Union Minister of Human Resources Development Kapil Sibal today laid the foundation stone of Indian Institute for Management at Tiruchirapalli. Speaking on the occasion, he said that to meet the demands of students more and more high quality educational institutions will be opened all over India. He said that 500 crore rupees has been allotted for IIM Trichy. Moreover, to encourage education of girls, half of the seats will be reserved for girls in this institute, he said.The Minister said that National Higher Education Research Council will be formed to ensure the development of higher education in the country. By 2050, the population of India will grow to 1.7 billion. Hence, more and more new educational institutions will be set-up to provide quality education for all. About half of the school going students are going to foreign countries like the US and Europe to pursue higher studies. The Minister said that quality higher education should be provided in India itself to retain these talents in India itself. Union Minister of State for HRD Smt Purandeswari, State Ministers Shri K Ponmudy, Shri N Selvaraj attended the function.