Chief Minister Prithviraj Chavan made the announcement to this effect on the last day of the winter session of state Legislature here on December 21.
It was a continuous follow up with the Union Human Resources Development Ministry after which the state government finally accepted the recommendations, Nagpur Lok Sabha MP Vilas Muttemwar said while welcoming the decision.
Muttemwar told reporters here yesterday that he first wrote to the then HRD Minister Murli Manohar Joshi in June 2002 for setting up the institute here and followed it up with the successive governments.
He said he also took up the issue with UPA Chairperson Sonia Gandhi in September this year who forwarded the request to concerned authorities.
As per the decision, 50 per cent of the cost is to be borne by the Centre, 35 per cent by the state government and remaining 15 per cent by private players.
The land is to be identified and provided by state government and identify the partner, he said.
About 59.26 acres of land has been identified in Pune for the purpose, he added.
IIITs are a group of four institutes of higher education in India- at Allahabad, Gwalior, Jabalpur and Kancheepuram-focused on information technology.
They are established by the central government, centrally funded, and managed by the Ministry of Human Resource Development.
