MUMBAI
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India has emerged as the biggest opportunity for Coursera Inc.’s enterprise business, making it one of the two fastest-growing markets for the global upskilling giant, alongside West Asia, for the vertical, according to a top company executive.
The company’s enterprise segment, which caters to businesses, universities, and governments, is experiencing significant traction in India, Karine Allouche, vice-president and general manager of enterprise business at Coursera, told Mint.
“No other country has the same demographic advantage. Additionally, not all governments have advanced the digitalization of their institutions to the same extent. In most countries, you don’t see 40% of credits being delivered online,” Allouche said.
Coursera, led by chief executive Jeff Maggioncalda, operates two primary segments: Business-to-consumer (B2C) and business-to-business (B2B). The B2C segment is further divided into online courses and online degrees, while the enterprise business includes three subcategories: Coursera for Campus, Coursera for Business, and Coursera for Government.
Within the enterprise business, Coursera for Campus has been a star performer. Nearly 30% of Coursera’s global campus customers are based in India, underscoring the success of its Coursera for Campus in the country.
Overall, in 2024, Coursera’s B2B segment contributed approximately 34% of its total revenue, up from 29% in 2021. Meanwhile, the B2C segment, though still the largest contributor, saw its share decline from 59% in 2021 to 57% in 2024.
Allouche pointed out that India is an exception to this global revenue split for Coursera, with the enterprise segment making up a larger chunk than the consumer business. The company, however, did not disclose the specific revenue split for its Indian operations.
India is also Coursera’s second-largest consumer market, with 28 million registered users as of December 2024, trailing only the US. In fact, in 2024, India recorded the highest enrollments on the platform, surpassing even the US.
AI-led demand
The growing demand for artificial intelligence (AI) and generative AI courses has further fuelled Coursera’s expansion in India.
Since June 2023, the company has ramped up its efforts to offer AI-related courses in local languages. As a result, enrollments in generative AI courses have quadrupled from 2023 to 2024, with India leading the way at approximately 1.3 million enrollments—nearly half of which come from enterprise learners.
India’s booming enterprise upskilling market has also triggered other players to ramp up offerings. upGrad Enterprise, the corporate skilling division of upGrad, recently expanded its leadership team to strengthen market penetration in India, Eastern Europe, and North America.
Srikanth Iyengar, CEO of upGrad Enterprise, stated that enterprise revenue from international markets has been steadily growing due to organic expansion and increasing global demand. “We are looking to further deepen our presence in the Indian market, while also doubling down on our global aspirations,” he said.
