Philanthropy: Bharti family pledges to donate Rs 7,000 crorehttps://indianexpress.com/article/business/business-others/philanthropy-bharti-family-pledges-to-donate-rs-7000-crore-4951604/

Philanthropy: Bharti family pledges to donate Rs 7,000 crore

The pledged amount of Rs 7,000 crore would mostly go into setting up of the university in northern India.

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Bharti Enterprises chairman Sunil Mittal with Vice Chairman Rajan Mittal and Rakesh Mittal in New Delhi. (Photo: PTI)

The Bharti family, led by Sunil Mittal, has pledged Rs 7,000 crore — 10 per cent of their family wealth, which includes 3 per cent of their stake in the country’s largest telecom firm Bharti

Airtel — to the Bharti Foundation, their philanthropic arm. The foundation, which runs the Satya Bharti schools in northern India for underprivileged children, now plans to set up the Satya Bharti University, which would provide free education in science and technology to deserving youth from economically weaker sections of the society.

The pledged amount of Rs 7,000 crore would mostly go into setting up of the university in northern India, close to Delhi and Chandigarh on 100 acres of land, Bharti Enterprises chairman Sunil Mittal said on Thursday.

“We are not in this for business,” Mittal said at a conference along with his brothers Rakesh and Rajan Mittal. He said that discussions are on with various states including Punjab and Haryana to finalise the location. Mittal said he expected the groundbreaking ceremony to take place by early next year and the first academic session would commence by 2021.

The proposed university would focus on advanced technologies like artificial intelligence, robotics, augmented reality and virtual reality and internet of things in addition to offering degrees in electrical and electronics engineering and management.