INR 5 Cr donation from philanthropist and IIT (BHU) graduate Naresh C. Jain will help establish the new school, a future global leader in producing decision-makers who will contribute to the progress of society.
(Albany, N.Y.) February 15, 2022 — The IIT (BHU) Foundation, a U.S.-based all-volunteer, non-profit association of IIT (BHU) alumni, announced that Naresh C. Jain, IIT (BHU) graduate (MEC ‘67), prolific philanthropist and founder of Diamond Express Car Wash, Inc., has donated INR 5 Cr to the IIT (BHU) Foundation. The significant donation from Jain, who is also the foundation’s Chairman, will help establish the infrastructure of IIT (BHU)’s new school, which will bear Jain’s name as the Naresh C. Jain School of Decision Sciences and Engineering. This school will train the technical manpower of this institute and beyond, in all aspects of people and process management by having motivated and dedicated faculties with an enabling course curriculum that provides layered learning experiences.
The Naresh C. Jain School of Decision Sciences and Engineering will offer a Master of Technology and a Ph.D. program in Decision Sciences and Engineering with emphasis on practical learning and applied research. The focus will be on four research areas: Logistics and Supply Chain Management, Manufacturing Systems Engineering, Healthcare Systems Management and Agribusiness Management. Thanks to Jain’s tremendous contribution, this new school will be closer to achieving its objectives of engaging in cutting-edge research in the areas of technology and management of Decision Sciences and Engineering including organizing national and international seminars, establishing state-of-art laboratories, and much more.
“There is no better education I could have received than the one I received at IIT (BHU), which was called Banaras Engineering College (BENCO) when I graduated in 1967,” says Jain, who earned his B.S. in Mechanical Engineering before moving to the U.S. and entering the prestigious Master’s program at Cornell University. “I was fortunate to get a full scholarship at BENCO which included tuition fee, room and board. I feel indebted to Indian taxpayers who paid for my education. Now I feel obligated to pay back my debt to my alma mater. I’m confident that we will achieve our mission for the School of Decision Sciences and Engineering, which is to become a global leader in producing excellent decision makers with professional integrity and values who will contribute to the progress of the society.”
Arun Tripathi (MEC ‘97), President of the IIT (BHU) Foundation, noted that Naresh Jain is a longtime supporter of IIT (BHU) and would send funds to students in need at the Institute via Western Union, when the IIT (BHU) Foundation did not exist. “He is one of our most accomplished alumni and the binding force behind this Foundation,” Tripathi said. “With this gift, we’ve secured half of the funding we need for the infrastructure of this new school. He is demonstrating not just loyalty and support for his alma mater, but a true belief in the mission and vision of this new school and everything it will do to help leaders of the future.”
Director of IIT (BHU), Dr. P. K. Jain and the Board of Governors also expressed their gratitude and recognized the significance of this INR 5 Cr gift by Naresh Jain. “With the nation’s economy developing at a rapid rate, the role and responsibility of educational institutions, particularly of the ones that are of national importance and deal with education and training in the field of engineering and technology, have been dynamically changing at an extraordinary rate,” Dr. Jain said. “The Naresh C. Jain School of Decision Sciences and Engineering will go a long way toward preparing engineering and technology students to successfully undertake future challenges, quite often not even known during the time of their studies, and to contribute to the growth, prosperity and happiness of the society.”
Visit IIT (BHU) Foundation for more details about the Foundation and our other generous benefactors.
About Naresh C. Jain (MEC ‘67)
After graduating from Banaras Engineering College (BENCO) in 1967, now called IIT (BHU), with a BS in Mechanical Engineering, Naresh traveled to the United States to further his education. In 1969, he was accepted into Cornell University’s prestigious Master’s program with tuition aid from the National Aeronautics and Space Administration (NASA).
Naresh worked on and programmed the sensor arms for NASA’s Moon Rover in 1969 to procure funds for his education. From 1982 through 1988 he was the EVP of Hartmarx Corporation and subsequently EVP of Pincus Brothers, Inc. until 1996. In 1999, he created Diamond Express Car Wash, Inc.; a group of car washes which is still in operation today.
Naresh has always been a prolific philanthropist, especially amongst the underprivileged. In 2011, he founded the Naresh C. Jain Scholarship fund, which sends 24 students a year to IIT, tuition-free. Naresh strongly believes that it is a moral obligation of each of us to help our alma mater and our country of birth, India, which is still a poor country.
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