FedEx Express commits $10 million to IIT Bombay and IIT Madras
Initiative will contribute to establishment of globally recognised Centre of Excellence within IIT campuses
FedEx Express, a subsidiary of FedEx, has committed a $10 million corporate social responsibility grant to the Indian Institutes of Technology (IIT) Bombay and Madras.
The initiative will contribute to the establishment of a globally recognised Centre of Excellence (COE) within the IIT campuses, says a release from FedEx Express. "This COE will spearhead research and development while concurrently nurturing a dynamic talent pool, supporting fellowship programmes for Masters and doctorate students, and actively catalysing the growth of the startup ecosystem in India."
Raj Subramaniam, President and CEO, FedEx
Raj Subramaniam, President and CEO, FedEx says: "At FedEx, we aspire to make supply chains smarter for everyone. Beyond reshaping the logistics landscape, we are also committed to making a meaningful contribution in our communities. We know our collaboration with these esteemed institutions will be important in achieving those goals.”
Subhasis Chaudhuri, Director, IIT Bombay adds: “IIT Bombay is committed to working closely with industry leaders to support the development of scalable and futuristic solutions and enable young, deserving minds that can facilitate the advancement of industries and solve the grand challenges being faced by them at the national and global level. Our collaboration with FedEx is a significant step in supporting the development of advanced logistics. These efforts in addressing some of the most pressing challenges such as digital transformation of supply chains and the integration of digital twins will go a long way and create a profound impact.”
The collaboration between FedEx and IIT Bombay and Madras is poised to redefine logistics industry standards by synergising technology and India's talent pool, the release added. "The primary focus will be on addressing the complexities of cross-border logistics through innovation and the seamless integration of digital intelligence."
V. Kamakoti, Director, IIT Madras says: “Together with FedEx, we are determined to create a hub where technology and talent converge to drive sustainable logistics. With a specialised focus on operations research and network planning, we aim to spearhead developments that optimise efficiency, enhance strategic planning, and contribute to the broader landscape of sustainable logistics advancements.”
