A professor at IIT-Delhi said that the initial announcement of the endowment fund will be between ₹175 crore to ₹225 crore.. To be sure, a ₹225 crore endowment fund to begin with will not be tough for IIT-Delhi. Though this is different from an endowment fund, it indicates the institutions ability to raise funds from external sources. For example, Harvard University has an endowment corpus of over $39 billion and Stanford has an endowment corpus of $27.7 billion. An endowment fund will give the IIT more financial freedom in designing its research projects and centers of excellence, hiring needed scholars and students financial help systems.

Source: Mint October 21, 2019 05:56 UTC