Mumbai: The Indian Institute of Technology Bombay (IIT-B) has reported a substantial increase in research and development (R&D) funding, with an almost 39.44% rise compared to 2021. According to data shared by the institute, it has received ₹700 crore for the 2023-24 academic year, marking its highest funding in the last three years. In contrast, the institute secured ₹500 crore in the 2021-22 and ₹576 crore in the 2022-23 period for its R&D efforts.
The press statement issued by IIT Bombay stated that the significant boost in funding comes as part of IIT Bombay’s dedicated efforts to align its R&D objectives with India’s broader goal of achieving technological self-reliance. The institute has established several large, multidisciplinary research centres designed to tackle complex problems through a collaborative approach that involves researchers from various academic fields.
The IIT Bombay is currently working on major projects, including Hydrogen pressure vessel manufacturing, using textile-based composites TeCoPV, India: The Ministry of Textiles has funded this project. The project will establish a platform for indigenous, cost-effective, and safe gaseous hydrogen storage potential, risk assessment and life cycle analysis.
IIT-B is also working on the Maharashtra Drone Mission: The Technical Education Department (Government of Maharashtra) has funded a project with an outlay of ₹151.8 crores (over 5 years) to foster indigenous technology development and establish Maharashtra as a global leader in drone technology.
Professor Shireesh B Kedare, director, of IIT Bombay said, “Faculty members and students at IIT Bombay are actively engaged in research across diverse areas such as science, engineering, design, management, and the humanities. Each year, new R&D projects are launched, including both short-term consulting projects and long-term sponsored research endeavours, with durations typically ranging between two to five years. These projects are funded through grants from both government and non-governmental organisations.”
{{/usCountry}}Professor Shireesh B Kedare, director, of IIT Bombay said, “Faculty members and students at IIT Bombay are actively engaged in research across diverse areas such as science, engineering, design, management, and the humanities. Each year, new R&D projects are launched, including both short-term consulting projects and long-term sponsored research endeavours, with durations typically ranging between two to five years. These projects are funded through grants from both government and non-governmental organisations.”
{{/usCountry}}This year the institute has received 35% of the total R&D grant from industries, the rest of the grant is received from the government. Kedare further stated that the close integration of academics and research at IIT Bombay has propelled the institution into the global arena of world-class educational and research institutes. “We are closely working on various government research projects which help us to get more grants from various departments of the government,” Kedare added.
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