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Spending on education, for a country like India, is abysmally low at 3 per cent of GDP. Despite higher allocation for education in the past decade there is need for the government and private sector to invest aggressively in the sector, Deepak Parekh, Chairman, HDFC, said.
HDFC launched its first school, ‘The HDFC School’ in Gurgaon for academic year 2015-16. The school is taking admissions from primary to grade III this year and will eventually offer nursery to grade 12 under the national curriculum framework affiliated to the CBSE.
In a statement, Renu Sud Karnad, Managing Director, HDFC and who is also leading the company’s foray in the education sector said, “Of the total schools in India only 8 per cent are privately run but they account for 40 per cent of total students enrolled in schools. This demand-supply mismatch suggests that more privately owned ethically run institutions can bring about a positive influence in the development of Indian school segment. With the launch of HDFC School, we are starting with some baby steps to build an education organisation which has a philosophy of providing high quality education to all.”
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