Premiere IITs generate 138 Cr revenue from research, consultancy, inventions

NEW DELHI, JULY 24: The five premiere Indian Institutions of Technology (IITs) have together generated nearly Rs 140 Crore in revenue over past three years from inventions, research, consultancy and patents.

The five IITs - IIT Madras, IIT Bombay, IIT Delhi, IIT Kharagpur and IIT Kanpur, have continuously increased their revenue from their intellectual properties and earned Rs 35 Cr in 2015-Rs 16, 51.3 Cr in 2016-17 and Rs 52.38 Cr with IIT Bombay has been topping the list with Rs 45.65 Cr.

Prof Devang V Khakhar, Director, IIT Bombay, speaking on the achievement, said, “All the credit goes to our faculty members who have done very hard work, this has also been possible because good number of partnership with the industry for different kind of activities.”

The data was revealed on a question raised by the Rajya Sabha member Dr Kanwar Deep Singh on the amount of revenue generated by top five IITs during the last three years. Dr Satya Pal Singh, Union Minister of State for HRD had quoted the amount while replying that many IITs generated significant amount of revenue from inventions, research, consultancy and patents etc.

The revenue thus generated, however, is independent from the annual grant provided to these IITs. The Minister clarified that there is no relationship between the revenue generated by the IITs and the annual budget allocated to them by the Ministry in the form of grants-in-aid (GIA).

He said, “The GIA is given for development of infrastructure and to meet recurring expenses such as salary, fellowships, pension and other administrative expenses. The amount of revenue generated depends on the number of inventions, research and consultancy projects undertaken and patents filed by an Institute.”