Usha Martin Education & Solutions Ltd Management Discussions.

The Indian System of higher education is facing today many challenges arising out of globalization and liberalization. Globalization has a multidimensional impact on the system of higher education in India. It has underlined the need for reforms in the educational system with particular reference to the wider utilization of information technology, giving productivity dimension to education and emphasis on its research and development activities because education is an important investment in building human capital. Aspiration of India is to establish a knowledge society in the context of increasing globalization. It is based on the assumption that higher and technical education essentially empowers people with the requisite competitive skills and knowledge. It has been realized that it is the quality of education that prepares one for all pursuits of life and in the absence of an acceptable level of quality, higher education becomes a mere formalism devoid of any purpose or substance. As a result, from last century, increasing attention has been paid to quality and excellence in higher education.

India is the third largest higher education system in the world, behind China and the USA, with 37,000 institutions and 729 universities. Higher education in China having the highest enrolment in the world (nearly 23 million), is organized in only about 2,500 institutions. While the average enrolment in a higher education institution in India is about 500-600 students, a higher education institution in the United States and Europe would have 3000-4000 students and in China this would be about 80009000 students. This makes the system of higher education in India a highly fragmented one that is far more difficult to manage than any other system of higher education in world. However, other than a handful few institutions of national importance providing high quality higher education, the system is failing to produce wealth creators and creative, intellectual leaders who are much needed in all sectors of the society. Indias higher education sector has failed to map the future demand for various skills, Global Competition and Competitiveness. This is the area where e-learning and techno-vocational training can do a miracle to meet up the gap between demand and supply of the quality incumbent.

Industry Overview:

E-learning platforms are changing the Indian education landscape by addressing the demand-supply gap of both students as well as corporate employees by dispensing personalized learning outcomes, experts say. Online learning has widened the scope of education and transcended it beyond classroom boundaries. With high internet penetration in the last two years, it has taken over the traditional methods not just in the urban landscape but also in rural areas. This rapid increase in Internet connectivity in the last few years has been an important catalyst for the growth of e-learning in India and floating with the dream to be a “Digital India” in near future. A robust Internet ecosystem, with a multitude of local and global players, will help online learning make further inroads.

“In the current scenario, professionals will be required to re-skill themselves every 3-4 years to remain relevant in their evolving job roles,” said Zairus Master, CEO, Shine Learning.com, which gives access to certification courses from top global educational service providers.

At this scale, e-learning platforms are the only way forward. Professionals will need to equip themselves with relevant skills before their current skills become obsolete. Moreover, the government is adopting a series of measures to bring a technological revolution to accentuate e-learning which will ultimately lead to a major shift in the Indian education sector, experts added. “Elearning platforms are bringing a measurable difference in students engagement and performance. It is reducing gaps in the delivery of education and giving a new dimension to the education space,” Pearson India Managing Director Vikas Singh said. With the number of Indian Internet users expected to reach 250 million this year, rivalling the US and second only to China, Indias potential as a huge market for e-learning is enormous. Additionally, a large number of new users are accessing the Internet for the first time from their smartphones, which is an ideal, personalised and commerce-enabled platform for e- learning adoption. Fuelling this growth will be Indias education system, already one of the largest in the world with a network of more than one million schools and 18,000 higher education institutions. More than half of the countrys 1.2 billion population falls in the target market for education and related services.

E-learning brings unique advantages, the most prominent being the ability for online instructors to provide personalised attention to all students. This is especially critical for those students who cannot afford private face-to-face tutoring sessions or who live in rural areas where such help is not available. In a conventional set up, this is only possible when a highly skilled tutor offers one- to-one tutorials to a student. However, considering that most of the institutions have a classroom-based setup, such individualised attention becomes very difficult.

Another important advantage is that people living in smaller towns and cities can get access to the best possible learning resources from across the world, at a very affordable price. This helps create a level-playing field.

