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Rs 7000 cr for charity: Bharti family to give 10% wealth to philanthropy

The family, which has built Bharti Enterprises and Bharti Airtel, has pledged a tenth of its wealth to philanthropy and will set up the Satya Bharti University for Science and Technology

BS Web Team  |  New Delhi 

Sunil Mittal
Sunil Bharti Mittal, founder and chairman of Bharti Enterprises and chairman of Bharti Foundation. Photo: ICC WBO Twitter

The Bharti family, which has built one of the country's leading business house in Bharti Enterprises, on Thursday pledged 10 per cent of their personal wealth, an amount close to Rs 7,000 crore, for philanthropic purposes, an official press release said. The family, according to the release, has pledged 10 per cent of their wealth, including three per cent of their stake in the group's flagship Bharti Airtel, towards supporting the activities of Bharti Foundation, which is the group's philanthropic arm. The release claims it is "one of the few professionally managed philanthropic bodies in India". The also announced its plans to set up the to complement its existing programmes in the area of education. According to the official release, the university will have a strong focus on future technologies like artificial intelligence, robotics, AR/VR, and the internet of things, among others, in addition to offering degrees in electrical & electronics engineering and management. "It will be a non-profit centre of excellence and will offer free education to a large number of deserving youth from economically weaker sections. It will also promote and fund advanced research with global linkages.

It intends to add leading global industry partners, ie Facebook, Google, Apple, Microsoft and SoftBank among others." "With this commitment, the envisions to significantly step up the scope and reach of Bharti Foundation's activities, and further enable the Foundation to develop and execute innovative development models to support the aspirations of India's underprivileged, including students of Satya Bharti Schools," the release said. Announcing the commitment, Sunil Bharti Mittal, the founder and chairman of and chairman of Bharti Foundation, said, "Today is a major milestone in the journey of the Being first generation entrepreneurs, we feel absolutely privileged that this nation gave us the opportunity to imagine and build world-class businesses. Bharti's DNA has always been about creating a deep positive impact on society through our businesses, and we are proud to have contributed to the India growth story." Speaking about the planned Satya Bharti University, Rakesh Bharti Mittal, vice-chairman of and co-chairman of Bharti Foundation, said, "Having built a successful model for primary and senior schooling under Satya Bharti Schools, plans to build Satya Bharti University — a world-class institution, to support the higher education aspirations of India's youth. Our aspiration is to develop it into a centre of excellence not just in India but globally." Set up in the year 2000, has grown in scale and stature, and evolved well beyond customary chequebook philanthropy to design and implement innovative development models, particularly in the area of education. Led by a full-time CEO and COO, the Foundation’s team of over 200 highly motivated professionals and approximately 8,000 teachers work across multiple programmes in the areas of education of approximately 240,000 underprivileged children in rural India.

First Published: Fri, November 24 2017. 10:10 IST