Refinery-to-retail giant Reliance Industries will set up a world class university in the country, marking its foray into the education sector.
"Reliance Foundation, the new philanthropic initiative of the Reliance Group, has decided to set up a New Age world- class university in India... It will promote education and research in all disciplines of knowledge," RIL Chairman Mukesh Ambani said.
He was speaking after receiving the first Dean's Medal by the University of Pennyslvania's School of Engineering and Applied Science.
The proposed university would be set up on the lines of great American universities like UPenn, Ambani said, adding that it will also forge partnerships with reputed educational institutions around the world.
"It will be international in scale and in best practises, but with an Indian soul," Ambani said.
Noting that there was a need to bring about changes in the methodology of education, Ambani said that education in India is also at the doorsteps of transformation.
"Access to world-class education is not only a necessity but a strong pre-requisite to building a strong India. It is by far the strongest aspiration of young Indians," he said.