According to the Human Resource Development (HRD) data, the Indian Institute (IIT) Bombay generated the highest revenue among all the IITs. The revenue generated by the premium engineering institutes in the last three years was through research, inventions, consultancy, and patents.
The IIT-Bombay earned an average annual earning of Rs 17.99 crore during 2017-18. The revenue generated by the institute in 2016-17 and 2015-16 was Rs 17.11 crore and Rs. 10.55 crore respectively. While the premier IITs- Delhi, and Madras earned Rs 10.61 crore and Rs 11.67 respectively.
Some survey found that the IITs- Delhi, Kharagpur were plodding as the earnings from the patents were not suffice over the few years. On the other hand, IIT Madras earned from technology transfer fees and royalties’. Whereas, IIT- Bombay had the highest number of client organizations for sponsored research.
On 9th July, 2018, the HRD ministry awarded the “Institution of Eminence” (IoE) status to IIT- B, the highest revenue collected by the premier engineering institute in India. The award hold significant importance for generating revenues among the IITs, which are institutions of national importance establishes through Acts of Parliaments for fostering excellence in education. Along with IIT Bombay, IIT Delhi and IISc Bangalore received a grant from the HRD Ministry.
Furthermore, with the public institutes, HRD also granted IoE status to Jio Institue (Reliance Foundation), Pune Birla Institue of Technology & Sciences (BITS), Pilani Rajasthan, Manipal Academy of Higher Education, Manipal, Karnataka.