Reliance to set up "world-class" university in India

RIL Chairman and Managing Director Mukesh Ambani said the university would come up under the aegis of the Reliance Foundation, the new philanthropic initiative of the group.

Mr Ambani made the announcement in an acceptance speech after receiving the first Penn Engineering Dean's Medal from the Dean of the School of Engineering and Applied Science of the University of Pennsylvania at a function held here yesterday.

He said the new university, in the tradition of great American universities like UPenn, would promote education and research in all disciplines of knowledge - from science and technology to liberal arts.

"It will also forge partnerships with reputed universities around the world. It will be international in scale and in best practices, but with an Indian soul," he said.

Mr Ambani said education in India was at the doorsteps of transformation and there was a need for overhauling its methodology.

"Education is all about problem-solving and change management. It is about igniting curiosity and creativity. It is about doing things with one’s own hands. It is about encouraging lateral thinking with a multidisciplinary approach," he said.

He said education was also about equipping students with a wide range of "soft skills" such as communication, teamwork and leadership.

"It is about creating young and idealistic men and women who can 'reverse engineer' future problems and 'forward engineer' their solutions," Mr Ambani, who is also the Chairman of the Board of Governors of the Indian Institute of Management Bangalore, said.

"A stronger and more self-confident India is emerging on the global scene. Access to world-class education is not only a necessity but a strong pre-requisite to building a strong India. It is by far the strongest aspiration of young Indians," he added.

The Business School of the University of Pennsylvania had similarly honoured Mr Ambani's father, Mr Dhirubhai Ambani, the founder of the Reliance empire, with its Dean's Medal 12 years ago.

Mr Ambani said the world had entered a fundamentally new phase in human history, with the financial downturn, the energy, food and water crises and international terrorism emerging as global challenges.

He said educational institutions could make a fundamental contribution to advancing the agenda of peace and security in the world.

"In history, many things may change. But what will never change is the basic truth that sustainable value creation in every society is only possible through the virtuous cycle of science, technology, engineering and enterprise," he remarked.

He said there was, thus, need in the future for further strengthening existing partnerships and forging strong new partnerships in every link in the global value creation chain. "Going forward, financial engineering should take the back seat. And real engineering should take the driver’s seat," he observed.

Mr Ambani said employment creation was a challenge for all countries. He pointed out that while Asia was witnessing unprecedented prosperity, many parts of the continent also presented a picture of deprivation and under-development.

"The deprived are demanding their due share. The poor are still denied access to food, water, housing, electricity and transport ? the basic necessities of life. Therefore, the challenge of equitable development has become most urgent. So has the imperative of sustainable development," he said.

He said that, in this new and interdependent world, there was need for silo-breakers in thinking, policies and strategies of development.

"Every single challenge that the world is facing demands a creative response from scientists, engineers, entrepreneurs and policy-makers," he said.

Mr Ambani said science, technology and engineering had an epoch-making opportunity to evolve to the next level, by making common cause with social sciences, responsible entrepreneurship and good governance.

NNN