The Indian Institute of Technology (IIT) Mandi has received a donation of more than $86,000 (approximately Rs 75 lakh) from US–based philanthropists Satish Agarwal and Kamlesh Agrawal. According to an official statement, the contribution will be used to establish the Satish and Kamlesh Agrawal Charitable Fund, Houston, Texas, USA, intended to support long-term developmental initiatives at the institute.
What will the grant fund?
The newly created fund will function as a sustainable endowment to support multiple academic and institutional activities. These include student scholarships, research initiatives, faculty and student travel grants, smart classroom facilities, and infrastructure development.
As per IIT Mandi, the fund will operate as a master account in which only up to 90% of the annual interest income will be utilised for approved purposes. The principal corpus will remain intact to ensure long-term financial sustainability.
A Committee for Execution comprising IIT Mandi faculty members will oversee the allocation of funds, project selection, and reinvestment decisions.
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IIT Mandi stated that the collaboration was enabled through the IIT Roorkee Foundation (IITRF), USA. The foundation’s Board of Directors supported the process by transferring the full contribution without deducting administrative expenses. According to the institute, IITRF board members bear operational costs from personal resources to ensure complete fund transmission to beneficiary institutions.
Director of IIT Mandi, Prof Laxmidhar Behera, expressed appreciation to Satish and Kamlesh Agrawal for supporting higher education and innovation through this philanthropic initiative. The institute noted that such collaborations help strengthen long-term academic and infrastructural goals.
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Prof Varun Dutt, Dean of Resource Generation and Alumni Relations (DORA), highlighted that the fund represents a sustainable model of philanthropic engagement that can support academic excellence and research efforts over an extended period. In his remarks, donor Satish Agrawal said that the contribution is intended to promote education, research, and community-oriented development through IIT Mandi.
