Home IIT Colleges The Three IITs earned over Rs 396 crore via consultancy projects

The Three IITs earned over Rs 396 crore via consultancy projects

The Three IITs earned over Rs 396 crore via consultancy projects
The three IITs earned over Rs 396 crore

The three IITs earned over Rs 396 crore via consultancy projects, IIT Madras makes Rs 174 leading others. (IIT-M) Indian Institute of Technology-Madras (IIT-M) grabbed consultancy projects worth Rupees 173.5 crore over the past 3 years, way ahead of other engineering institutions.

According to the Union HRD ministry’s NIRF report for 2016, IIT Roorkee and IIT Delhi are ranked second and third respectively among the IITs, in grabbing consultancy projects received. Together, the three IITs earned over Rs 396 crore through consulting.

Over the past three years, 8 branches of the premier institute (IIT-M) earned more than Rs 5 crore individually in consultancy projects.

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Leading Roorkee, second on the list, by over Rs 60 crores, IIT-M is first on the list. Way back in 1973 IIT was first to set up “Industrial Consultancy Centre”, this is the reason why IIT-M has emerged as the first choice for consultancy projects by industry and government organisations.

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Professor B Ramamurthy, IIT-M director said: “Industry Consultancy Centre was set up IIT Madras in the 1970s when it initially dealt in civil, ports and automobile engineering only,”. Gradually, it started diversifying into other areas, including pharmacy,” also the fact that Chennai industrial base helped the institute to grow as industrial consultant,”

According to the National Institutional Ranking Framework 2016 rankings, Indian Institute of Technology Madras is also the top-ranked engineering institute in the country.

At IIT-M, around 45% of the faculty members are engaged in consultancy for Industry or government and “in coming 4 to 5 years, will take this to 60%”,

In all, 92 projects have been accepted by the government of India under the (UAY) Uchhatar Avishkar Yojana, with an aim to boost research while giving students of premier institutes as the more market-oriented mindset, with an expense of Rs 282 crore. Out of these 92 projects, 23 are worth more than Rs 100 crore over the next 3 years.

In past 10 years, IIT-M priority is of research-based industrial consultancy, focusing on product development.

IIT-M Research Park’ is the first-of-its-kind facility that empowers the engagements with the industry and more and more organisations are setting up important labs.

Source: TOI

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