IIT-Bombay becomes the highest revenue generator among the IIT’s.

According to an HRD ministry report, in the last three years IIT-Bombay, the institute which was given the Institute Of Eminence tag by the ministry of HRD, has become the highest revenue generator through research, patents, inventions and consultancy among the top engineering colleges in India. Apart from IIT-Bombay, IIT-Madras and IIT-Delhi were amongst the top revenue-generating engineering colleges in India. According to the HRD ministry report, the revenue generated by IIT-Bombay from research, invention, patents and consultancy during 2017-18 was Rs.17.99 crore. During the year 2016-17 and 2015-16, the revenue generated was Rs.17.11 crore and Rs.10.55 Crore respectively. A senior HRD ministry official said that

“There is no relationship between the revenue generated by IIT’s and the annual budget allocated to them by the ministry in the form of grants-in-aid (GIA)”

A senior official said that the revenue generated by a college is based upon the number of research and consultancy projects undertaken by a college, the number of inventions and patents filled by an institute. According to the report, during the years 2017-18, 2016-17 and 2015-16 the revenue generated by IIT-Madras was Rs.11.67 crore, Rs.10.87 crore and Rs.7.15 crore respectively. The revenue generated by IIT-Delhi during the last three years was Rs.10.61 crore, Rs.8.841 crore and Rs.7.030 Crore respectively. Currently, there are 23 IIT’s spread across the country and only these three were amongst the top revenue-generating engineering institutes in India.