Tata Powe announced that it will collaborate in areas of research and development (R&D), consultancy, policy advocacy, advisory, training and commercialisation of technologies and solutions, amongst others. They have signed a Memorandum of Understanding (MoU) to facilitate this collaboration. Considering IIT Madras' national and international excellence in technical education, basic and applied research, innovation, entrepreneurship and industrial consultancy and Tata Power's team of in-house experts, there is an immense potential for this collaboration to have a high transformational impact. As a part of the MoU, Tata Power and IIT Madras will aim to pursue advanced research in areas of future technology. The agreement also includes campus recruitment opportunities to postgraduate students of IIT Madras. A few objectives agreed upon by Tata Power and IITM as a part of the tie-up are Collaborative Research Projects including research-based and consulting projects supported by the Center for Industrial Consultancy and Sponsored Research (IC&SR), IIT Madras. Campus Recruitment will also be covered under the MoU and will involve recruitment of IIT Madras graduates for full time employment or as interns by Tata Power subject to company's organisational needs. This activity will be facilitated by the Placement Office, IIT Madras. Tata Power and IIT Madras may enter into modalities governing each of them with regard to research interaction visits and/or sabbaticals if any and through virtual means and /or invite each other to respective research laboratories for detailed discussions. In addition to this, Tata Power employees and IIT faculty can also participate on each other's committees and Boards. Under this initiative, employees of Tata Power can enroll for various degree programs such as M.Tech., M.S. and Ph.D. offered by IITM after securing admission through due process into the desired programs. IITM and Tata Power personnel can also jointly or individually offer short term training programs This will benefit students of IITM as well as the employees of company on topics of mutual interest. Tata Power and IIT Madras can also come together to engage in CSR realm. The company can also choose to make grants to support faculty research or to support students on scholarships and fellowships. Tata Power and IIT Madras may also explore to work together with the start-up companies collocated in the IITM Incubation Cell.