The Global Text Project is intended to create global free textbooks for students in the developing countries. We argue that two key technological and social developments offer an opportunity to create a new model for textbook publishing. First, the Internet is a low cost channel for distributing information products in digital form. Second, global digital communities have created the platform for collaborative creation of content. Through this model a free and open content library will be developed for students covering all major subjects for an undergraduate education. This project is a contributory measure to the global efforts to address the educational resource constraints in resource poor environments in the world.