Hmmm... This is interesting:
"We have already short-listed at least five teachers and discussions are on with the heads of different departments to recruit them on a permanent basis," said Dhande, while talking to TOI on Tuesday. He said that besides permanent recruitment, a few senior experts would be invited on contract basis to teach at the IITs.
And this paragraph is even more interesting:
The package offered by IITs was comparable to the remunerat ion paid by the European institutions in terms of PPP (Purchasing Power Parity).