New Delhi [India], Oct 31 (ANI): President Ram Nath Kovind launched endowment fund of Indian Institute Technology (IIT) Delhi at Rashtrapati Bhavan.
Speaking on the occasion, the President said that endowments globally have become integral to the financial health of educational institutions.
"While we are still far from the size and importance of endowment funds of institutions such as Harvard, Yale or Columbia, it is the right first step in this direction. By giving through endowments, alumni are not just giving to their institution but they are also supporting and nurturing future generations of learners," he said.
The President said that the best way to honour a gift is to make the best use of it.
In the latest QS World University ranking 2020, IIT Delhi was ranked at 182.
"There is a lot of scope for improvement if it aims to be one of the top institutes in the world. It needs to increase the number of faculty, particularly faculty with international experience. Additionally, it needs to upgrade its infrastructure to ensure its campus, course content and research facilities are completely world-class," he said.
The President expressed hope that the institute will make use of the valuable contribution from the alumni to bring changes in these areas.
According to an official release, the President said that throughout history educational institutes have been the beacons of culture.
"We have a tradition of universities showing the way for people and enriching lives," he said.
The President urged people to devote some amount of their time for the benefit of the not-so-fortunate sections of society by picking up any cause of their choice. (ANI)