India, Aug. 8 -- The Chhattisgarh government on Friday signed two agreements with the Indian Institute of Management (IIM) Raipur, National Institute of Technology (NIT) Raipur and the Motilal Oswal Foundation to establish centres of excellence to drive innovation, entrepreneurship, and global academic opportunities, a state government statement said.

Chief minister Vishnu Deo Sai, who was present at an event to sign the two memorandum of understandings, said the MoUs would have a transformative impact to realise the state's long-term development vision. The foundation will provide Rs.71 crore to NIT and Rs.101 crore to IIM Raipur under the agreements.

The funds would be used to set up a state-of-the-art Mithilesh Agrawal Centre of Exce...