India spends about $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.

Mukesh Ambani, Chairman and Managing Director, Reliance Industries said, "Access to world class education is a prerequisite for a strong India". Also, he talked about his plans to establish a world-classuniversity in Mumbai or Delhi.

He claimed, "We plan to forge partnerships with reputed universities worldwide".

The foundation has initiated its process in pursuit of land for the university. The university is speculated to follows the footsteps of American universities, such as The University of Pennsylvania, and will tie up with foreign universities.

Initially, the university will offer undergraduate courses and will later proceed with postgraduate and doctoral courses. The reason cited for the investment by the Mukesh Ambani is a whooping $80-billion opportunity expected by 2012.

Source: http://www.topnews.in/reliance-group-enter-education-sector-2251492

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