Stressing for collaborations in the field of education, Human Resources Development Minister Kapil Sibal said he had set a target of 30 per cent students reaching university level in India by 2020. Sibal was inaugurating the Indo-US summit on higher education organised by the Indo-American Society in Mumbai. He said said another 800 universities and 35,000-40,000 colleges are required to enable more 46 million children to avail college education.He said 220 million children go to school in India out of which only 14 million reach college. He further said our economy cannot sustain with such numbers. Out of the numbers which manage to reach the college, only 40 per cent pass 12 standard.The ministry's aim is to increase the total percentage of students who avail higher education from the existing 12.4 per cent to 30 per cent by 2020. The current rate is only 12.4 per cent. Presently, there are 500 universities and about 25,000 colleges in the country.