Larger private investment to come up at 20 new IIITs
Higher Education

Larger private investment to come up at 20 new IIITs

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The 20 new IIITs may come up with larger investment from the private sector and could introduce performance-based salary package for teachers to ensure quality, if a proposal of NASSCOM in this regard is accepted by the government. These new institutes will be set up in Private-public-partnership mode and the software exporters body, National Association of Software and Service Companies (NASSCOM), has prepared a Detailed Project Report for the purpose.

NASSCOM has proposed that the Indian Institutes of Information Technology be set up with INR 30 crore as initial investment, of which the government's share should not exceed INR 14.9 crore while the share of partnering companies should not be less than INR 15.1 crore. NASSCOM has also proposed that salary of faculty be linked to their output and the institutions have provisions of differential salary package. As per the proposal, the IIITs will be autonomous degree awarding institutions. Each institute will have its own Board of Governors comprising 13 members, including one representative from the government. The government will give a loan of INR 100 crore to each institute with five years moratorium period and repayable within ten years time, explained NASSCOM Vice President Rajdeep Sehrawat.

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