The Ministry of Human Resource Development granted the Institution of Eminence (IoE) status to Indian Institute of Technology Bombay (IIT Bombay) along with IIT Delhi and IISc Bangalore on July 9, 2018.
The Hon’ble Union Human Resource Development Minister Shri Prakash Javadekar congratulated the newly granted Institute of Eminence and tweeted the names of IIT Bombay and IIT Delhi. These Institutes will receive government grants of Rs 1000 crores in next five years. "This will help these institutes to grow rapidly to a scale and improve quality and add new courses. Also, do whatever is needed to become world-class institutions," the Minister said.
The IoEs are proposed to have greater autonomy in comparison to other higher education institutions. For instance, they will be free to decide their fee for domestic and foreign students and have a flexible course duration and structure. Moreover, their academic collaborations with foreign institutions will be exempt from approvals of government or UGC except institutions based in MEA and MHA’s list of negative countries.