Nilekani’s Rs 315 cr aid to IIT-B is largest by alumni in India
The Memorandum of Understanding was formally signed on Tuesday in Bengaluru by Nandan Nilekani and Prof Subhasis Chaudhuri, Director, IIT Bombay.
CHENNAI: Nandan Nilekani, co-founder and chairman of Infosys Ltd and founding chairman of UIDAI, has donated Rs 315 crore ($ 38.5 Million) to his alma mater, IIT Bombay (IIT-B).
This contribution builds upon his previous grants of Rs 85 crore to the Institute, bringing the cumulative value of his support to Rs 400 crore. The donation will be instrumental in fostering world-class infrastructure, stimulating research in emerging areas of engineering and technology, and nurturing a deep tech start-up ecosystem at IIT Bombay.
The Memorandum of Understanding was formally signed on Tuesday in Bengaluru by Nandan Nilekani and Prof Subhasis Chaudhuri, Director, IIT Bombay.
Nilekani joined IIT Bombay in 1973 for a Bachelor’s degree in electrical engineering. The donation marks the golden jubilee of Nilekani’s association with the Institute and reflects the deep bond he continues to share with his alma mater. It also stands as one of the largest donations made by an alumnus in India.
Nilekani said, “IIT-Bombay has been a cornerstone in my life, shaping my formative years and laying the foundation for my journey. As I celebrate 50 years of my association with this esteemed Institution, I am grateful to give forward and contribute to its future. This donation is more than just a financial contribution; it is a tribute to the place that has given me so much and a commitment to the students who will shape our world tomorrow.”
Pegging it as the beginning of a new era of IIT Bombay, director Chaudhuri said, “This historic donation will significantly accelerate the growth of IIT Bombay and will firmly set it on a path of global leadership. Nandan’s contribution will catalyse philanthropic contributions towards advancing research & development at universities in India.”
IIT Bombay’s strategic plan for the coming decade includes setting up world-class centres of excellence in strategic areas such as Artificial Intelligence, green energy, quantum computing and others, nurturing a deep tech start-up eco-system, and providing best-in-class research, living, and academic facilities to students and faculty. The plan envisages fundraising of about $500 mn over the next five years. Nilekani’s anchor contribution will help the Institute kick-start its plans and inspire others to join this transformative initiative.
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