The Rise Of Edtech: Why We Need To Regulate?
Given the circumstances of virtuality after COVID-19, one industry that has seen considerable growth and investment has been that of the EdTech companies. India serves a great market for these companies and start-ups, according to the data provided by IBEF, "the Indian EdTech industry was valued at US$ 750 million in 2020 and is expected to reach US$ 4 billion by 2025 at a CAGR of 39.77%". The District Consumer Disputes Redressal Forum was approached with a complaint of inadequacy in service against an EdTech company in "Joginder Singh Saini v. Byju's Think & Learn Pvt Ltd". In a reference, the National Consumer Disputes Redressal Commission stated that educational institutions are not covered by the Consumer Protection Act; however, coaching institutes provide a "service" that must be distinguished. Consequently, a data protection act and a specific legislation for the EdTech industry should be introduced with utmost priority bringing such companies under its umbrella.
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