Chandigarh/New Delhi/Hyderabad, Nov 12 (ANI/Business Wire India): The Government of Punjab today, signed a tripartite agreement with Indian School of Business (ISB) and four Indian Business Leaders to set up a second ISB campus at Knowledge City, Mohali.
The Agreement was signed in the presence of Punjab's Chief Minister Parkash Singh Badal by Anjali Bhawra - Secretary, Higher Education, Government of Punjab, Rajat Gupta -Chairman, ISB, and four Founder Supporters of the ISB campus at Mohali, Analjit Singh - Chairman and Managing Director of Max India Limited, Rakesh Bharti Mittal - Vice-Chairman and Managing Director of Bharti Enterprises Limited, Sunil Kant Munjal - Managing Director and Chief Executive Officer of Hero Corporate Service Limited, Atul Punj - Chairman, Punj Lloyd Group.
The 70 acres ISB campus site at Mohali has been allotted by the Government of Punjab on a 99 years lease at Rs. one per acre annually, as a part of its vision to establish a world class premier management institute at Knowledge City, Mohali. Based on an invitation by the Government, the four Indian Business Leaders along with ISB submitted their Expression of Interest to set up a second campus of ISB at Mohali, along with their intent to make a significant financial contribution for establishing the Campus. The first academic session at the ISB campus in Mohali is expected to commence in 2012.
Speaking at the occasion, Bikram Singh Majithia, Information and Public Relations, Water Supply and Sanitation, Science and Technology and Environment Minister, Government of Punjab, said "It gives me great pleasure to announce the setting up of a new campus of ISB at Mohali. This has been possible due to the vision of our Chief Minister Sardar Parkash Singh Badal and the unrelenting effort of our Party President, Sardar Sukhbir Singh Badal. It will help facilitate the emergence of Mohali on the national map as an important centre of higher learning, especially with other national institutes of excellence coming up here. I want to thank the four Founder Supporters Analjit Singh, Rakesh Bharti Mittal, Sunil Kant Munjal and Atul Punj for reiterating their support and commitment to Punjab by helping make this a reality. We will provide all the support and assistance needed to ensure that the Campus becomes functional on time."
The ISB, with the support of existing associate schools, Wharton School and Kellogg School of Management, will set-up and run the Mohali campus, just like its Hyderabad campus, as a world class academic institution for providing Post Graduate Programmes in Management and short duration Executive Education Programmes. The ISB campus at Mohali will have the following four specialist Institutes, termed as Centres of Excellence, for promoting research and offering additional specialisations in the Post Graduate Programme:
-- Max India Institute of Healthcare Management
-- Bharti Institute of Public Policy
-- BML Munjal Institute of Manufacturing and Operation Excellence
-- Punj Lloyd Institute of Physical Infrastructure Management
The ISB campus at Mohali proposes to have 280 seats in its Post Graduate Programme. It will also have several short duration Executive Education Programmes where approximately 750 professionals will be able to participate.
ISB will have a unified governance structure, with the ISB Board as the Statutory Body overseeing and supporting both campuses at Hyderabad and Mohali. A Deputy Dean, will be appointed to run the ISB campus at Mohali, including the four Centres of Excellence. It will additionally have the benefit of a Campus Advisory Board while the Centres of Excellence will be advised by their individual Institute Advisory Councils. The ISB faculty will be available for teaching on both campuses and all standards and processes will be common across both campuses.
The Founder Supporters of the ISB campus at Mohali, who are playing a key role in setting up the Business School, will contribute a sum of Rs. 50 crores each. While they are members of the ISB Executive Board, they will also be represented on the Campus Advisory Board of ISB campus at Mohali and will Chair the respective Institute Advisory Councils. The Founder Supporters will extend their existing support for Placements/Internships, Programmes on Campus and Visiting Faculty to the ISB campus at Mohali.
Rajat Gupta, Chairman of the Board of Directors, ISB
Rajat Gupta, Chairman, ISB, remarked, "It has been an exciting and eventful journey for ISB from its inception in 2001 to becoming a top ranked global business school in seven years. The Mohali campus is another significant milestone for us. I am grateful to the vision of Chief Minister Parkash Singh Badal and our Founder Supporters for making it possible for us to bring high quality education within the reach of more and more Indians."
M Rammohan Rao, Dean, ISB
"The ISB owes its remarkable success to the high level of commitment of its Executive Board, the resident and visiting faculty, its administrators, and its alumni. The core team that has made the ISB successful will be deeply involved in the new campus as well. We have groomed high quality talent for the country and I am delighted that we now have the opportunity to groom talent for new growth sectors especially healthcare, manufacturing, infrastructure and public policy."
Analjit Singh, Chairman and Managing Director, Max India Limited:
"The importance of establishing world-class educational institutions in India cannot be overemphasized. I feel that being a part of the creation of ISB Mohali is a privilege. Such a partnership is a once in a lifetime opportunity. Today's first step towards creating the ISB Mohali campus is a three-dimensional win for ISB, Government of Punjab and the four Founder Supporters.
The Max Institute of Healthcare Management will impart Industry relevant skillsets to students in this Program to meet India's growing need for quality healthcare professionals. "
Rakesh Bharti Mittal, Vice Chairman and Managing Director, Bharti Enterprises Limited:
"At Bharti, we have always believed in undertaking transformational projects that have a positive impact on the society while contributing to the nation building process. In today's rapidly changing environment India needs an institution to promote quality research and education in the area of public policy. With Bharti Institute of Public Policy, our aim is to create the first of its kind world-class institution that will create a talent pool and provide meaningful insights, facilitating the policy making process in various strategic areas. We are delighted that our support to ISB for its second campus in Mohali will benefit the Indian youth, including those in the region, with quality education in Management."
Sunil Kant Munjal, Managing Director and Chief Executive Officer, Hero Corporate Service Limited:
"Given our strengths in manufacturing, we've been looking to promote a centre for manufacturing and operational excellence that would firstly help us replenish our talent pipeline, and secondly, make India's manufacturing sector globally competitive. In ISB, we have found the right partner to fulfill these objectives."
Atul Punj, Chairman, Punj Lloyd Group:
Education will play a transformational role in growth and social well being of India and the Punj Lloyd Group is proud to be associated with the Government of Punjab, other Founder Supporters and ISB in this landmark public-private partnership which will play a critical role in generating a huge pool of skilled managers to meet not just India's but also the global skills shortage in the construction industry. I am delighted that the Punj Lloyd's Institute of Physical Infrastructure Management is being set up at the Indian School of Business at Mohali campus which will be a unique institute offering managerial skills in the infrastructure segment."