Foreign companies in India could help fund, run IIITs

May 9, 2011

A Human Resources Development ministry panel recommends allowing multinational corporations operating in India to help fund and manage 20 new Indian Institutes of Information Technology. Under the plan, the industry consortium would contribute 15% of the funding required for the institutes. The India government would provide half of the funds, while state governments would contribute 35%. Private partners would occupy a quarter of the seats on the board of governors. Hindustan Times