Home >Education >News >Nalanda University receives $1 million endowment
This is the second personal endowment to the university. Photo: Indranil Bhoumik/Mint
This is the second personal endowment to the university. Photo: Indranil Bhoumik/Mint

Nalanda University receives $1 million endowment

The endowment will be used to set up a professorial chair in the School of Historical Studies, said the Rajgir-based university which has a historical past

New Delhi: Nalanda University has received an endowment of $1 million from Switzerland-based Rajendra Kumar Joshi and his wife Ursula, the university said on Tuesday.

Joshi, now a Swiss citizen, has his roots in Rajasthan and is a graduate of Birla Institute of Technology and Science Pilani. He founded a pharmaceutical company called Fumapharm with other partners in Switzerland and is credited with development of drugs for the treatment of psoriasis and multiple sclerosis.

The endowment will be used to set up a professorial chair in the School of Historical Studies, said the Rajgir-based university which has a historical past.

“This endowment to the University is really valuable for us specially in these formative years. We are specially thankful that the Joshis despite their background in pharmaceuticals decided to support the School of Historical Studies to acknowledge the importance of this discipline in the present age. At a time when History and indeed the Liberal Arts need a lot of support a gesture like this is immensely valuable," said Nalanda vice-chancellor Gopa Sabharwal.

This is the second personal endowment to the university, the earlier being a donation from Madanjeet Singh’s South Asia Foundation for the same amount.

Nalanda University was established by an act of Parliament in 2010 and is designated as an institution of national importance. Nalanda is a standalone international university unlike any other established in the country and is supported by several East Asia Summit countries.

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