In a bid to create “a new generation of thinking Indians”, eminent academicians and corporate leaders have joined hands to invest Rs 750 crore to set up the Krea University in Sri City, 65 km from Chennai, for offering undergraduate programmes.

Leaders of India Inc involved in the project include Mahindra, Sajjan Jindal, R Seshasayee, S Ramadorai, Kiran Mazumdar Shaw, while the team of academics include former RBI Governor Raghuram Rajan and Manjul Bhargava.

“We are trying to create a new generation of thinking Indians, who will contribute to the development of the globe. We intend to bring something to the table that simply doesn’t exist in India today, but is very much warranted for the India of the future,” said Raghuram Rajan, former RBI Governor and advisor to the Krea Governing Council.

Mahindra said universities are important because they are “safe houses of conversations on liberalism”. “The best thing a corporate can do is to fund them rather than court controversies themselves,” he added.

The first batch will commence in July 2019, with admissions opening in November this year. The four-year residential undergraduate programmes in Liberal Arts and Sciences will offer immersive learning experiences through real world projects and internships to prepare the students for a holistic approach to face challenges and opportunities.

Asked if the new varsity fears trouble, Seshasayee said such conflicts will have to be managed, and underlined the need to marry freedom with responsibility.