Mukesh Ambani, Chairman and Managing Director of Reliance Industries, announced an unconditional grant of ₹151 crore to the Institute of Chemical Technology (ICT), Mumbai. Ambani is an alumnus of the institute, having graduated in the 1970s when it was known as the University Department of Chemical Technology (UDCT).
Event to Publish Biography of Professor MM Sharma
Ambani spent over three hours at ICT to attend the launch of Professor MM Sharma’s biography, titled Divine Scientist. He recalled how Professor Sharma’s first lecture at UDCT inspired him. Ambani also highlighted Prof. Sharma’s significant role as a key architect behind India’s economic reforms.
Professor Sharma’s Vision for Indian Industry
Professor Sharma strongly advocated for freeing Indian industry from the restrictive license-permit raj system. His vision was to enable Indian businesses to scale, reduce reliance on imports, and compete globally. Ambani praised Sharma’s determination to transform Indian industry from scarcity to global leadership, likening him to his own father, Dhirubhai Ambani.
Science, Technology, and Entrepreneurship as Drivers of Growth
Ambani emphasized that both Prof. Sharma and Dhirubhai Ambani believed that combining science, technology, and private entrepreneurship would unlock India’s economic potential and prosperity.
Grant Announced as a Tribute to Prof. Sharma
Referring to Professor Sharma as a “Rashtra Guru” (Guru of India), Ambani credited him with the rise of the Indian chemical industry. As a form of ‘Guru Dakshina’ (a traditional token of gratitude to a teacher), Ambani announced the ₹151 crore grant to ICT. He said that Prof. Sharma personally urged him to contribute significantly to the institute’s growth.
