Indian conglomerate, ITC Limited, with a diversified presence across sectors including FMCG, hotels, software, packaging, and paperboards has announced it has tied up with the Indian Institute of Technology, Delhi (IIT Delhi) to support research in identified STEM (Science, Technology, Engineering, and Mathematics) areas.
The company has signed a memorandum of understanding (MoU) with IIT Delhi in this regard. According to the company, the identified research areas will help India achieve the Sustainable Development Goals (SDG) and include domains like energy storage, low carbon cold transportation, and plastic bio-degradation among others.
“The company has embarked on the next horizon of sustainable excellence with a comprehensive Sustainability 2.0 vision, which resolves to ‘Build Back Better,” said Prabhakar Lingareddy, Executive Vice President and Head – Social Investments, ITC Limited.
According to Lingareddy, the objective is to leverage the technical expertise of institutions such as IITs and support R&D activities in identified areas, “which will accelerate India's journey towards achieving its SDGs,” he said.
Speaking on the new partnership, Sunil Kumar Khare, Dean, Research & Development, IIT Delhi said, “The collaboration will combine the cutting-edge research at IIT Delhi with the application know-how of ITC to accelerate innovation and develop solutions for a variety of end-use applications of our customers and society at large.”
The industry and academia collaboration will help strengthen the public research and innovation ecosystem of India, IIT Delhi stated in a release.