Indore (Madhya Pradesh): The educational landscape in Indore, which is already recognised as an educational hub of Madhya Pradesh, has witnessed a remarkable surge in revenue from research and consultancy projects. Indian Institute of Management Indore (IIM Indore), Indian Institute of Technology Indore (IIT Indore) and Devi Ahilya Vishwavidyalaya (DAVV) have all reported substantial increase in earnings over the past three financial years, according to the latest data from National Institutional Ranking Framework (NIRF).
The consistent growth in revenue from research and consultancy projects not only highlights the increasing industry collaboration but also the growing impact of these institutions on the national and global academic landscape. ‘With their rising research and consultancy capabilities, IIM Indore, IIT Indore and DAVV are poised to contribute even more significantly to innovation and development in India,’ Prof Santosh Vishwakarma, a faculty member at IIT Indore said.
IIM Indore | FP PHOTO
IIM Indore: A leap in consultancy revenue IIM Indore, known for its world-class management education, has significantly bolstered its consultancy income. In the fiscal year 2020-21, the institute earned approximately Rs 26.72 crore from 30 consultancy projects. By FY 2022-23, this figure had risen to Rs 30.18 crore from 64 projects. Particularly noteworthy is the elite B-school’s dramatic increase in revenue from a mere Rs 30.17 lakh in FY 2020-21 to a staggering Rs 9.12 crore from just four projects in FY 2022-23.
IIT Indore |
IIT Indore: Growth in research and consultancy IIT Indore, a premier engineering institute, also recorded impressive gains. The institute's revenue from research projects grew from Rs 25.63 crore in FY 2020-21 to Rs 35.13 crore in FY 2022-23, with the number of projects increasing slightly from 37 to 39. Additionally, earnings from consultancy projects saw a significant jump from Rs 1.56 crore in FY 2021-22 to Rs 4.94 crore in FY 2022-23.
DAVV | FP Photo
DAVV: Steady progress in research, consultancy Devi Ahilya Vishwavidyalaya (DAVV), traditionally considered weaker in research output compared to its counterparts, has also shown encouraging signs of growth. The university’s earnings from research projects increased modestly from Rs 2.99 crore in FY 2020-21 to Rs 3.08 crore in FY 2022-23. On the consultancy front, DAVV saw a more pronounced rise, with earnings growing from Rs 36.19 lakh from three projects in FY 2020-21 to Rs 58.92 lakh from 13 projects in FY 2022-23.
