Mukesh Ambani, Chairman and Managing Director, Reliance Industries, announced an unconditional grant of Rs 151 crore to the Institute of Chemical Technology, Mumbai, from where he graduated in the 1970s.
Ambani spent over three hours on Friday at the institute (ICT), which back then was called the University Department of Chemical Technology (UDCT). He was there to attend the function to publish Professor MM Sharma’s biography titled ‘Divine Scientist’. He also reminisced about how the first lecture he attended at UDCT, given by Professor Sharma, motivated him, and how Prof. Sharma later played a pivotal role as a quiet architect of India’s economic reforms. Prof. Sharma impressed upon policymakers that the only way for India to grow was to unshackle the Indian industry from the license-permit raj, which would allow Indian players to build scale, reduce dependence on imports, and compete globally.
“Like my father Dhirubhai Ambani, he had a burning desire to change Indian industry from scarcity to global leadership,” said Ambani. He further added, “These two bold visionaries believed that science and technology, in alliance with private entrepreneurship, would open the floodgates of prosperity.”
Crediting the rise of the Indian chemical industry to Prof Sharma’s efforts, Ambani in his speech also referred to him as ‘a Rashtra Guru – a Guru of Bharat’. When speaking of ‘Guru Dakshina’, Ambani announced an unconditional grant of Rs 151 crore to ICT, as per the instructions of Prof. Sharma.
“When he tells us something, we just listen. We don’t think. He told me ‘Mukesh, you have to do something big for ICT, and I am very pleased to announce that for Prof Sharma,” Ambani said while referring to the grant.
