The University of Chicago’s Booth school of business has announced a new scholarship for MBA students from India, courtesy of a $1m donation from the Tobaccowala Foundation of India.
“India sends the most students to Chicago Booth of any country other than the US,” said Sunil Kumar, dean of the school. “Scholarship support is important in our efforts to continue attracting the best and brightest students. For that reason, we have as one of our goals to increase such support for students.” During the 2011-12 school year, 83 students from India are enrolled in Booth’s full-time MBA programme and since 2001, 527 students from India have attended the programme, according to the school.
The $1m has been given by the family of Akhtarali H. Tobaccowala, who graduated from Chicago Booth in 1952 and went on to become a director of the Tata Group and founder of the Impact India Foundation, the international initiative against avoidable disablement. His son, Rishad Tobaccowala, who graduated from Booth in 1982, says that he and his sister made the gift so that more students from India could learn from the Chicago Booth faculty. “Our father believed strongly in the power of education and we feel the same way.”
Students who receive the scholarship will be designated Akhtarali H. Tobaccowala Fellows.