It is a new beginning for the 5-year old IIT-Hyderabad in the city with the Cabinet Committee on Economic Affairs (CCEA) nod for a joint project with Japan that aims at value addition for the young IIT.

The CCEA, which met on Thursday, approved the ‘collaboration of IIT, Hyderabad, and Japan’, to be executed via an Official Development Assistance loan from the Japanese government and the Union HRD ministry.

The project cost of Rs 1776.50 cr will be met through the ODA loan of Rs 1501.72 cr while the balance of Rs 274.77cr will be borne by grants from the ministry between 2013-14 and 2016-17.

The project is expected to enhance cooperation in the area of science and technology and human resource development. ‘’It is a great initiative and we are all extremely happy,” said Prof Uday B Desai, director of IIT Hyderabad. He further said that the project would add value through collaborative interactions between academics and with the industry of Japan and exchange of students and faculty. “We already have a faculty on exchange programme here. Now, we will have more of exchange of students and faculty apart from more collaboration in developing basic infrastructure, research equipment, joint projects and research,” he said.

The collaboration is an externally-aided Central sector project resulting from the broader Indo-Japan Collaboration and an agreement between the Indian prime minister and Japan for a Japanese loan to fund specific IIT-H projects.

source: http://www.newindianexpress.com / The New Indian Express / Home> Cities> Hyderabad / by Express News Service – Hyderabad / August 03rd, 2013