Ind-Swift plans foray into education

As part of its diversification plan, Chandigarh-based Ind-Swift Group is foraying into the education sector and plans to set up a deemed university spread over 100 acres in Punjab on National Highway-1 near Rajpura.

It has plans to infuse Rs 1,000 crore spread over five years to enter the education sector. The pharmaceuticals group also plans to set up professional colleges in other states.

In an interaction with Business Standard, the chairman of the group, G Munjal, said, "We have plans to set up a deemed university in Punjab. Initially, we will start pharmacy and nursing colleges, and later on add dentistry, engineering, architechture, management and medical colleges at the proposed location."

"We hope to roll out the nursing and pharmacy courses by this academic session," he added.

The investment will be done in phases. Commenting on collaboration with foreign universities, he said, "We are in talks with some of the university in New Zealand and Canada for the nursing course."

"Initially, we will invest Rs 25-30 crore. We plan to pump in Rs 1,000 crore in five years' time for setting up educational institutes in other states as well," he added.

The company will fund the project through internal accruals and term loans.

Ind-Swift Group is one of the leading pharmaceuticals groups of India having presence in 45 countries with two listed entities Ind-Swift Ltd and Ind-Swift Laboratories Ltd, and a wholly-owned subsidiary in the US.