…When the size of “Coaching for admission to the IITs and other engineering colleges” industry is Rs. 10,000 Crore. ASSOCHAM says:
“The amount of money which goes to these institutions is enough to open 30 to 40 IITs with lots of seats that can ensure admission to average candidates,”
Of course, it doesn’t include coaching institutes for management tests, civil services exams, other government services, international tests, medical entrance tests, computer courses, et ceteras.
Also: The Economist has an article on how to learn the right lessons from other countries’ schools.