Vardhman Group donates Rs.One crore for Establishment of advanced Computation Facility to Panjab University to boost Startup Ecosystem

Chandigarh, December 4, 2023: Chairman and Managing Director of Vardhman Group, Shri Paul Oswal, made a generous donation of Rs. 1 crore to the Alumni Relations corpus today under CSR fund. A Gold medalist from Panjab University, Oswal attributes numerous accolades to his training at Panjab University. In 2010, he was honored with the Padma Bhushan by the President of India. Additionally, he received the Udyog Ratna award from the PHD Chamber of Commerce & Industries in 2005, the Lakshya Business Visionary Award from the National Institute of Industrial Engineering in 2019, the Lifetime Achievement Award from the Cotton Association of India in 2022, the Textile Maestro Award from the ITME Society in 2022, and the Best CEO – Textile & Apparel award from the India Today Group in 2023. He attributes these achievements to his training and education at Panjab University.

"Panjab University holds a pivotal role in my life, influencing my early years and providing the bedrock for my personal journey. This donation signifies more than a mere financial contribution; it stands as a homage to the institution that has bestowed so much upon me and a pledge to the students who will forge the future of our world," expressed Oswal, who has maintained a continuous connection with the University in various capacities over the past many decades.

The contribution has been dedicated to enhancing infrastructure, establishing cutting-edge laboratories and classrooms, with a specific focus on burgeoning fields like Artificial Intelligence. This endeavor aims to empower Panjab University to establish a state-of-the-art AI Data Centre, catering to the computational needs of emerging startups in the region. Envisioned as a pivotal facility, the forthcoming Data Centre will integrate the NVIDIA DGX A100 as its universal system, delivering unparalleled compute density, performance, and flexibility—a groundbreaking 5 petaFLOPS AI system on a global scale.

The establishment of this AI Data Centre is poised to be a significant achievement for both Panjab University and the local startup ecosystem. It will serve as a catalyst for innovation by providing startups with the essential resources required for the development and deployment of cutting-edge AI applications, poised to make a positive impact globally. Furthermore, the AI Data Centre will serve as a direct gateway for startups to access PU's pool of AI experts, who will offer training and support necessary for the successful development and deployment of AI applications. Apart from this, the university envisions to use this fund for modernizing the classrooms and upgrading its other laboratories.

Describing it as the commencement of a transformative era for Panjab University, Vice Chancellor Prof. Renu Vig remarked, "We are immensely pleased to witness the impactful and pioneering contributions of our distinguished alumnus to the institution. This momentous donation will greatly expedite the university's advancement, firmly positioning it on a trajectory toward global leadership. The outlined plan also envisions a fundraising target of approximately Rs. 50 crores over the next one years."