FedEx commits $10 Million to IIT Bombay, IIT Madras; plans creation of ‘Centre of Excellence’ to nurture talent pool

Through the partnership, FedEx aims to establish the ‘Centre of Excellence’ within both IIT campuses, that will steer research and development, and more.

FedEx Express, a subsidiary of FedEx Corp, has committed to a corporate social responsibility grant of USD 10 million to the Indian Institutes of Technology (IIT) in Bombay and Madras.

FedEX plans ‘Centre of Excellence’, commits $10 Million to IIT Bombay & IIT Madras(AP)

According to a press release, through the CSRG fund, FedEx aims to establish a globally recognized "Centre of Excellence" (COE), strategically located within physical infrastructure on both IIT campuses, that will steer research and development. At the same time, the COE will also nurture a dynamic talent pool, support fellowship programs for Master's and doctorate students, and actively catalyze the growth of the startup ecosystem in India.

Raj Subramaniam, President and CEO of FedEx Corporation, said that the organization aspires to make supply chains smarter for everyone. He said, “Beyond reshaping the logistics landscape, we are also committed to making a meaningful contribution to our communities. We know our collaboration with these esteemed institutions will be important in achieving those goals.”

Speaking on the collaboration, Prof. Subhasis Chaudhuri, Director of IIT Bombay, said that the partnership with FedEx is a significant step in supporting the development of advanced logistics. “These efforts in addressing some of the most pressing challenges such as digital transformation of supply chains and the integration of digital twins, will go a long way and create a profound impact,” he added.

Likewise, Prof. V. Kamakoti, Director, of IIT Madras also highlighted that the collaboration aims to create a hub where technology and talent converge to drive sustainable logistics. “With a specialized focus on operations research and network planning, we aim to spearhead developments that optimize efficiency, enhance strategic planning, and contribute to the broader landscape of sustainable logistics advancements.” the IIT Madras Director added.

(To know more, visit the official website)