FedEx grants IIT Madras, IIT Bombay 5 million US dollars to develop sustainable logistics

NEW DELHI: Indian Institute of Technology Madras (IIT-M) and IIT Bombay have announced collaboration with FedEx, the largest express transportation companies, to set up ‘FedEx Centre of Excellence (CoE) for Smart and Sustainable Supply Chains’. The company has granted 5 million US dollars each to develop sustainable logistics advancements.

“This initiative, supported by a five-year grant from FedEx, aims to drive sustainability through digital intelligence, technological advancements, talent, and collaboration,” the official statement said.

“This collaboration is poised to redefine logistics industry standards by synergizing technology and India's talent pool and address the complexities of cross-border logistics through innovation and the seamless integration of digital intelligence,” it added.

“Centre of Excellence” to be established at the IIT Bombay campus as part of the initiative as well as the institute’s BTech discipline in Industrial Engineering and Operations Research (IEOR), set to commence from the next academic year.

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The company will fund research-driven projects, foster start-ups in the logistics sectors, the IITs said. “Furthermore, the CoE aims to forge robust collaborations between industry and academia, solidifying its role as a catalyst for impactful advancements in the logistics domain,” the institute said.

IIT Madras director V Kamakoti said: “In collaboration with FedEx, we are committed to establishing a hub where technology and talent converge to drive sustainable logistics. With a specialized focus on operations research and network planning, we aim to spearhead developments that optimize efficiency, enhance strategic planning, and contribute to the broader landscape of sustainable logistics advancements.”

IIT Bombay director Subhasis Chaudhuri said: “IIT Bombay is committed to working closely with industry leaders to support the development of scalable and futuristic solutions and enable young, deserving minds that can facilitate the advancement of industries and solve the grand challenges being faced by them at the national and global level.”