(Source: Organizations internal research data, www.researchgate.net,www.isaet.org, https:/economictimes.indiatimes.com) Company Outlook & Strategy:

Your Company is engaged in imparting training to the fresher and experienced professionals in different modules (technical and functional) of ERP. In addition to that your company is engaged to impart training on Hybris and Big Data.

Since your company is operating from Kolkata, we are suffering from the problem of enrolment of the desired number. The reasons are of the low affordability of the inhabitants and less job opportunity in the local industries followed by low level of interest and awareness.

Your Company also has started imparting training to the employees of various corporates including some of the Companies within the same Group.

Business Review:

Learning Business Segment:

• Understanding the gradual increase of the importance of e-learning and IT-enabled courses your company is continuing to impart quality training of ERP modules in a state-of-art infrastructure.

• Your company is also providing training on ERP, e-Commerce, BigData Analytics and other allied areas to the employees of its sister concerns.

• Your company has also initiated to impart training on customised ERP modules and assist the neighbouring countries to get trained and to enhance the employability skill.

Opportunities and Threats:

The new challenge before the country at the beginning of the twenty first century is to become a developed society by the year 2020, which requires that not only a vibrant economy driven by knowledge has to be ushered in soon, but also a new society where justice and human values prevail has to be created. Moreover, challenges in higher education are no longer only nation centric. They have already attained global dimensions, particularly after trade in services has been brought under the purview of the WTO regime. With the explosive growth of knowledge in the past century and with the development of handy tools of information and communication technologies as well as of other scientific innovations, competition has become a hallmark of growth all over the World. As a result, knowledge is not only going to be the driver of Indian economy, but also, it is going to permeate into all the strata of Indian society for a better quality of life and living conditions. Therefore, India has to rise to the occasion urgently and reorient its higher education system to be vibrant, competitive, meaningful and purposeful; besides, there is absolutely no substitute to quality of higher education, although the country has been faced for a long time with the serious problem of meeting the quantity needs of our society. It is, therefore, essential that a careful balancing of the two is given priority to meet the twin requirements of the society in the expected future.

However we are enthusiastic to produce skilled workers and the administrators are willing to create a congenial environment but in terms of creating employment opportunities we are still looking for in bound projects and struggling to become self-reliant. Our industries should be directed in such a fashion that our equipped professionals should no longer to look outwards for implementing their hard earned skills and expertise.

Adequacy of Internal Controls:

As a practice the company continues with the process of having internal control system which is adequate and in commensuration with the span and quality of operations of the organization. Benchmarks related to cost, quality, purchase etc. are strictly monitored to ensure a smooth and standardized operations. The synopsis of the procedures is:

• Proper Delegation of power to de-centralise the whole operation for making it more dynamic.

• Preparation of annual budget for targets for business growth which is continuously monitored throughout the year. Any deviation is properly evaluated.

• Financial control & approval based on budget allocation.

The Company also has adequate system to ensure that all of its assets are safeguarded and protected against loss from unauthorized use or disposition, and transactions are authorized, recorded, and reported correctly. The internal control system is supplemented by internal audits, review by management, documented policies and procedures.

Human Resources:

Human capital is treated as an integrated part of organizations development. Right skills and attitudes are required for achieving the objectives of the organization. Keeping those in mind your company searches the right talent as and when required and right skills are always encouraged. The company maintains the appropriate HR policies and practices as per the industry standards and creates a congenial working environment within the organization.

The Board of Directors expresses its deep appreciation for sincere efforts made by the employees of your Company at all levels for the development of its business during the year and their co-operation in maintaining cordial relations.

Cautionary Statements

This document includes certain forward-looking statements. These statements are based on managements current expectations or beliefs, and are subject to uncertainty and changes in circumstances. Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors. The Company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements that speak only as of their dates. This Report should be read in conjunction with the financial statements included herein and the notes thereto.

On Behalf of the Board of Directors

Place: Kolkata Gangotri Guha Vinay Kumar Gupta
Date: 28th May, 2019 Director (DIN: 01666863) Whole-time Director (DIN: 00574665)