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Lakshmi Mittal donates USD 25 million to Harvard University

October 18, 2017

Indian steel magnate Lakshmi Mittal, who has also been listed by Forbes as the 56th richest man in the world in 2017, has donated USD 25 million (162 crore Indian rupee) to the prestigious Harvard University.

The money will be used to establish an endowment fund for Harvard’s South Asia Institute at the university. Henceforth, the institute would be known as Lakshmi Mittal South Asia Institute at Harvard University. With the institute spearheading the varsity’s engagements with South Asian countries, including India, Afghanistan, Bangladesh, Bhutan, Maldives, Myanmar, Nepal, Pakistan and Sri Lanka as well as diaspora populations from these countries, the move is expected to increase the interaction between Harvard and India.

“South Asia has played a dynamic and influential role in the development of our world since the very first civilisations. Ensuring that we fully understand its history and unique dynamics is a critical enabler in helping to shape a successful future,” said 67-year-old Mittal, chairman and CEO of ArcelorMittal, the world’s largest steel company. “As someone who was born in India, the long-term prosperity of India and its neighbouring countries matters a great deal to me and my family,” Mittal told Harvard Gazette in an interview.

“We are so grateful for the Mittal family’s support and what it will enable us to learn and share across the sciences, social sciences, and the humanities and the many people and institutions it will allow us to engage,” said Tarun Khanna, the current faculty director. Founded in 2003, the South Asia Initiative became a University-wide interdisciplinary institute in 2010.

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