
Rakesh Gangwal’s ₹400 Crore IIT Kanpur Commitment: How an Indian-American Entrepreneur Is Investing in India’s Next Generation of MedTech IndiGo co-founder and IIT Kanpur alumnus Rakesh Gangwal has committed a total of ₹400 crore to his alma mater’s medical school, including a new ₹300-crore matching-grant pledge. The initiative offers a revealing example of how successful Indians who built careers abroad are helping create technology-driven institutions in India. From an Indian engineering campus to global aviation When Rakesh Gangwal graduated from IIT Kanpur with a degree in mechanical engineering in 1975, the institution was already establishing itself as one of India’s leading centres for science and engineering. Nearly five decades later, Gangwal is helping expand that engineering legacy into a completely different domain: medicine. On August 24, 2026, IIT Kanpur announced that Gangwal had committed another ₹300 crore toward the development of the Gangwal School of Medical Sciences and Technology (GSMST). The new commitment comes on top of the ₹100 crore he donated in 2022, taking his contribution to the project to ₹400 crore. Indian Institute of Technology Kanpur The latest commitment is particularly significant because it is structured as a matching grant. Gangwal will match contributions from other supporters up
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