NEW DELHI: SP Jain School of Global Management will set up the first Indian business school in the US by opening a campus in Silicon Valley , competing with top-ranked Stanford Graduate School of Business and Berkley's Haas School Located in the Bay Area, the school will come up within two years and will be SP Jain's fifth globally. It will have virtual reality classrooms for the first time in its undergraduate and post-graduate programmes.Starting courses with virtual reality as a major component was prompted by the changing needs of the corporate sector, school president Nitish Jain told ET. Students will be able to not only see how to sell products but actually sell them using virtual reality, he said. “VR can take education to a whole new level. VR can mimic any situation and we will learn by deep immersion. In other words, we can create real life experiences. Take for example we teach our students how to lead a team of difficult people.Students would actually be able to “be in the room“ and experience leadership as though it is really happening.“SP Jain established its first campus in Dubai in 2004 has since set up schools in Singapore, Sydney and Mumbai. The school is accredited by the Tertiary Education Quality and Standards Agency in Australia and is licensed by the Knowledge and Human Development Authority of the Dubai government. It has sought regulatory permissions for the campus in the US. The process started a few months ago and the school “should be hitting the mark in the next 1224 months,“ Jain told ET.While Jain didn't disclose investment figures, he said setting up campuses entails dealing with regulatory challenges as well as establishing a brand. Consultants said running an institute in an international location can cost upwards of $2 million annually when infrastructure is leased. “The average cost to set up a campus for about 1,000 students for BBA, MBA can be anywhere close to $3 million and this doesn't include a library or a sports facility,“ said Rohin Kapoor, education practice director at Deloitte India.