The Indian Institute of Technology Bombay (IIT-B), a premier institution renowned for its cutting-edge research and academic excellence, has reported a significant 22% increase in its research funding for the academic year 2023-24. The institute has garnered a total of ₹700 crore in funding for its research and development projects, marking a substantial rise from the ₹576 crore and ₹502 crore received in the preceding years of 2022-23 and 2021-22, respectively.
This surge in funding underlines IIT-B’s expanding role in driving innovation and technological advancement in India. While public-sector organisations continue to provide a substantial portion of these grants, an encouraging trend is the growing contribution from private industries, which accounted for approximately 35% of the total funding in the past year. This diversification in funding sources reflects the increasing confidence of the private sector in IIT-B’s capabilities and its potential to deliver impactful research outcomes. The institute’s research projects, which span a period of two to five years, cover a diverse array of disciplines.
In addition to its core strengths in science and engineering, IIT-B is expanding its research portfolio to include areas such as management, design, and social sciences. This multi-disciplinary approach is expected to enhance the institute’s capability to address complex challenges and foster innovation across sectors. Among the significant projects currently underway at IIT-B are two major initiatives sponsored by the Maharashtra state government. The Maharashtra Drone Mission aims to position the state as a global leader in drone technology by developing advanced capabilities and applications in this domain. Additionally, IIT-B is working on a project to use artificial intelligence for the translation of higher and technical education textbooks into Marathi, thereby promoting inclusivity and accessibility in education. The Maharashtra government has allocated ₹151.8 crore to IIT-B for these projects over the next five years.
Moreover, the institute is collaborating with the Union Ministry of Textiles on an innovative project to develop technology for manufacturing hydrogen pressure vessels using textile-based composites, known as the TeCoPV project. This initiative represents a significant step towards leveraging textile technologies for advanced manufacturing applications, positioning India at the forefront of sustainable technology development. The increase in research funding highlights IIT-B’s strategic focus on innovation, interdisciplinary research, and industry collaboration. By securing substantial support from both government and private sectors, IIT-B is well-positioned to contribute to India’s technological and economic growth, reinforcing its status as a leading global research hub.
