Mukesh Ambani led Reliance Industries Limited is planning to invest a whooping amount of Rs. 1,500 crores in its proposed university Jio Institute over a period of next two years.
Awarded with the tag of Institute of Eminence by the Ministry of Human Resources Development (MHRD) even before its operations, the institute will be set up as a centre for medicine and liberal arts and sports. Also, RIL chairman and managing director Mukesh Ambani and his wife Nita Ambani will be the first members of the governing council of Jio Institute, while daughter Isha Ambani will be a director at the Reliance Foundation Institution of Education and Research (RFIER).
As for now, over Rs. 7.7 billion have already been invested in the institute which will spread across 800 acres. Earlier the institute was being planned in Kajrat, Raigad district near Mumbai, however now it is believed to open in Navi Mumbai as per N Gopalswami, Former Chief Election Commissioner.
Amongst other notable facilities like digital library and digital learning modules, the Jio institute is expected to have global academic experts as a part of its faculty. It is also reportedly in talks with foreign universities like Massachusetts Institute of Technology (MIT), Standford University, Northwestern University and Nanyang Technological University for faculty support.
The institute was expected to begin its first academic session in 2020-2021 but has now revised it to 2012-22.