The 20 new IIITs approved recently are being established on the PPP model.
Setting the ball rolling on the establishment of the Indian Institute of Information Technology in Nagpur, the state government on Tuesday decided to charge just Re1 rent for the next 30 years, for a 40-hectare plot in Nagpur which would house the institute. The proposal for the institute had been approved by the Union government in May.
The proposal to give the land at a pittance to the IIIT was put up by the Higher and Technical Education Department, and was cleared by the cabinet last Tuesday, said a top official.
The two plots in the Varanga village of Nagpur district, measuring about 36 hectares and 4 hectares each, have been given to the institution for 30 years. The rental period can be extended even after that period comes to an end.
The prestigious institute aims to develop professional expertise and skilled manpower in Information Technology (IT) and related areas.
The Institute would be based on public-private partnership which would comprise the Union and state governments and industry. The institute would be fully autonomous. It would work on the no-profit-no-loss principle, the government has said. Moreover, the institute would be self-sustaining and research-based.
"The government has already chosen two private partners- Tata Consultancy Services and Nagpur's ADCC Infocad, which will hold 7.5% stake each. The state government will hold 35% and the remaining 50% will be with the Centre," said Dr Sanjay Chahande, Principal Secretary, Higher and Technical Education Department.
As of now, there are four IIITs in India, IIIT-Allahabad; IIIT-Gwalior; IIIT Design and Manufacturing, Jabalpur; and IIIT Design and Manufacturing, Kancheepuram. They are fully funded by the Union government.
The 20 new IIITs approved recently are being established on the PPP model.
The newer IIITs will initially be registered as societies under the Societies Registration Act 1860. In this respect they will be unlike the older IIITs, which have got a special status as Institutes of National Importance under the Indian Institute of Information Technology Act.
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