Indian Institute of Technology (IIT) Bombay has generated the highest revenue in last three years through research, inventions, consultancy and patents. It is highest among all the IITs across the country revealed Ministry of Human Resource Development (MHRD) data.
One of the most premier engineering institutes of India – IIT Bombay is followed by by IIT-Madras and IIT-Delhi in terms of revenue generated from these sources.
The institute generated revenue of Rs 17.99 crore during 2017-18 from inventions, research, consultancy and patents whereas during 2016-17 and 2015-16, the revenue generated by the institute was Rs 17.11 crore and Rs 10.55 crore respectively.
“There is no relationship between the revenue generated by IITs and the annual budget allocated to them by the ministry in the form of grants-in-aid (GIA),” a senior HRD Ministry official said.
“GIA is given for development of infrastructure and to meet recurring expenses such as salaries, fellowships, pensions and other administrative expenses. The amount of revenue generated depends on the number of inventions, research and consultancy projects undertaken and patents filed by an institute,” the official added.
IIT-Madras generated revenue of Rs 11.67 crore, Rs 10.87 crore and Rs 7.15 crore during 2017-18, 2016-17 and 2015-16 respectively.
IIT-Delhi generated Rs 10.61 crore, Rs 8.841 crore and Rs 7.030 crore during the corresponding periods.