IIT alumni body to raise Rs 50,000 cr for revitalising domestic research

IITs sceptical of funds benefitting campuses

The relatively new Indian Institute of Technology (IIT) Alumni Council has announced an “India Empowerment Fund” with an aim to raise Rs 50,000 crore in a decade, with a promise to rekindle domestic research.

It follows the council setting up a fund earlier this year for social initiatives and investment projects.

Launched on the eve of the IIT2020 “Future is Now” Virtual Summit being organised by the PanIIT USA, the alumni body’s fund is banking on a plea urging every former IITian to repay a sum that matched the subsidy he or she earned as a student.

“Every IIT alumnus, whether in India