Indian Institute of Technology Bombay (IIT Bombay), celebrates its Foundation Day on March 10, every year. The foundation stone for the internationally recognized Institute was laid by Pandit Jawaharlal Nehru, then Prime Minister of India on March 10, 1959. IIT Bombay was the second IIT to be established in the Country and the first one to be established with a foreign aid received from UNESCO. Since then the Institute has grown from strength to strength and is now counted among the best engineering institutions across the globe. The Distinguished Alumnus Awards and Young Alumni Achievers Awards are given on Foundation Day, besides two excellence in research awards to faculty members of IIT Bombay.