The Hindu Business Line : Jain body to set up ‘knowledge cities’ in metros

Chennai, April 27 The Jain International Trade Organisation (JITO), a global network of Jain businessmen and professionals, plans to start a fund whose corpus will go towards the establishment of ‘knowledge cities’ in Delhi, Mumbai, Kolkata and Chennai.

The corpus is to be formed by donations from JITO members and how much they will pool in is not yet known.

But it is expected to be substantial, because JITO intends to buy at least 100 acres in each city for the purpose.

The ‘knowledge city’ will house all kinds of educational institutions, including universities.

JITO has done such a thing before. Last year, it called for donations to set up a fund to create an institute that would coach Jain students to take up IAS and IPS examinations. Members donated liberally — a corpus of Rs 70 crore was formed.

The first of six such training institutes has come up in New Delhi, which has so far coached 33 students.

The next will come up in Chennai and JITO is working against a deadline of August.

As in Delhi, the institutes’ facilities will be provided free-of-cost, but the services are open to only Jain students.

In the experience of the Delhi institute, it costs Rs 70,000 to prepare one student to face the UPSC examinations, according to Mr Suresh Mutha, Chairman, JITO (Chennai Chapter).

‘Unable to grow’

At a JITO meeting here on Sunday, speakers urged members of the community to knit themselves closely to the benefit of all Jains.

Mr Kuldeep Jain, Partner, Mckinsey & Co of the US, pointed out that while the Jains were a minority of 1.5 crore people in India, they accounted for 15 per cent of income-tax payments.

“We have done well for ourselves, but the challenge is to take it forward,” he said.

The meeting discussed mentoring of young Jain entrepreneurs by established businessmen of the community.

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