IIT-M beats peers in consultancy earnings

NEW DELHI: Indian Institute of Technology-Madras (IITM) bagged consultancy projects worth Rs 173.56 crore over the last three years, way ahead of other Indian engineering institutes.

According to the Union HRD ministry’s National Institutional Ranking Framework (NIRF) report for 2016, Roorkee and Delhi are ranked second and third among the IITs vis-à-vis the worth of consultancy projects received. Together, the three IITs earned over Rs 396 crore through such projetcs. In all, eight branches of the premier institute earned more than Rs 5 crore inpidually in consultancy projects over the past three years.

The fact that it was the first IIT to set up an `Industrial Consultancy Centre’, way back in 1973, is perhaps the reason why IIT-M has emerged as the preferred choice for industry and government organisations for consultancy projects. “Our Industrial Consultancy Centre was set up way back in the 70s, when it primarily dealt in civil, ports and automobile engineering. Gradually , it persified to other areas, including pharmaceuticals,“ professor Bhaskar Ramamurthy, IIT-M director, told TOI.

According to the NIRF 2016 rankings, the institute is also the top-ranked engineering institution in India.

At IIT-M, over 45% of the faculty are engaged in industrial consultancy and “in the next four to five years, we aim to take this to 60%“, Ramamurthy said.

In all, 92 projects have so far been accepted by the government under the Uchhatar Avishkar Yojana (UAY), rolled out with an aim to boost research while giving students of premier institutes a more market-oriented mindset, at an expense of Rs 282 crore.