KANPUR, India (Diya TV ) — Indian American entrepreneur Rakesh Gangwal has committed an additional INR 300 crore, or about $31.3 million, to support the Gangwal School of Medical Sciences and Technology at the Indian Institute of Technology Kanpur.
The latest pledge brings Gangwal’s total contribution to the medical school to INR 400 crore, or about $41.8 million. His earlier contribution of INR 100 crore came in 2022.
The new funding could help IIT Kanpur expand its plans for medical education, research and health care. It also strengthens Gangwal’s long-term support for the institute, where he studied and received the Distinguished Alumnus honor.
Under the new arrangement, Gangwal will provide matching grants of up to INR 300 crore. The grants will match contributions from other supporters of the Gangwal School.
Gangwal, who co-founded IndiGo, said he feels honored to support the project.
“It is an honour and a privilege to be part of this innovative and first-of-its-kind medical institution,” Gangwal said.
Meanwhile, IIT Kanpur Director Manindra Agrawal welcomed the new commitment. He said Gangwal’s first contribution helped the institute begin its plans for the medical school.
Agrawal added that the latest funding will help accelerate the project. He also thanked Gangwal for his continued support and trust in IIT Kanpur.
The Gangwal School has ambitious plans for the IIT Kanpur campus. The development includes a proposed 500-bed super-specialty hospital.
The school also plans a 200-bed cancer care research center. In addition, the school aims to bring doctors, researchers, engineers and technology experts together.
Anil K. Lalwani, the recently appointed dean of the Gangwal School, said the donation shows how private philanthropy can support innovation.
Lalwani said the school wants to connect medicine, technology and innovation. He also said the vision could have an impact beyond IIT Kanpur.
