India's Tata Group Donates $50 Million to Harvard Business School (HBS) by Anurag Sharma
It is the largest gift from an international donor in the HBS' 102-year history.
The donation is received from the Sir Dorabji Tata Trust and the Tata Education and Development Trust. It will be used to fund a new academic and residential building called "Tata Hall" on the Harvard Business School campus in Bostonand will serve the School's Executive Education programs.Harvard Business School is among the best educational institutions in the world while Tata group is one of India's premier global business entities.The Tata Group was founded in 1868. It currently owns 28 publicly listed companies across various business sectors with a combined market capitalisation of $80 billion. It owns many famous brands such as Jaguar cars, Tetly tea, Corus Steel, Tata Motors, Tata Consultancy Services, and Taj hotels.
"Ratan Tata knows firsthand the transformative educational opportunities offered through Harvard Business School's Executive Education programs. Thanks to this generous gift, HBS will be able to expand its already robust offerings in Executive Education, deepening ties with leaders across the country and around the globe." ~ HBS President Drew Gilpin Faust (Courtesy: HBS web site)
Research/Educational institutions Supported by Tata
Tata Institute of Fundamental Research Tata Institute of Social Sciences Indian Institute of Science Tata Management Training Centre Tata Memorial Hospital Tata Football Academy Tata Trusts The JRD Tata Ecotechnology Centre The Energy and Resources Institute
Harvard Business School
"This is an historic gift from a renowned organization revered for its significant economic, civic, and philanthropic impact. The Tata Group is widely respected for integrity and innovation, not just in India—where it produced both the first indigenous car and the $2,000 Tata Nano automobile—but in a variety of business lines across several continents, from cars to hotels and from tea to information technology."
The announcement was made in a press release by Padma Vibhushan Ratan Tata, the Chairman of Tata Sons Ltd in Boston in presence of Thomas M. Menino, Mayor of Boston, Dean Nitin Nohria, and President Drew Faust.
In October 2010 itself India's Mahindra Group donated $10 million to HBS where Anand Mahindra, head of the Group earned his undergraduate and master's degrees.
The 10th (current) dean of the HBS, Nitin Nohria is of Indian origin.
Ratan Tata attended the Advanced Management Program at HBS
[Photo Courtesy: Rediff Business (India)]
© Anurag Sharma