The Indian Institute of Technology (IIT) Mandi has been bolstered by a significant philanthropic contribution of more than $86,000, a sum approximately equal to Rs 75 lakh, from US-based benefactors Satish Agarwal and Kamlesh Agrawal. This generous grant, announced on November 19, 2025, is earmarked for establishing a sustainable endowment fund to advance the institute's long-term developmental goals.
Sustainable Endowment for Academic Excellence
The donation will formally create the Satish and Kamlesh Agrawal Charitable Fund, based in Houston, Texas, USA. This fund is designed as a self-sustaining financial engine for IIT Mandi. Its core principle is to preserve the principal corpus indefinitely, utilizing only up to 90% of the annual interest income for approved academic and institutional activities. This model ensures the fund's longevity and provides a consistent source of support for years to come.
The scope of the fund is broad and impactful, covering several critical areas of academia. These include providing student scholarships, fueling innovative research initiatives, offering travel grants for faculty and students, enhancing smart classroom facilities, and contributing to overall infrastructure development on campus.
Governance and Collaborative Execution
To ensure transparent and effective management, a dedicated Committee for Execution has been formed. This committee, composed entirely of IIT Mandi faculty members, will be responsible for overseeing the fund's allocation, selecting worthy projects, and making crucial reinvestment decisions.
The collaboration was facilitated by the IIT Roorkee Foundation (IITRF), USA. In a notable gesture of support, the foundation's Board of Directors ensured the full contribution was transferred to IIT Mandi without deducting any administrative expenses. The institute highlighted that IITRF board members personally bear operational costs to guarantee that beneficiary institutions receive the entire donated amount.
Leadership and Donor Perspectives
Prof Laxmidhar Behera, Director of IIT Mandi, expressed profound gratitude to the donors for their commitment to fostering higher education and innovation. He emphasized that such philanthropic partnerships are instrumental in strengthening the institute's academic and infrastructural objectives.
Echoing this sentiment, Prof Varun Dutt, Dean of Resource Generation and Alumni Relations (DORA), described the fund as a sustainable model of philanthropic engagement. He pointed out that this approach will consistently support academic excellence and research endeavors over an extended period.
Donor Satish Agrawal clarified the intent behind the contribution, stating that it is aimed at promoting education, research, and community-oriented development through the platform of IIT Mandi. This grant marks a significant step in bridging philanthropic support with institutional growth in India's premier educational landscape.
