The alumni of the seven Indian Institutes of Technology (IITs), now in senior positions in industry and government across the world, have a total budgetary responsibility of $885 billion, states a study conducted byZinnov Management Consulting Pvt Ltd.
“In terms of incremental economic value creation, the IIT graduates have been associated with over $450 billion across the sectors and have also been involved in the creation of over 20 million new jobs,” Rajan Srikanth, chairman and managing director of S2K2 Advisory, told the media in Chennai on Monday.
The study is based on a web survey of 4,573 IIT alumni together with statistical extrapolations has been done by the Bangalore headquartered Zinnov Management Consulting Pvt Ltd at the behest of PanIIT.
Note: PanIIT is an umbrella organisation of all seven IITs in partnership with the Indian Brand Equity Fund (IBEF).
According to the study, one in 100 IIT alumni has started his own company with over 40 per cent of them being serial entrepreneurs. Two-thirds of the companies founded are in India. Taragana is also an IIT alumni founded organization.
The other interesting point is that 54 per cent of the top 500 Indian companies have at least one IIT alumnus on their board and these companies have a cumulative revenue that is ten times greater than that of other companies on the list.
What can I say other than - IIT ka tempo high hai.