Indian education needs overhaul, says Mukesh Ambani

Mukesh Ambani, who controls India's largest business conglomerate Reliance Industries Ltd, said on Friday that there is need to overhaul the method of education in India.

"Access to world class education is a prerequisite for a strong India," he said while announcing that Reliance Foundation, the company's social projects arm, plans to set up world-class university in India.

"We plan to forge partnerships with reputed universities worldwide," he said after being conferred with the first Penn Engineering Dean's Medal in Mumbai. The medal was in recognition of his visionary leadership in the application of engineering and technology for the betterment of mankind.

He said the new university would be modelled on the lines of American universities such as The University of Pennsylvania. ''It will be international in scale and in best practices, but with an Indian soul,'' he added.

Reports say that Reliance Foundation will start the university either in Mumbai or Delhi. Mukesh's wife Nita Ambani will head the new project.

According to Ambani, the centre of economic gravity is shifting from West to East. "Asia is witnessing unprecedented prosperity. The challenge of equitable development is the most urgent," he said, adding that new models of development will require international partnerships.