Nandan Nilekani donates ₹315 crore to IIT-Bombay

Infosys co-founder Nandan Nilekani announced on Tuesday he was donating ₹315 crore to IIT-Bombay, which he joined in 1973, obtaining a Bachelor’s degree in electrical engineering.

The reason? The completion of 50 years of his association with the institute, first as a student, and then in various roles, including being on its Board of Governors from 2011-2015, and more.

In a press statement, IIT-Bombay noted that including a previous contribution of ₹85 crore, Nilekani has donated total ₹400 crore to the institute. This initial contribution, IIT-B said, was ‘instrumental’ in construction of new hostels, co-financing the School of Information Technology, and establishing the country’s maiden university incubator.

What will IIT-Bombay do with the latest contribution?

Laying out its future plans, IIT-Bombay said it will need a fundraising of $500 million ( ₹4,106 crore) over the next five years. Nilekani’s donation, which amounts to $38.5 million, will, therefore, act as an ‘anchor contribution’ and help the institute kick-start plans to achieve its stated objectives.

Nilekani, IIT-Bombay statements

The former UIDAI chairman described IIT-Bombay as a ‘cornerstone in my life.’

“I am grateful to give forward and contribute to its future. This donation is more than just a financial contribution; it is a tribute to the place that has given me so much and a commitment to the students who will shape our world tomorrow,” he said.

Prof. Subhasis Chaudhuri, Director, IIT-B, remarked this was the beginning of a ‘new era’ in the institute’s history.