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Chicago Booth Announces New Scholarship for MBA Students from India

A $1 million gift from the Tobaccowala Foundation of India will fund a new scholarship for MBA students from India studying at the University of Chicago Booth School of Business, the school announced this week.

Students who receive the scholarship will be designated Akhtarali H. Tobaccowala Fellows, in memory of the 1952 graduate of Chicago Booth who was a director of Tata Group, chairman of Voltas Ltd., a unit of Tata, and founder of Impact India. 

“My sister Moeena Iyer and I are delighted to make this gift in memory of our father so more students from India can learn from the world class Chicago Booth faculty,” Rishad Tobaccowala said in a statement. “Our father believed strongly in the power of education and we feel the same way.” A 1982 graduate of Booth, the younger Tobaccowala is now chief innovation and strategy officer for VivaKi, the digital media unit of Publicis Groupe.

Scholarships will be available to students in Booth’s full-time MBA program whose primary home is in India at the time the scholarship is received. Prospective students can apply at

According to the school, 83 students from India are enrolled in Booth’s full-time MBA program this year, and 527 students from India have attended the program since 2001.

“India sends the most students to Chicago Booth of any country other than the U.S.,” Chicago Booth Dean Sunil Kumar said in a statement, adding that scholarship support is important to the school’s efforts to attract the best and brightest candidates. “We are very grateful to the Tobaccowala Foundation for its generous gift,” Kumar said.

To learn more, click here.

Posted in: Financial Aid, MBA News

Schools: U. Chicago Booth

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