Mumbai: Godrej Industries (GIL) and its associate companies have announced the signing of a memorandum of understanding (MoU) with the Indian Institute of Technology, Bombay (IITB). The MoU is expected to facilitate Godrej to collaborate with IITB in a multitude of areas. Announcing this, GIL chairman Adi B Godrej said: "IIT Bombay is an institution of international repute in higher education, research and development. The Godrej and IITB campuses are located in close proximity to each other in Mumbai. I am very pleased to announce the beginning of this partnership with this great institution, which, I am sure, will bring great benefit to our businesses, while providing practical experience to the students. Such technology-oriented initiatives are necessary if India, as a nation, has to successfully compete globally." Under the MoU, GIL will:

• Sponsor student projects/fellowships in dual degree, masters and doctoral programmes at IITB
• Sponsor eligible employees of GIL to the MTech/PhD degrees at IITB.
• Sponsor R&D projects at IITB.

The areas covered under the MoU are chemical technology, information technology, design and packaging.

Expressing his happiness on this occasion, IITB director Prof Ashok Misra said: "We are delighted to initiate a formal association with a major business house like GIL. This kind of partnership will enhance the much-needed interaction between the industry and educational institutions and will help the Indian industry to emerge stronger."

The association with IITB will provide Godrej companies a great insight into IITBs research and developmental programmes. The partnership has been brought about by the Godrej Think Tank, which was formed a few months back at GIL to advise the group on future trends that are likely to impact the groups business.

GIL is a leading manufacturer of surface-active agents and oleochemicals. The company employs more than 1,500 people and has two modern manufacturing facilities at Mumbai and Valia, Gujarat. Its associate companies include Godrej Consumer Products, Godrej Sara Lee, Godrej Foods, Godrej Agrovet and Godrej Properties and Investments.