Reliance plans a world class university near Mumbai or Delhi; Unless things happen fast Vedanta University will lose its first mover’s advantage
Following is an excerpt from a report in Economic Times.
The Reliance Group is setting up a ‘world-class’ university as it seeks to promote education and research in sectors ranging from liberal arts to technology .
… India’s largest business conglomerate has started the process of identifying land for the proposed university , according to persons familiar with the development.
The university, modelled on the lines of American universities such as The University of Pennsylvania, will tie up with foreign universities. “It will be international in scale and in best practices, but with an Indian soul,” said Mukesh Ambani, chairman, Reliance Group.
Nita Ambani told ET that the proposed university would be located either outside Mumbai or Delhi. “We are looking for sufficient land to set up a world-class university,” she said.
Mr Ambani made this announcement while making the acceptance speech at Mumbai’s Tident Hotel after receiving the Dean’s medal from the University of Pennsylvania’s engineering school. …
The university will initially offer undergraduate courses. It will later offer postgraduate and doctoral courses, Ms Ambani said. India’s big business houses are strengthening their focus on education as it is poised to become a $80-billion opportunity by 2012. Indian spend $50 billion on private education annually, according to a research report by IDFC. It is expected to grow at a CAGR of 16%, said a CLSA Pacific study.
This is great news for India. I hope things move faster with respect to Vedanta University. Otherwise it will lose its first mover’s advantage. Another thing to note is that some of the people who were/?are? involved in the Vedanta University project also have University of Pennsylvania ties. They are doing a great thing by convincing various billionaires in India to establish universities that aim to be world class.
1 comment January 9th, 2010