In a partnership between airport operator GMR and the Toronto-based Schulich School of Business at York University, Schulich will develop the facilities, curriculum, staff and learning programmes for 120 students, while GMR provides the land and the physical campus within the airport premises.

The campus development is subject to approval under the Foreign Educational Institutions Bill, which is currently before the Indian Parliament and final approvals by the Boards of York University and the GMR Group; student admissions are expected to commence no later than 2013.

"GMR will bring its world-class infrastructure development skills to the table, while the Schulich School of Business will bring its expertise as one of the world's top-rated MBA programmes and Executive Education providers," said V. Raghunathan, CEO, GMR Varalakshmi Foundation.

By Oliver Clark