Private Firms to Run IIITs

If everything falls in the right place, overseas multinational firms running in India, will be able to partner with 20 new Indian Institutes of Information Technology (IIITs) and also run these. Corporate giants like Google and Yahoo will be given a green signal to join hands with these study centers, under a public-private partnership (PPP). The above partnership will be done under norms fixed by a panel set up Human Resource Development (HRD) Ministry.

The panel was set up by HRD minister Kapil Sibal, under former Infosys human resources head TV Mohandas Pai. This panel will be responsible for recommending selection of private individuals for the project.

According to HRD Ministry, a consortium of three to five firms be permitted to partner the Centre for each IIIT. In addition to this, individual firms will be restricted from partnering solely on an IIIT. Ministry also said that the partnership will be open for both IT and non-IT firms, under the Pai panel's blueprint.

Each industry partner will be required to invest at least Rs 2 crore, and the consortium of industry must contribute 15% of the funding, essential for IIIT. This contribution will be liable except in northeast states, where they will be required to offer 7.5% of the funds. 35% of the funds will come from the states government, while in most states the Centre will offer 50% and 57.5% in northeastern states.

Public-listed firms (operational for five years) and reputed bodies like ASSOCHAM, FICCI or CII will be also be eligible for participation. The same company can also be a part of consortiums running different IIITs.

Source: Prachi Srivastava (Shiksha Team)
Date: 10th May 2011