Companies with turnover of Rs 100 crore can set up technical institutes: Government

NEW DELHI: Private and public companies with a turnover of at least Rs 100 crore per year over a 3-year period have been allowed to set up technical institutes from the next academic session to meet the increasing demand of such institutes.

They can establish new technical institution in engineering and technology, pharmacy, architecture and town planning and hotel management catering technology, the government said today.

"The All India Council for Technical Education ( AICTE) has allowed from 2013-14 private limited or public limited company/industry having turnover of at least Rs 100 crore per year for previous 3 years to establish new technical institution," Minister of State for HRD Shashi Tharoor told Rajya Sabha in a written reply.