India's higher education sector has undergone a significant structural expansion over the past decade, with student enrolment crossing 4.5 crore in FY24, women nearing equal representation, and disadvantaged communities accounting for a majority of enrolled students, according to an analysis by SBI Research released on 30 September 2026. The data points to a widening access base — though critical gaps in public funding and faculty vacancies temper the progress.

Institutional Growth Across the Board

The number of universities in India rose to 1,289 in FY24 from 723 in FY14 — a near-doubling over a decade. Colleges expanded to 48,246 from 36,634, while standalone institutions grew to 15,221 from 11,664 during the same period. The count of premier institutions — Indian Institutes of Technology (IITs), Indian Institutes of Management (IIMs), and National Institutes of Technology (NITs) — rose to 76 in FY26 from 59 in FY14.

Women and Marginalised Communities Driving Enrolment

Of the 4.5 crore students enrolled in FY24, men and women accounted for nearly equal shares — a milestone in a country where women's higher education participation lagged significantly as recently as two decades ago. Notably, women outnumbered men in science at the undergraduate level, and their share among PhD students was nearly on par with men. Students from Scheduled Castes (SC), Scheduled Tribes (ST), and Other Backward Classes (OBC) together accounted for approximately 62 per cent of total enrolment — a figure that reflects both demographic weight and the cumulative impact of reservation policies.

IIT and IIM Placements and Salaries More Than Double

Placements from IIMs rose to approximately 13,700 in FY24 from 7,500 in FY16, while placements from IITs climbed to about 17,500 from 9,500 over the same period. Median salaries across IIMs, IITs, and NITs more than doubled between FY16 and FY24, with the median salary at IIMs crossing ₹40 lakh in FY24. This comes amid growing competition for top-tier talent from global technology and consulting firms recruiting on Indian campuses.

Faculty Shortfall and Funding Gap Remain Concerns

The number of teachers rose to 17.3 lakh in FY24 from 13.7 lakh in FY14, with women comprising 45 per cent of the teaching workforce. However, about one-third of sanctioned teaching positions in centrally funded universities and institutes remain vacant, with vacancies particularly acute at the professor level. This is not a new challenge — successive parliamentary committees and UGC reports have flagged the same structural deficit for years. SBI Research also noted that higher education's share of total government expenditure has remained around 1 per cent in recent years, calling for a meaningful increase in public spending.

Reforms Proposed: NTA, Constitutional Amendment, Regional Parity

The report put forward several policy recommendations, including making the National Testing Agency (NTA) a statutory body — a proposal that has gained urgency following scrutiny of examination irregularities in recent years. It also suggested examining a constitutional amendment to enshrine a right to free and fair educational opportunity. Additional recommendations include reforms to examination systems, stronger industry-academia linkages, expansion of vocational training, and reducing regional disparities in student-teacher ratios. All three dimensions — funding, governance, and equity — will need to move together for the sector's expansion to translate into lasting human capital gains.