Financial Daily from THE HINDU group of publications
Wednesday, Oct 23, 2002
Alliances & Joint Ventures
Industry & Economy - Education
K.K. Modi arm, Apollo Int'l set up management varsity
NEW DELHI, Oct. 22
AN investment arm of the K.K. Modi Group has entered into a 50:50 joint venture partnership with Apollo International Inc USA, to set up the Modi Apollo International Institute (MAII) the Capital. The university will offer Bachelors' and Masters' degree programmes and short-term courses in Business Administration and Information Technology. Along with this, MAII is also going to introduce a course tailored to meet the requirements of working adults and distance education course.
Mr K.K. Modi, Chairman, Modi Enterprises, said, "The IIMs and IITs produce only a few qualified people when the actual demand is much higher. Thus, MAII is an effort to provide access to affordable and high quality international degrees in India."
Apollo International is the global education and training wing of the Apollo Group, which is one of the largest private providers of higher education in the US. Dr Jorge Klor de Alva, Chairman, Apollo International, noted that it would consider increasing its investment in India depending on how its maiden campus takes off.
MAII, according to Mr Modi, plans to open up at least 33 campuses in the country in the next 10 years.
"Our goal will be to build a brand which will not only cater to the education industry, but also provide trained manpower to the service industry across the country."
On the course structure, Ms Charu Modi Bhartia, Vice-Chairperson and CEO, MAII, said the course would be globally focussed, but at the same time, customised to train people to deal with the Indian realities. She said the degree would be identical to that offered on the Western International University campus in the US.
Talking about the pricing strategy, Ms Bhartia said, "The course in India will be available at one-tenth of the cost in the US. The two-year MBA course, for instance, will be priced at Rs 2.54 lakh."
While the MBA management course will be launched on November 20, the IT Masters course will begin next January.
Similarly, the Bachelor courses in Management and IT will commence in June 2003.
Ms Bhartia said MAII would ensure placement of its students. "Our placement efforts will begin from day one itself."
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