Editorial

Lesson from America for Indian industryThe centennial celebrations of the Indian Institute of Science, Bangalore (estb.1908) which have already begun with the institute‚s first global alumni conference in Silicon Valley, USA, on June 23, is a timely reminder of the pathbreaking role that private philanthropy has played in the growth and development of higher education in India. Although for the past several decades IISc which is routinely listed among the world‚s top 20 research universities has been funded by the Union government, it‚s apposite to remember that it was promoted 99 years ago with a generous land grant of 400 acres for the institute‚s campus plus an endowment of Rs.30 lakh (equivalent to more than Rs.30 crore today) by industry pioneer J.N. Tata.Such private philanthropy and generosity was not unusual in the early years of the 20th century. In 1929 the pioneer jute and textiles magnate G.D. Birla funded and established the Birla Institute of Technology & Science (BITS), Pilani. Likewise in Delhi the late Lala Shriram promoted the Shriram College of Commerce and the Lady Shriram College for Women. Unfortunately this tradition of private philanthropy seems to have become severely diluted in the latter half of the 20th century despite Indian industry having experienced unprecedented growth and prosperity following liberalisation and deregulation of the economy in 1991. Except perhaps for the Indian School of Business (estb.2001) ‚ a joint initiative of private sector captains of industry ‚ it is difficult to recall an education institution on the scale of IISc or BITS, Pilani promoted by any of post-independence India‚s over-celebrated industry leaders and entrepreneurs. Certainly contemporary captains of Indian industry who have made huge fortunes in the fast-track Indian economy growing at an unprecdented 9 percent plus per year, are pale shadows of contemporary American philanthropists such as Bill Gates, Warren Buffet and television chat show queen Oprah Winfrey who have made massive endowments to education and health causes. For instance it‚s shocking but true that in Bangalore which boasts a large number of India‚s 100,000 dollar-denominated millionaires, none of them has rewarded the crumbling city which has made them rich with a much-needed public library, or a well-equipped school for underprivileged children. Moreover trustees of the Bangalore School of Music who need modest top-up finance have been turned down by every IT multi-millionaire of the city. Foolishly the new generation of myopic leaders of corporate India don‚t seem to be aware that their social irresponsibility is giving liberalisation a bad name, or that they are endangering resurgent India‚s born-again capitalism. They need to note that business philanthropy is a built-in survival mechanism of American capitalism. American industry‚s humungous $300 billion (Rs.1200,000 crore) aggregate contribution as philanthropy (2006) is only too evident on the campus of any American college or university. That‚s the lesson Indian business and industry leaders need to learn from America. For their survival and sustained prosperity.Supply side antidote to reservations imbroglioThe unprecedented riotous violence inflicted upon the public travelling the Delhi-Jaipur highway during the week…