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Dr. Krishna Chivukula, an American industrialist and entrepreneur, has donated Rs 228 crore to the Indian Institute of Technology, Madras. Director V Kamakoti of IIT Madras stated that the donation is one of the single largest that the university has ever received and that the money would be used for a number of activities.
The institute is also planning to name an academic block after Krishna Chivukula to recognize his generous donation.
The money from Chivukula, according to IIT Madras authorities, would be utilised for a number of things, including providing scholarships to overseas students, especially those from SAARC nations, so they can attend the university.
Who is Dr. Krishna Chivukula?
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Chivukula completed his elementary schooling in Telugu and then went on to study aerospace engineering at IIT Madras. He then completed his master's degree in business administration at Harvard University.
He developed businesses that manufacture aviation components after completing his M Tech in aerospace engineering in the 1970s.
With a ₹1,000 crore expected in revenue, Chivukula founded Indo-US MIM (Metal Injection Moulding) in the United States.
According to officials, Shiva Technologies Inc., a company focused on sophisticated mass spectroscopy, is the other business that Chivukula founded.
Chivukula claimed that while he was living in the US, a number of prosperous businessmen gave money to the colleges where they attended school, which inspired him to donate to IIT Madras.
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"In (the United States of) America, there is so much philanthropy in sectors like education, health...," he told PTI.
Dr. Krishna Chivukula introduced a cutting-edge engineering manufacturing method known as 'Metal Injection Moulding (MIM)' to India in 1997, when it was still in its early stages in the United States. Currently, his business, INDO US MIM Tec, is the world leader in MIM technology in terms of capacity and sales, with a forecast revenue of about Rs. 1,000 crore. IIT Madras recognised his professional excellence and societal services by bestowing the 'Distinguished Alumnus Award' in 2015.
Recalling that he came from a "not-so-rich" family when he enrolled at IIT Madras, Chivukula claimed that his education there prepared him for admission to Harvard, another esteemed university. And he claimed that this inspired him to give back to IIT Madras. He also expressed his desire to see more investments made in India.
(With inputs from PTI)
