The Indian Institute of Technology-Hyderabad is all set to receive a grant of Rs.1,336 crore (23,035 million Japanese Yen) from the Japan International Cooperation Agency (JICA), officials said following an MoU signed between the agency and the Union government. As per the agreement, IIT-H would use the aid to develop its campus by 2018.
The loan will be given at a concessional rate of 1.40% and the repayment period is 30 years with a grace period of 10 years. The loan proceeds would be utilised for constructing permanent buildings on campus and procurement of high-end research equipment. Further, the agreement entails technical cooperation under which eminent professors from the University of Tokyo would aid in developing concept designs and architectural plans for some of the important campus buildings. The agreement was signed in New Delhi by Shinya Ejima, chief representative, JICA India Office and Rajesh Khullar, joint secretary (Bilateral Cooperation), ministry of finance, Government of India.
“This is a phenomenal boost to IIT-Hyderabad and it will put the institute within the world class category,” U B Desai, director of IIT-H said. “The buildings that will come up with the Japanese collaboration and design include a library, guest house, convention centre, sports and cultural complex, research park and incubation centre, and a research centre complex, among others,” he added. The IIT is also expected to purchase a significant number of research equipment with the loan.
The IIT-H and Japanese universities are already collaborating in five key research areas, Desai explained. “The areas include next generation communication technology, sustainable development, design and manufacturing, nanotechnology, and energy and environment. These are the cutting edge research areas of the times,” he said. The Japanese collaboration would give the institute grants for faculty and student exchange programmes, he added.
According to the MoU, technical cooperation project envisages enhanced academic, research and human exchange network, besides carrying joint research under SATREPS (Science and Technology Research Partnership for Sustainable Development). The project is a result of the understanding reached between the Prime Ministers of the two countries last year.
Shinya Ejima said that India should provide its youth with skills and education that help them work in the rapidly developing economy. “The loan for the development of IIT-Hyderabad would go a long way in providing quality infrastructure to this newly established IIT. Further, with the technical cooperation with University of Tokyo, the project will contribute to improve the quality and quantity of higher academic institutions in the area of science and engineering in India,” he said.
The loan will be given at a concessional rate of 1.40% and the repayment period is 30 years with a grace period of 10 years. The loan proceeds would be utilised for constructing permanent buildings on campus and procurement of high-end research equipment. Further, the agreement entails technical cooperation under which eminent professors from the University of Tokyo would aid in developing concept designs and architectural plans for some of the important campus buildings. The agreement was signed in New Delhi by Shinya Ejima, chief representative, JICA India Office and Rajesh Khullar, joint secretary (Bilateral Cooperation), ministry of finance, Government of India.
“This is a phenomenal boost to IIT-Hyderabad and it will put the institute within the world class category,” U B Desai, director of IIT-H said. “The buildings that will come up with the Japanese collaboration and design include a library, guest house, convention centre, sports and cultural complex, research park and incubation centre, and a research centre complex, among others,” he added. The IIT is also expected to purchase a significant number of research equipment with the loan.
The IIT-H and Japanese universities are already collaborating in five key research areas, Desai explained. “The areas include next generation communication technology, sustainable development, design and manufacturing, nanotechnology, and energy and environment. These are the cutting edge research areas of the times,” he said. The Japanese collaboration would give the institute grants for faculty and student exchange programmes, he added.
According to the MoU, technical cooperation project envisages enhanced academic, research and human exchange network, besides carrying joint research under SATREPS (Science and Technology Research Partnership for Sustainable Development). The project is a result of the understanding reached between the Prime Ministers of the two countries last year.
Shinya Ejima said that India should provide its youth with skills and education that help them work in the rapidly developing economy. “The loan for the development of IIT-Hyderabad would go a long way in providing quality infrastructure to this newly established IIT. Further, with the technical cooperation with University of Tokyo, the project will contribute to improve the quality and quantity of higher academic institutions in the area of science and engineering in India,” he said.
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