How Harvard et al make money while IITs don’t
Long held thought is the prestigious IITs (Indian Institutes of Technology) don’t produce enough research due to paucity of funds. They are dependent on the Central Government’s HRD Ministry for their annual budgets and research grants.
However, the renowned Harvard University, has internal funds to the tune of $38Bn and even has a Hedge Fund to manage it. Not only Harvard, but every US university of repute has internal revenue generation from fund management activities. They invest in stocks, bonds and futures and thus generate billions of dollars to invest in research and other superior academic works.
Recently Harvard has decided to outsource its fund management activities to professional fund managers as their internal Hedge Funds didn’t generate greater returns.
So, for IITs to invest more on research, allow them to tap the market.
Will the Government of India listen?