In a bid to address the challenges faced by the IT industry the HRD ministry has sanctioned the setting up of 3 new Indian Institutes of Technology (IITs) on public private partnership model (PPP). It is expected that shortly three more states may also be get to open an IIT each under the scheme.
The ultimate objective is to establish 20 such premier technology institutes on PPP model.
The major objective in establishing the IITs is to set up a model of education, which can produce best-in-class human resources in IT and harnessing the multi-dimensional facets of IT in various domains, sources in the HRD ministry said.
The IITs will be jointly set up by the HRD ministry, respective state governments and the IT industry.
"The project is targeted to be completed in a phased manner. Each IIT will meet its entire operating expenditure on its own within 5 years of commencement out of students' fees, research and other internal accruals," sources added.