Indian Institute of Technology Bombay (IIT Bombay) has recorded a substantial 22% increase in research funding from external sources over the past three academic years, underscoring its position as a leading hub for innovation and technological advancement. This surge in funding aligns with India’s strategic objectives of enhancing technological self-reliance and expanding its global footprint in cutting-edge research.
The institute secured Rs 700 crore in extramural funding for the 2023-24 academic year, compared to Rs 576 crore in 2022-23 and Rs 502 crore in 2021-22. This consistent growth in funding reflects IIT Bombay’s expanding role in fostering innovation across diverse domains such as science, engineering, management, and social sciences. Notably, 35% of the funding originates from non-governmental sources, highlighting robust support from industry and international collaborators. The increase in funding has enabled IIT Bombay to establish multidisciplinary research centres aimed at addressing complex societal and industrial challenges. These centres are pivotal in driving innovative solutions that benefit a wide range of stakeholders, including both public and private sectors.
The research projects undertaken span a broad spectrum, from short-term consulting engagements to long-term sponsored research, typically lasting between two to five years. Among the notable projects receiving support is the “TeCoPV India” initiative funded by the Ministry of Textiles. This project aims to develop indigenous, cost-effective hydrogen storage solutions using textile-based composites. It focuses on enhancing India’s capabilities in gaseous hydrogen storage through risk assessment and life cycle analysis. Meanwhile, the “Maharashtra Drone Mission,” backed by the Government of Maharashtra’s Technical Education Department, involves an investment of Rs 151.8 crore over five years.
This ambitious project is set to establish Maharashtra as a global leader in drone technology through the development of indigenous technological capabilities. The recent influx of research funding has positioned IIT Bombay among the ranks of world-class institutions, further enhancing its reputation for academic excellence and innovation. The institute’s faculty and students continue to contribute significantly to generating new knowledge and technology, bolstering India’s stature on the global stage. The funding surge not only accelerates the pace of research and development at IIT Bombay but also reflects its alignment with India’s broader vision of technological leadership and self-reliance. As the institute continues to push the boundaries of knowledge, it remains committed to its mission of producing impactful research that drives progress in both academic and industrial spheres.
