In a landmark philanthropic initiative rooted in legacy and nation building, the Motilal Oswal Foundation (MOF) has committed ₹172 crore towards two of Chhattisgarh’s premier educational institutions, the Indian Institute of Management (IIM) Raipur (₹101 crore) and the National Institute of Technology (NIT) Raipur (₹71 crore).
The formal signing of the Memoranda of Understanding (MoUs) was held on Aug 8 at DDU Auditorium, Raipur in the august presence of Chief Minister Shri Vishnu Deo Sai, Deputy Chief Minister Shri Vijay Sharma. Also present were Shri Brijmohan Agrawal, Member of Parliament, Raipur constituency and Shri Rajesh Munat, MLA, Raipur (West), Dr. Suresh Haware, Chairman NIT Raipur, Shri Puneet Dalmia, Chairman IIM Raipur, Dr. N. V. Ramana Rao, Director NIT Raipur, Dr. Sanjeev Prashar, Incharge Director IIM Raipur, IAS Dr. S. Bharthidasan, Secretary, Department of Skill Development along with Mr. Raamdeo Agrawal, senior officials from IIM Raipur, NIT Raipur, and the Government of Chhattisgarh.
This initiative, spearheaded by Mr. Raamdeo Agrawal, Chairman and Co-founder of Motilal Oswal Financial Services and Trustee of Motilal Oswal Foundation, is deeply personal. A proud native of Nagpura, a village near Raipur, Mr. Agrawal is giving back to the land of his birth and early education by investing in institutions that will define the region’s future.
The support to IIM Raipur will enable the construction of the “Agrawal Oswal Student Residence,” a 202-room hostel, and the “Dau Ram Gopal Agrawal Knowledge Centre,” an academic block named in memory of Mr. Agrawal’s late father. These additions are part of the institute’s expansion and will help increase the institute’s capacity from 500 to 1,200 students by 2030. The funding will also facilitate the launch of six international two-year dual degree MBA programs in collaboration with leading universities from the USA, UK, France, and Germany, enabling global education and preparing students from Bharat for international careers. It will help position IIM Raipur as an eminent institution in the top league.
At NIT Raipur, the Foundation is helping to establish the “Smt. Mithilesh Agrawal Centre of Excellence for Innovation and Entrepreneurship in Engineering and Technology” (MACIEET), named after Mr. Agrawal’s late mother. This initiative is being carried out in collaboration with NIT Raipur and the Government of Chhattisgarh. The centre will feature advanced laboratories focusing on AI, Robotics, Blockchain, IoT, and Clean Energy, along with facilities for prototyping, start-up incubation, and skill development. Its goal is to train over 10,000 young people, incubate over 250 start-ups, and generate 5,000 skilled jobs by 2030, aligning closely with the state’s key industrial sectors such as mining, iron, and steel. This will make NIT Raipur a centre of innovation.
Construction is scheduled to commence in FY2025-26, with both projects expected to be operational by FY2027-28. This philanthropic commitment by the Motilal Oswal Foundation supports the national vision of Viksit Bharat @2047 by empowering India’s youth with access to global quality education, skill-building, and entrepreneurship opportunities.
Mr. Raamdeo Agrawal, Trustee of Motilal Oswal Foundation, said, “Chhattisgarh is where my roots lie. As a farmer’s son, I grew up close to this land. This soil, its spirit, and its simplicity have shaped my values and my journey. My first steps in learning were taken here, and everything I could do in life draws strength from that foundation. Education opened doors I had never imagined, and I have seen how the right support at the right time can change the course of a life. This support to the IIM Raipur and NIT Raipur is life coming full circle for me where I have got an opportunity to support Chhattisgarh based Institutions of National Importance. My dream is to see world-class institutions rise from this region, offering young minds an environment where they feel inspired, supported, and confident to dream big.”
Mr. Motilal Oswal, Chairman of the Motilal Oswal Foundation, added, “This milestone is deeply personal for me. Raipur gave me a business partner and a lifelong friend, Raamdeo Agrawal, a son of this sacred soil. Our journey, spanning over 40 years, was built on shared values, trust, and the quiet force of compounding of effort, ideas, and intent. This contribution is a heartfelt tribute to the land that sowed the seeds of our growth. We hope these institutions will produce hundreds of students like Raamdeo to rise with confidence, purpose, and the courage to dream big.”
Dr. Suresh Haware, Chairman, Board of Governors, NIT Raipur, said, “This landmark tripartite collaboration is a powerful catalyst for progress, uniting philanthropy, government, and academia. The Smt. Mithilesh Agrawal Centre of Excellence is more than just a building; it’s the foundation for a new era of innovation in Central India. By fostering deep-tech research and nurturing an entrepreneurial spirit, we are creating a self-sustaining ecosystem that will empower our youth, strengthen our industries, and establish Chhattisgarh as a hub of technological advancement. This unique partnership serves as a powerful model for driving regional growth and national self-reliance.”
