IIT Madras Collaborates with Caterpillar Inc. for Research and Innovation
IIT Madras has collaborated with Caterpillar Inc., to strengthen and align the innovative capabilities of both organisations through joint research in technology.
IIT Madras Collaborates with Caterpillar Inc.
Indian Institute of Technology (IIT) Madras is going to partner with Caterpillar Inc for joint research on technologies, as a ‘Global University Partner’. A MoU was signed by Bhuvan Anandakrishnan, Vice President - Engineering and Country Manager, Caterpillar Inc., India, and Prof. V. Kamakoti, Director, IIT Madras, Prof. Manu Santhanam, Dean (ICSR), IIT Madras, Prof. Shaikh Faruque Ali, Department of Applied Mechanics and Biomedical Engineering, besides other stakeholders.
The collaboration will be done through joint research and development in the technology areas, the implementation of continuing education programmes, and various talent initiatives that include sponsoring innovation clubs and technical events. Also, the partnership will provide IITM students opportunities for internships and full-time employment.
Welcoming this collaboration, Prof. V. Kamakoti, Director, IIT Madras, said, “Caterpillar Inc. is a multidisciplinary company with relevance to multiple departments of IIT Madras. I have no doubt that the collaboration will lead to several exciting products that will be of global standards.”
Further, Bhuvan Anandakrishnan, Vice President - Engineering and Country Manager, Caterpillar India, said, “We are proud to enter into an extended Memorandum of Understanding (MoU) with the Indian Institute of Technology Madras (IITM), further strengthening our long-standing partnership. This collaboration aims to enhance joint research, consultation, as well as talent development in the engineering and technology space, aligning with Caterpillar's Global University Collaboration Model.”
Speaking about this collaboration, Prof. Manu Santhanam, Dean (ICSR), IIT Madras, said, “IIT Madras is at the forefront of industry collaboration in the country. Our engagement with Caterpillar is entering a new realm, with IITM becoming a Global University Partner for Caterpillar, which will increase the interaction and bring in more exciting collaborative projects from across the branches of Caterpillar all over the world.”
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The highest package offered and the number of offers made in top IITs during 2023 placements is presented in the following table:
| IIT Name | the highest Package (2023) | No. of Offers (2023) |
|---|---|---|
| IIT Madras | INR 1.31 crore per annum | 1,612 |
| IIT Delhi | INR 2.40 crore per annum (international) | 1,300 |
| IIT Bombay | - INR 3.67 crore per annum (international) - INR 1.68 crore per annum (domestic) |
1,788 |
| IIT Kanpur | INR 1.90 crore per annum (domestic)* | 1,200* |
*The placement details are fetched from media reports.
The IIT Madras average package has not been released. However, the median salary is out. Comparing the last two-year median package details, an improving trend was recorded in IIT Madras MBA and M.Tech courses. For UG (BTech, DD, IDDD), MS (Science streams), and PhD courses, the median package dropped from 2022 to 2023. Alongside this, the median package for MS (Engineering streams) and MA (Humanities and Social Sciences) has been stagnant over the past two years. For a better understanding, take a look at the below table depicting the IIT Madras placement package comparison for 2022 and 2023:
| Course | Median Package (2022) | Median Package (2023) |
|---|---|---|
| UG (BTech, DD, IDDD) | INR 18 LPA | INR 17 LPA |
| MTech | INR 13.02 LPA | INR 15 LPA |
| MS- Engineering Streams | INR 15 LPA | INR 15 LPA |
| MSc- Science Stream | INR 14 LPA | INR 9.62 LPA |
| MA (Humanities and Social Sciences) | INR 13.69 LPA | INR 10.95 LPA |
| MBA | INR 15.35 LPA | INR 20.80 LPA |
| PhD | INR 16.50 LPA | INR 15 LPA |
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The institute has released the 2024 placement report on the official website. However, there are no data points to conclude the placement statistics. The key highlights of IIT Madras placements 2024 are presented below:
Particulars
Placement Statistics (2024) (phase 1)
Median package
INR 19 LPA
Internship offers
19% increase compared with previous year
Placement rate
50% students placed
Top recruiters
JP Morgan Chase, Texas Instruments, Adobe
Note: The above-mentioned placement data is sourced from media reports and, hence may vary.