President Ramnath Kovind today launched Endowment Fund of Indian Institute Technology Delhi at Rashtrapati Bhavan today. The Fund is expected to grow with contributions from IIT alumni who are now in senior management positions or are industry leaders. "Delighted to launch the endowment fund of IIT Delhi. Confident that this will act as catalyst for other institutions across the country to launch similar initiatives. My best wishes to @IITDelhi and its alumni for taking this pioneering initiative in the country," President Ramnath Kovind tweeted of the event.
Speaking on the occasion, the President said that endowments globally have become integral to the financial health of educational institutions over time. While we are still far from the size and importance of endowment funds of Institutions such as Harvard, Yale or Columbia, it is the right first step in this direction. By giving through endowments, alumni are not just giving to their institution but they are also supporting and nurturing future generations of learners.
In the latest QS World University ranking 2020, IIT Delhi was ranked at 182. There is a lot of scope for improvement if it aims to be one of the top institutes in the world. It needs to increase the number of faculty particularly faculty with international experience. Additionally, it needs to upgrade its infrastructure to ensure its campus, course content and research facilities are completely world-class. He expressed hope the institute will make use of the valuable contribution from the alumni to bring changes in these areas.
The President said that throughout history our educational institutes have been the beacons of our culture. We have a tradition of universities showing the way for the people in society and enriching lives. He urged all to devote some amount of their time for the benefit of the not-so-fortunate sections of society by picking up any cause of their choice. He said that it can be the empowerment of the divyang, or rehabilitation of destitute women, or helping children in distress. The cause does not matter, only their will to make a difference does.