FedEx commits $10 mn to IIT Bombay and IIT Madras
This initiative will contribute to the establishment of a Centre of Excellence, located within the IIT campuses
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Mumbai: FedEx Express (FedEx), a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies, has committed a $10 million corporate social responsibility grant to the Indian Institutes of Technology (IIT) Bombay and Madras. This collaboration reaffirms FedEx’s commitment to advancing technology, leveraging talent, sustainability, and fostering startup growth.
This initiative will contribute to the establishment of a globally recognized "Centre of Excellence" (COE), strategically located within physical infrastructure on both IIT campuses. This COE will spearhead research and development while concurrently nurturing a dynamic talent pool, supporting fellowship programs for Master's and doctorate students, and actively catalyzing the growth of the startup ecosystem in India.
Raj Subramaniam, President and CEO of FedEx Corporation, underscored the significance of this initiative, stating, "At FedEx, we aspire to make supply chains smarter for everyone. Beyond reshaping the logistics landscape, we are also committed to making a meaningful contribution to our communities. We know our collaboration with these esteemed institutions will be important in achieving those goals.”
Prof. Subhasis Chaudhuri, Director, IIT Bombay, said, “IIT Bombay is committed to working closely with industry leaders to support the development of scalable and futuristic solutions and enable young, deserving minds that can facilitate the advancement of industries and solve the grand challenges being faced by them at the national and global level. Our collaboration with FedEx is a significant step in supporting the development of advanced logistics. These efforts in addressing some of the most pressing challenges such as digital transformation of supply chains and the integration of digital twins, will go a long way and create a profound impact.”
Prof. V. Kamakoti, Director, IIT Madras, said, “Together with FedEx, we are determined to create a hub where technology and talent converge to drive sustainable logistics. With a specialized focus on operations research and network planning, we aim to spearhead developments that optimize efficiency, enhance strategic planning, and contribute to the broader landscape of sustainable logistics advancements.”
The collaboration between FedEx and IIT Bombay and Madras is poised to redefine logistics industry standards by synergizing technology and India's talent pool. The primary focus will be on addressing the complexities of cross-border logistics through innovation and the seamless integration of digital intelligence.
