Vedanta University: Anil Agarwal donates $1 billion to set up university

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more than 100,000 in the long term. The university will also aim to nurture

all-round excellence, beyond the academic dimension, to produce tomorrow's

Nobel Laureates, Olympic champions and community leaders. The vision entails

spawning of an education and research township, around the university -- in a

manner similar to how Stanford University enabled the birth of Palo Alto, the

Silicon Valley's cradle. Announcing the project, Anil Agarwal said, "India

has high quality educational institutes like IITs and IIMs which are comparable

with the world's best, but these are focussed on single disciplines. Moreover,

these top-tier institutes collectively cater to less than 75,000-100,000

students annually -- not even 2% of total school output. There is an urgent

need for universities providing quality education through a multi-disciplinary

curriculum, along with a

clear research focus -- to further India's potential as an R&D hub." Agarwal

met Prime Minister Manmohan Singh to present the vision of the university and

obtain his inputs as an eminent educationist. The prime minister endorsed the

need for such a university and was fully supportive of the endeavour, the

Vedanta statement said. The university's academic and research agenda will

reflect its 'multi-disciplinary' vision through colleges focussing on variety

of disciplines, i.e. liberal arts, basic sciences, engineering, medicine, law,

business, performing arts; as also, 'centers of excellence' for

cross-disciplinary research in areas like agricultural research, information &

communication technology, health sciences, rural economics and manufacturing

sciences. The colleges would include graduate, post-graduate and doctoral

programmes, with the cornerstones of the university being

leading faculty from India and internationally, acknowledged leaders in the

field; and strong industry inter-linkages and research tie-ups from the onset.

At the core will be a high calibre, globally diversified, student body,

comprising an equal mix of Indian and International students. It is envisaged

that as the university would grow, it would also enable the establishment of

other R&D centers, knowledge-based industries and start ups, to create a

vibrant, education and research township/satellite city. This township would

serve as a regional economic engine, with 'state of the science' infrastructure

and the right quality of life to attract faculty and students from across the

globe, the statement added. A T Kearney India Ltd, a global management

consulting firm, has been appointed to programme manage this endeavour. A team

of consultants from offices in India, Europe and the United States has been

working on

charting a roadmap for this ambitious undertaking since the summer of 2005.

Key priorities in the roadmap include: identifying the right location for the

university, building the academic plan and leadership team, and charting the

right legislative roadmap, so that this university can attain global stature

and compete with the best in the world. Stanford University's Research Park

has spawned more than 1,200 companies in the Silicon valley, with a combined

market capitalisation of more than $300 billion: the vision of Vedanta

University is to aspire to be a similar enabler for India, said the Vedanta

statement.

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