Harvard Business School Receives $50M Gift From Indian Conglomerate

12/14/2010 04:12 am ET | Updated May 25, 2011

BOSTON — Harvard Business School has received a $50 million gift from India's Tata Group, the largest gift from a foreign donor in the school's 102-year history.

Harvard says the gift from the international conglomerate will fund a new academic and residential building on the business school's Boston campus for its executive education programs.

Ratan Tata, chairman of Tata Sons Ltd. and a graduate of the school's advanced management program, made the announcement Thursday with business school Dean Nitin Nohria and Boston Mayor Thomas Menino.

Harvard hopes to break ground next spring for the new Tata Hall.

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