The Indian Institute of Technology - Hyderabad is expected to get a major boost in research capabilities in the years to come with the cabinet committee on economic affairs finally approving a collaboration project with the government of Japan last week.
The project is expected to create value addition through interactions between academics and industry experts in Japan and the students and faculty of IIT-H. The collaboration was initiated during Prime Minister Manmohan Singh's visit to Japan earlier this year.
A release also said that the project would help in creation of a number of basic infrastructure facilities and scaling up of the institution in the coming years. The project is also expected to enhance cooperation between India and Japan in the area of science & technology and human resource development.
The cost of the project is Rs 1,776.50 crore, which will be partly funded under the Official Development Assistance (ODA) given by Japan's government and partly by grants given by the MHRD. The ODA loan will amount to Rs 1,501.72 crore and remaining is expected to come in the form of government grants over four years from 2013 to 2017 amounting to Rs. 274.77 crore.