Even as job cuts and cost-cutting measures in various sectors are casting shadow over economies, alumni of premier institution IIT can certainly make a useful contribution in changing the face of businesses in trying times.

For, IIT alumni in leading positions in the industries and governments across the world today have a budgetary responsibility of over $885 billion (Rs 40 lakh crore). They are associated with over $450 billion (Rs 20 lakh crore) of incremental economic value creation in addition to being instrumental in creation of over 20 million new jobs.

These inspiring accomplishments of IITians across geographies and careers is revealed by a web-based survey and interim study on Impact of IIT Alumni by PanIIT, an umbrella organisation of all seven IITs, in partnership with Indian Brand Equity Fund (IBEF).

The study finds that IITs have graduated around two lakh students from seven campuses since 1954 (including Roorkee before it got IIT status). Of these, 40% were from undergraduate programme and 60% from graduate programme.

When evaluated across industry, government, entrepreneurial activity and scientific/technological innovations, the study reveals that among the IIT alumni who graduated prior to 2001, four out of 10 are in top-leadership roles in corporations, educational institutions, research labs, NGOs, governmental agencies, politics and as entrepreneurial heads of their own companies.

No wonder, after witnessing boom in post-reform era, many IItians staged a homecoming and among IIT alumni who are in top-leadership roles, 7 out of 10 are currently based in India with 2 out of 10 being returnees who come back to India after careers in other parts of the world.

Around 54% of the top 500 Indian companies currently have at least one IIT alumnus on their board of directors. One in five IIT alumni work in research & education.

Revealing an emphatic trend on academics and research, the study shows that around 75-80% of IIT alumni in research & education continue to work in science and technology related areas.

Half of the IIT alumni in research and education are based in India, and of these two out of five are returnees who have come back to India.

Contributing their might towards social upliftment, one in 10 IIT alumni are currently engaged in social transformation, working in NGOs, government administration or politics. One in 10 IIT alumni have started their own companies with over 40% of them being serial entrepreneurs.

Two-thirds of the companies founded are in India, the study says. Complete report will be made public at annual IIT alumni global conference-PanIIT 2008, to held in Chennai between December 19 and December 21.