Mukesh Ambani led Reliance Industries Limited (RIL) is keen to set up a world class university in Mumbai. The industry giant already operates one of India’s best schools – DhirubhaiAmbani International School and is looking at operating a varsity of its own soon. A key thing to note is that the company has a vision about the whole project and has hence approached the state higher and technical education department seeking relaxation in student intake modes and aspects of reservation.
A government official familiar with the development was quoted as saying that the group does indeed have grand plans for the university. RIL plans to have world class faculty and students from around the globe. As a result, group wants certain relaxations particularly those pertaining to reservations that come under State guidelines. Once it gets that, it will go ahead and place a formal proposal before the higher and technical education department. The group is looking at a lot of operational freedom.
An official in the higher and technical education department was quoted as saying, “The group wants to invest Rs 15,000 crore in the private university and the education sector.” Higher and technical education minister Rajesh Tope did confirm the matter, saying: “They have approached us and the government is looking into it.”
RIL is not the first corporate to come up with an elaborate plan to establish a private University. As many as 17 groups, headed by industrialists have requested permission to establish new universities. These include DY Patil, Symbiosis, Bharat Forge, Rai University and Techno India among others. What’s interesting to note is that the higher and technical education department is closer to giving letter of intent (LoI) to as many as 14 of them soon.
A committee is set-up to scrutinize these proposals and these are evaluated on various existing criteria. Those meeting and preferably exceeded these criteria are issued with a letter of intent (LOI). Once approved by the committee, it will go before the cabinet and once it gets cabinet nod, it will be tabled in the legislature as a bill, following which the university will be set up.