Mukesh Ambani-led Reliance Industries has informed the government’s Empowered Expert Committee (EEC) that it’s investing about Rs 1,500 crore in its proposed university, Jio Institute, in the next two years.
The institute proposal is still on paper but has entered in the Greenfield category that grants an unborn institute sweeping autonomy.
- Mukesh Ambani is all prepared to set up an institute which will be a world-class center of learning.
- Reliance Group is in discussions with Stanford University and Northwestern University in the US as well as Nanyang Technological University in Singapore on establishing the facility.
- Modi government has declared the Institute as one of the six ‘Institutes of Eminence’ under Greenfield category.
- Many academicians have questioned on what basis has the Institute, which doesn’t exist, been selected as an Institute of Eminence.
HRD Ministry granting the Institute Greenfield status on the four parameters
The four parameters were:
- Availability of land.
- Putting in place a core team with “very high experience”.
- Making funds available for setting up the institution.
- A clear strategic vision.
The Eminence tag
With the Eminence tag, Jio Institute has the freedom to determine the fees for domestic students. These top-class institutes can also fix and charge fees from foreign students without restriction. The programs in the institute will be engineering, natural sciences, arts, humanities, and social sciences, management and entrepreneurship, and digital media and journalism.
This Institute can be looked like an epitome of high-end learning, similar to Harvard standards.