World trade Organization (WTO) is playing an important role in the Globalization of business and all other aspects related to modern business. Education is now a business at the international level as more students now seeking to fly abroad to find out and pursue courses specialized in their field of interest in one of the reputed universities around the world.
WTO is the organization that is engaged in management and organization of inter-national business activities around the world. WTO Has played Fundamental role in order to understand the future role of education as a business in the international arena. Fundamental question of WTO in education is this-“Is higher education a marketable commodity like an fmcg product or is it just another service like water or electric supply? And is higher education a commercial service or a public good?
The answer to this question is quite complicated as the education (Especially higher education) seems to be belonging to both the categories. Traditionally, Education is the thought to be A Public good and in fact it’s mentioned to be the fundamental right for every person according to our constitution and the government has formed the provision of providing basic education to every person at least till the age of 14.
On the other hand, Education is also turning rapidly into a global marketplace as the business has crossed he physical boundaries of the nations and almost every aspect of our society is now turning to a global Business standard. Education (Especially Higher education) is no exception to that and Higher education is now a business sort of thing for nations as they creep into the highly potential field of higher education.
Thus, Education seems to be belonging to both the categories and the fundamental question of categorizing education as a public good or as a Commercials affair. One fact is for sure that education is going to rise as a high potential business related matter in the future to arrive.