From the Editor

Ask any consumer of education (i.e., people with school or college going kids) if he thinks education is a profitable business and the answer will be a resounding yes. The share of education in most household budgets has risen substantially in recent years. That's not only because Indians are getting better educated, but also because getting educated is becoming more and more expensive.

Businessmen, entrepreneurs and investors have swarmed the education sector in the past few months suggesting that education has become an even better business than it was before. So, why are we in Business Today so surprised? Actually we aren't. We are only a bit amused, or maybe even confused. Because so much of entrepreneurial and investment activity is happening in a sector where profit making is either barred (schools and college education) or is looked down upon (other forms of education).

In reality, most institutions do make profits, but they aren't allowed to say so. Our cover story brings out the rather uniquely exciting phase that the education business in India is entering into. The interplay of demography, prosperity, technology and changing structure of the economy (the services sector, which is most knowledge-intensive, is growing the fastest) points to an even bigger boom in the education business in future.

The government's concern is valid: will the pursuit of profit make education barons forget the objective of improving quality and access of education? Experts feel that profit is being - and will continue to be - made whether the government allows it or not. It's better to recognise it, so that the focus can then be solely on quality and access. Our package will take you through the stories of education czars, opinions of experts and all the action unfolding on the policy front. Keep in mind that our profiles are not an endorsement of the institutions or its promoters, but only an account of their business success.

On a different note, the downturn has been quite an education for India Inc. There are companies that have learnt the lessons from the downswing very well and are busy transforming themselves like never before. Baba Kalyani of Bharat Forge is one such learner. Biocon, India's best-known biotech company, is also in the midst of a complete makeover. The story of CA is most peculiar. It was a start-up that became a giant, only to reduce itself to a start-up and is trying again to become a giant. Also read how and why India is central to the CA's efforts at coming close to being the world's third-largest software company it once was. Heard of a company that believes in mentoring entrepreneurs among its staff and outside? Look no further.