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IIT Hyderabad Receives $174.8 million financial aid from Japan

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Japan Financially Aiding IIT Hyderabad
Japan is all set to aid financial support to IIT Hyderabad (Indian Institute of Technology-Hyderabad). It will provide $174.8 million i.e. around 870 crore as a loan for development purpose. The IIT Hyderabad is receiving a biggest-ever amount aided to IIT's by foreign countries.

Experts of higher education and development say that it need a lot more effort on the standards of higher education in the state in order to boost infrastructure.

With the strongest support received the Institute is all set to raise nine state-of-art buildings, including special technology centre, new academic blocks and a research centre.

According to the sources, Authorities will also use some portion of money to acquire lab equipment, and officials said they would expand its current capacity and student strength from existing 1000 plus to more than 7,500 by 2018.

According to the experts, the biggest hurdle in the higher education sector across India is the shortage of well-trained faculties. Senior official of IIT Hyderabad said, they will increase the number of faculties over 100 by 2018 which will be more than 750.

A senior academic at the University of Hyderabad told "The talent pool is highly exciting in Hyderabad, and for Japan it is a truly exciting market as they are looking at more and more investments in education," said professor G Haragopal." IIT officials said they were overjoyed that the deal has been formally announced. The institute has been functioning at a temporary campus in Medak, and further development will happen in the new campus spread across 200 acres.

CP Chandrasekhar, professor at the Centre for Economic Studies and Planning, Jawaharlal Nehru University, said "The Japan agreement is boost for higher education in India and will definitely give a big boost to technology and development of institutions."

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