The Economic Times reports that the plan is in very early stages. But it is a serious plan:
Work has already begun though. A concept note has been prepared and a couple of PAN-IIT members have broached the subject with the Union HRD ministry. Details regarding the location of the proposed institute and the funding model it would follow remain to be worked out.
‘‘There has been a discussion at the top ministry level and initial talks have been positive. We could look at a PPP (public-private-partnership) model or the new IIT could be a gift to the nation, or we could look at some other arrangement. But that has not yet been finalised,’’ added Desai.
This plan will require a great deal of money. Thus, if it does go through, and if much of this money is to come from Pan-IIT alumni, the flow of alumni contributions to the existing IITs will certainly take a hit.