Paytm founder Vijay Shekhar Sharma declared that he will offer scholarship to two Indian students each year to pursue research at the Lakshmi Mittal and Family South Asia Institute (LMSAI) at Harvard University.
A statement said "By enabling scholars from South Asia to work in a cross-disciplinary fashion with faculty, researchers, and students across Harvard on critical questions and issues related to the region, Sharma's gift will significantly enhance the goals of the Institute to deepen the teaching and research on significant cultural and global issues related to South Asia,"
The "gift" from Mr Sharma will support the activities and research performed by LMSAI, it added.
University Provost Alan Garber said about Sharma's contribution, "through his generosity, he has affirmed our shared commitment to advancing cross-disciplinary research and learning in our interconnected world. His vision for a more collaborative future has never been timelier. We are proud to partner with him."
Vice Provost for International Affairs Mark Elliott said further expanding Harvard's work and partnerships in India is a major priority for the University.
He was quoted saying, "This fund, which will provide leading South Asian scholars in all fields with new opportunities to pursue their research at Harvard, will bring benefits to them and their home institutions as well as to the Harvard community,"
He further added, "In this way, this new program will do much to strengthen and broaden the kinds of academic connections we depend upon to help deepen our engagement with South Asian partners and to advance our academic mission globally."
"I hope this gift will help future leaders attain the global vision that would help in transforming the lives of millions for the better in India and beyond," Mr. Sharma said.
He added that Harvard's integrity, diversity, and commitment to excellence are exemplary.