IIT Delhi needs to reach a budget of Rs 2,000 crore per year: V Ramgopal Rao

NEW DELHI: The Indian Institute of Technology, Delhi needs a budget of Rs 2,000 crore per year to reach to the next level, V Ramgopal Rao, director of the institute said while addressing a press conference today.

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Rao said that the Institutions of Eminence (IoE) scheme has provided the institute Rs 1,000 crore. The institute has already received Rs 450 crore. The remaining amount of money will be utilised for infrastructure projects which are now being taken up. By the end of this year and early next year, they will be completed. Therefore, around 600 crores are meant for infrastructure projects.

He added that now they are building the corpus to the endowment fund and getting more industry projects and dean corporate relations. They are trying to get more funding. “According to data, in the last five years, we have interacted with at least 350 industry projects. 150 faculty members have done at least one project with industry in the past five years,” he said.

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They are now monitoring the process and trying to measure how more faculty members can be engaged with industries and how more funding can be extracted from the market.

Further, Rao took the example of two Chinese universities - Peking University and Tsinghua University and said that if one looks at their funding, their budget is the entire MHRD budget. While India doesn’t need the amount of budget they generate, in order to compete, India needs to reach a budget of Rs 2,000 crore, he said.

Apart from that, IIT Delhi director and Dean talked about matters such as 52nd convocation, institute’s ranking, new research centre, and conduct of offline and online classes during the conference.

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IIT Delhi will conduct the convocation 2021 tomorrow, November 13, for over 2,000 graduates. The chief guest of the 52nd convocation will be Padamashree Warrior, IIT Delhi alumna, founder and CEO of Fable.