24 Mar 2018 20:05 IST

New university coming up in Sri City with ₹750-crore investment

(First row, from left) Sajjan Jindal, C hairman, JSW Group and Member of the Governing Council; Vishakha Desai, Senior Advisor for Global Affairs to the President of Columbia University; Anand Mahindra, Chairman, M&M Group and member of the Krea Governing Council; Cyril Shroff, Indian corporate lawyer; and Raghuram Rajan, Advisor to the Krea Governing Council, at the setting up of Krea University in Sri City, near Chennai

IFMR-backed Krea University to offer 4-year programmes in liberal arts, science

Eminent academicians and corporate leaders have come together to set up the Krea University in Sri City, 65 km from Chennai, for offering undergraduate programmes in a bid to create “a new generation of thinking Indians”.

The university, being set up with an investment of ₹750 crore in the first phase, is backed by the Institute of Financial Management and Research (IFMR) and has corporate leaders such as Mahindra Group Chairman Anand Mahindra and JSW Group Chairman Sajjan Jindal in the governing council. The university is coming up in Andhra Pradesh, in the Sri City EPZ, which is around 60 kms from Chennai. The AP govt has provided the land and enacted it as a private university.

“We are trying to create a new generation of thinking Indians, who will contribute to the development of the globe. We intend to bring something to the table that simply doesn’t exist in India today, but is very much warranted for the India of the future,” Raghuram Rajan, former RBI Governor and advisor to the Krea Governing Council, said at a press conference in Mumbai today.

The first batch will commence in July 2019, with admissions opening in November this year. The four-year residential undergraduate programmes in Liberal Arts and Sciences will offer immersive learning experiences through real world projects and internships to prepare the students for a holistic approach to face challenges and opportunities.

“Krea will bring great global and Indian minds together to create an institution of global prominence,” said Jindal.

“The fact that so many like-minded and eminent personalities have enthusiastically come together is ample proof of how much the new paradigm is the need of this day,” said former banker and philanthropist N Vaghul, also Chairman of the governing council.

Mahindra, reiterating the value of the university, said Krea’s graduates will undoubtedly be the most sought after candidates both in the corporate world and in other chosen vocations.

Corporate leaders were unanimous that the university would enable high potential individuals learn to create a positive, catalytic impact ethically in a dynamic and diverse world.

“Krea University has a unique ‘interwoven learning’ approach that weaves creativity and action, arts and sciences, theory and practice, Eastern and Western perspectives as also the learnings of the past with the readiness for the future,” said Seshasayee, chairman of the university’s supervisory board.