Mumbai: The Indian Institute of Technology Bombay (IIT Bombay) has received a pledge of ₹130 crore from the Motilal Oswal Foundation.
Together, the two plan to built the institute's academic framework and created a financial markets curriculum.
According to the MoU, a 1 lakh–1.2 lakh sq. ft. Motilal Oswal Knowledge Centre will be established on the campus of IIT Bombay. This academic building will act as a center for creativity, scholarship, and academic distinction. The Motilal Oswal Knowledge Centre, which houses labs, research facilities, and collaborative spaces, aims to help IIT Bombay fulfil its goal of becoming a global leader in science and technology by attracting top talent.
This is the biggest commitment till date from the foundation setup by Motilal Oswal and Raamdeo Agrawal, the co-founders of MOFSL, pledging 10% of Motilal Oswal Financial Services equity, valued currently at ₹4,000 crores. This is also one of the largest corporate philanthropic contributions ever made to an Indian educational institution.
MOCM intends to provide a range of graduate, undergraduate, and post-graduate courses in financial markets. Additionally, the center hopes to provide flexible online Post Graduate Diplomas that are available to professionals all around the world. Offering students unrivalled access to business executives, practical instruction using real-world data, and the chance to influence the direction of the financial sector, MOCM promises to be a game-changer.
Prof. Shireesh Kedare, Director of IIT Bombay, expressed gratitude for the monumental support and said, "The Motilal Oswal Knowledge Centre will be a significant milestone in IIT Bombay's efforts to scale new heights of global excellence. This generous donation will help us modernize and advance our infrastructure, essential for fostering ground-breaking research. The establishment of the Motilal Oswal Centre for Capital Markets marks a pivotal moment for IIT Bombay. This initiative will not only elevate the institute’s stature in financial education but also solidify its position as a leading hub for nurturing the next generation of financial market leaders. It aligns perfectly with our broad vision of scaling new heights of global excellence and contributing to India’s leadership on the global stage. We are immense gratefulto Motilal Oswal Foundation for their visionary contribution.”
Commenting on the collaboration, Mr. Motilal Oswal, Trustee, Motilal Oswal Foundation, said, "At Motilal Oswal Foundation, we are committed to building aresearch backed educational ecosystem that will create a positive impact onfuture leaders of the nation. We are honoured to partner with IIT Bombay, an institution that is at the forefront of innovation and academic excellence. The Motilal Oswal Knowledge Centre as well as the Motilal Oswal Centre for Capital Markets stand as a testament to the power of strategic philanthropy and the pivotal role that partnerships between academia and industry can play in creating lasting societal impact. We believe this partnership will pave the way for a brighter, more innovative future for the country and its financial markets.”
