IAMAI Establish IEC: As per updates, the Internet and Mobile Association of India (IAMAI) announced the formation of the India EdTech Consortium (IEC) that includes leading edtech companies like Byju's, Simplilearn, Unacademy, upGrad, Vedantu etc. The move to set up IEC comes at a time when Indian edtech players are creating immense value for the global audience.
As per the government's recent advisory, the IEC will ensure that every learner shall have access to quality and affordable education, which not only improves their academic performance but also makes them future-ready.
Statement Released by Government
With consumer interest at the core of the consortium, the edtech companies have committed to observe and adhere to a common 'Code of Conduct' and establish a two-tier grievance redressal mechanism to ensure that the positive impact of the industry reaches every deserving consumer while protecting their interests and promoting their rights.
IAMAI President Subho Ray's Statement
President Subho Ray stated that "IAMAI and members of the IEC are deeply committed to ensuring ethical standards to protect learners on online educational platforms. IEC seeks to empower the learners by not just helping them make informed decisions but by also having their grievances redressed timely."
He further added that the formation of this self-regulatory body is an important step towards protecting learners as more and more students, teachers and stakeholders are becoming a part of the online education ecosystem.
Indian EdTech Ecosystem Impact
The overall Indian edtech ecosystem impacts over 500 million school students, college students and working professionals across India. At this scale, the ecosystem must follow a framework that will protect the rights of learners and all edtech companies are committed to this.
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Indian edtech operators have been solving for accessibility and affordability through quality courses from the best teachers, instructors and faculty members to ensure that students across all age groups are benefiting from the innovation in the education sector.
upGrad co-founder and MD and Co-Chairperson of IAMAI EdTech Committee's Statment
Mayank Kumar, upGrad co-founder and MD and Co-Chairperson of IAMAI EdTech Committee said with the sole purpose of improving the delivery of education services, it is now crucial to foster and sustain stakeholder trust by safeguarding their interest as a practice. "This initiative will go a long way in strengthening the EdTech sector and establishing India as the teaching capital of the world.”
Indian ed-tech sector Has Grown
As per media reports, Vamsi Krishna, co-founder and CEO of Vedantu stated, the Indian ed-tech sector has grown considerably over the last two years with funding and consolidations strengthening the ecosystem. "However, while business growth is critical, so is consumer protection since this will allow students and parents to make more informed decisions about the future.
Therefore, as part of the newly institutionalised IEC, we will build a sounder and more ethical ecosystem for students so that we can ensure their safety and mitigate any risks they may encounter in their journey to be future-ready."
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