The MOF is promising Rs 101 crore to IIM & Rs 71 crore to NIT Raipur
Indian Institute of Management Raipur (IIM Raipur) and the National Institute of Technology Raipur (NIT Raipur) will be receiving Rs 172 crore from Motilal Oswal Foundation (MOF). The Foundation is pledging Rs 101 crore to IIM Raipur and Rs 71 crore to NIT Raipur. This effort has been launched by Raamdeo Agrawal, chairman and co-founder of Motilal Oswal Financial Services and trustee of the Motilal Oswal Foundation.
The funding to IIM Raipur will facilitate the construction of the Agrawal Oswal Student Residence, a 202-bed hostel, and the Dau Ram Gopal Agrawal Knowledge Centre, an academic block dedicated to Agrawal's late father.
These additions are included in the institute's expansion and will contribute to the institute's capacity to expand to 1,200 students from 500 by 2030. The funding will also enable the institute to introduce six international two-year dual degree MBA programmes in association with universities from the USA, UK, France, and Germany, to enable global education and prepare students from India for global careers. It will place IIM Raipur in the limelight as a prestigious institute in the upper league, an official statement released to this effect stated.
At NIT Raipur, the Foundation is supporting the creation of the Mithilesh Agrawal Centre of Excellence for Innovation and Entrepreneurship in Engineering and Technology (MACIEET) in memory of Agrawal's late mother. The project is being implemented in partnership with NIT Raipur and the Government of Chhattisgarh.
The hub will have state-of-the-art labs in AI, Robotics, Blockchain, IoT, and Clean Energy, as well as prototyping, start-up incubation, and skill development facilities. It aims to train more than 10,000 youth, incubate more than 250 start-ups, and create 5,000 skilled employment opportunities by 2030, which is in line with the state's major industrial sectors like mining, iron, and steel. This will transform NIT Raipur into an innovation hub, the statement further said.
The construction is to be initiated during the financial year 2025-26, and both projects are likely to become operational by 2027-28. This philanthropic initiative by the Motilal Oswal Foundation reinforces the nation's vision of Viksit Bharat @2047 by empowering youth in India with exposure to international quality education, skill development, and entrepreneurship.
The pact was inked at DDU Auditorium, Raipur, in the presence of Chief Minister Vishnu Deo Sai and Deputy Chief Minister Vijay Sharma. The program was also graced by MP Brijmohan Agrawal, MLA Rajesh Munat, NIT Raipur Chairman Dr Suresh Haware, IIM Raipur Chairman Puneet Dalmia, NIT Director Dr NV Ramana Rao, IIM Raipur Incharge Director Dr Sanjeev Prashar, Skill Development Secretary Dr S Bharthidasan (IAS), Raamdeo Agrawal, and some high-ranking officials of IIM Raipur, NIT Raipur, and the Chhattisgarh government
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