements, salaries, and institutional infrastructure across top national institutes like IITs and IIMs. However, the report also emphasizes critical areas needing urgent reform, including high faculty vacancies and low public spending on education.

What Happened?

The higher education landscape in India transformed remarkably between FY14 and FY24. According to SBI Research, the total number of universities in the country increased from 723 to 1,289, while colleges grew from 36,634 to 48,246. Standalone educational institutions also saw a notable rise from 11,664 to 15,221 during the same ten-year timeframe. Top tier premier institutes, including Indian Institutes of Technology (IITs), Indian Institutes of Management (IIMs), and National Institutes of Technology (NITs), expanded their presence from 59 in FY14 to 76 in FY26.

Along with institutional expansion, student diversity and gender parity achieved major milestones. Total student enrolment reached over 4.5 crore in FY24, with men and women sharing nearly equal proportions of admissions. Students belonging to Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBC) represented nearly 62 percent of total student enrolments. Women made remarkable gains across various disciplines, outnumbering male students in science courses at the undergraduate level and matching them in doctoral research programs.

Employment prospects and faculty strength also witnessed steady improvements over the decade. The overall number of teachers in higher education rose from 13.7 lakh to 17.3 lakh, with women making up 45 percent of the teaching staff. Placements at premier institutes saw huge increases; IIM placements grew from 7,500 in FY16 to 13,700 in FY24, while IIT placements jumped from 9,500 to 17,500. Furthermore, median packages across these elite institutions more than doubled, with the median salary at IIMs crossing Rs 40 lakh in FY24.

Key Highlights

The number of universities in India grew sharply from 723 in FY14 to 1,289 in FY24.
Total student enrolment in higher education crossed 4.5 crore in FY24 with nearly equal male and female representation.
Social inclusion improved significantly, as SC, ST, and OBC students accounted for 62 percent of total enrolments.
Women outnumbered men in undergraduate science programs and achieved near-equal representation in PhD courses.
Placements and median salaries more than doubled at elite institutions like IITs, IIMs, and NITs over the past decade.
About one-third of sanctioned teaching positions in centrally funded institutions remain vacant, particularly at the professor level.
SBI Research urged the government to increase public spending on higher education beyond its current share of nearly one percent.

Why Does This Matter?

The rapid expansion of India's higher education system is vital for the common public because it directly opens up better learning and job opportunities for young people across the nation. Increased representation of female students and backward communities means that higher education is becoming more inclusive and accessible to families from all economic backgrounds. Higher median packages and robust placement numbers offer families a stronger return on educational investment and pave the way for upward social mobility.

However, the report highlights important challenges that affect students and parents on a daily basis. Despite institutional growth, high teacher vacancies and regional disparities in teacher-student ratios can impact the quality of classroom teaching. SBI Research's recommendations for statutory status for the National Testing Agency, examination reforms, and higher public spending aim to protect students from administrative hurdles and ensure equal, high-quality educational opportunities for every citizen in India.