On November 17, when chairman Mukesh Ambani addresses Reliance Industries’ annual general meeting, he is likely to announce the group’s next foray: education.
India’s biggest business house is planning to launch a private university in line with the Ivy League institutions, says a company insider, though the contours are yet to be finalised. And for a country betting on its demographic dividend, that would be good news.
Already populated with corporates such as the Birlas and the Mahindras, besides private equity players and institutional investors, the sector can absorb a lot more by way of private investment.
According to an IDFC-SSKI report, Indians spend $50 billion annually on private education. The four segments of the education market — plus two, higher, vocational and supplemental — present a $80-billion opportunity by 2012. It is expected to grow at a CAGR of 16%, says a CLSA Pacific study. Read More >>