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Industry has to transfer money or billable materials to the IIT (e.g., some machine or component, or chemicals/intermediaries, or software licenses) whose value can be documented precisely and independently assessed.
Manpower cost borne by industry cannot be billed to project.
He is a Fellow of the Indian National Academy of Engineering since 2000.It is upto the IIT to decide how to distribute the released amounts under various heads, as long as the expenditure limit under each head for the govt. Please note that if a project proposal is for Rs.1 lakh in total, Rs.25,000/- has to come from industry.