FedEx Commits USD10 Million to IIT Bombay and IIT Madras
FedEx Express has committed a USD 10 million corporate social responsibility grant to the IIT Bombay and Madras.
FedEx Express (FedEx) is a subsidiary of FedEx Corp. (NYSE: FDX) and one of the world’s largest express transportation companies.
Establishment
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.
Significance
Raj Subramaniam, President and CEO of FedEx Corporation, underscored the significance of this initiative. ‘He said at the organization, they aspire to make supply chains smarter for everyone.’
Beyond reshaping the logistics landscape, we are also committed to making a meaningful contribution in our communities, said Raj Subramaniam.
We know our collaboration with these esteemed institutions will be important in achieving those goals, he said.
‘And, to 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, said IIT Bombay director.
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, said director of IIT Madras.
Collaboration
The collaboration between IIT Bombay and Madras and the company 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.
It uses a global air-and-ground network to speed the delivery of time-sensitive shipments by a definite time and date.
S Vishnu Sharmaa now works with collegechalo.com in the news team. His work involves writing articles related to the education sector in India with a keen focus on higher education issues. Journalism has always been a passion for him. He has more than 10 years of enriching experience with various media organizations like Eenadu, Webdunia, News Today, Infodea. He also has a strong interest in writing about defence and railway related issues.
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