Director Damodar Acharya, who announced an overall development plan of Rs 400 crore, said the institution requires a fairly high number of students and faculty members to make a real dent in academics and serve society.
The ministry of human resource development (MHRD) will provide the bulk of the funds for the projects. The institute plans to build, in two phases, 200 new classrooms at a cost of Rs 22.17 crore.
The institution wants to increase the number of its students from 7000 at present to 12,000 in the next five years and to 24,000 in the next 10. The number of teachers will be increased also.
"IIT Kharagpur today laid the foundation stones of four laboratory complexes for four streams over an area of 10,000 sqm at a cost of Rs 9.1 crore," said Sanjiv Goenka, chairman of the board.
IIT Kgp is doing away with the old faculty accommodation and erecting a high-rise. It will spend, in phases, Rs 65.74 crore on faculty accommodation and Rs 13.93 crore for staff expansion. The institute, which takes up about 2100 acres, has used only 800 acres for its teaching and research facilities.
The institution is offering, among other courses, a dual degree programme in engineering and entrepreneurship. Those who get through the five-year course will receive a BTech degree.
"We want our students to not only be employment seekers but also employment generators. The course will help the students acquire the right skills," said the director.