Human Resources Development Minister Kapil Sibal today said private sector participation and investment are essential in providing quality education to all in the country.

"In the next few years, around 40,000 more colleges and institutes of higher education would be required to absorb the students and this cannot be done by the government only, private sector's role is a must here," he said while delivering the Justice P D Desai Memorial lecture here.

He, however, said that though private participation was welcome, the government would not allow profiteering in the education sector.

According to Sibal, India spends around three per cent of its GDP in the education sector and therefore there was huge scope for the private sector to chip in and participate in preparing the future generations of the country.

He also said the centre would not compromise on quality of education in either government-run or private institutes.