IndiGo Co-Founder Rakesh Gangwal Donates Rs 100 crore for New Facility at IIT-Kanpur

The Indian Institute of Technology, Kanpur received one of the largest personal donations on Monday from IndiGo Airlines co-founder Rakesh Gangwal.

The IIT alumnus donated Rs 100 crore to establish the School of Medical Sciences and Technology on its campus, with a 500-bed super-specialty hospital.

The medical school will be known as the Gangwal School of Medical Sciences and Technology.

The aim is to produce leaders in clinical research and medical technology.

The director of IIT-Kanpur, Abhay Karandikar, took to Twitter to make the announcement. He called the donation an “extraordinary gesture”.

“@IITKanpur’s family is thankful for the #Philanthropy of Mr Rakesh Gangwal and his family,” he said in a Twitter thread.

Gangwal was born in Kolkata and received a bachelor’s degree in mechanical engineering from IIT-Kanpur in 1975, followed by an MBA from the University of Pennsylvania’s Wharton School. He has also received IIT-Kanpur’s Distinguished Alumnus Award.

However, following the appointment of billionaire co-founder Rahul Bhatia to the newly created executive role of managing director last month, Gangwal stepped down from the airline’s board of directors and announced a five-year plan to gradually reduce his stake, putting an end to a years-long feud with Bhatia.

THE GANGWAL SCHOOL OF MED SCIENCES AND TECH

The Gangwal School of Medical Sciences and Technology will be built in phases.

The first phase of the project will include the construction of a 500-bed super-specialty hospital, an academic block, a residential hostel and a service block, with a total built-up area of approximately 8,10,000 square feet.

This phase will also include the establishment of Centres of Excellence (CoE) to conduct R&D in futuristic medicine. It is expected to be completed within the next three to five years.

Phase II of the project will see the hospital’s capacity increase to 1,000 beds, as well as the addition of paramedical disciplines, alternative medicine, hospital management, sports medicine and public health programmes, and the expansion of clinical departments/centres and research areas.

Additionally, there will be an inclusion of paramedical disciplines, alternative medicine, hospital management, sports medicine and public health programmes. Phase II is expected to take between seven and 10 years.

According to the tweet by Karandikar, the donation agreement was signed in Mumbai on April 4 and several professors from the institution were present at the event.

Another well-known IIT-Kanpur alumnus Hemant Jalan, who has contributed Rs 18 crore in the past, was among the guests.

IIT-Kanpur has been soliciting finance for this project, which is expected to cost Rs 600 crore.

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