Known for its chain of B Schools, the ICFAI Group, is planning to set up eight universities in as many states in the next two years with an investment of INR 400 crore. It has received the necessary approvals from the governments of Chattisgarh, Rajasthan, Himachal Pradesh, Orissa, Gujarat, Assam, Madhya Pradesh and Punjab, said SK Sharma, director, planning and coordination, ICFAI.
The universities are expected to be operational first in Rajasthan, Himachal Pradesh and Chhattisgarh next year. The universities in Gujarat, Assam, Orissa and Madhya Pradesh will follow suit in 2012. The group has signed an agreement with the state government to set up a university in Punjab. The Hyderabad-based group has presence in eight states