Global Journal of Finance and Management. ISSN 0975-6477 Volume 6, Number 5 (2014), pp. 457-468 © Research India Publications http://www.ripublication.com A De Novo approach for the Performance evaluation of Indian technical institutions Sobhan Sarkar 1 , Bijan Sarkar 2 1 M.Tech of Production Engineering, Jadavpur University, West Bengal 2 Professor of Production Engineering, Jadavpur University, West Bengal Abstract Education is the prime need of every citizen. Without this no one can sustain in this competitive world. Indian technical education system is enormous and complex both in primary level and higher level. India has 82 engineering colleges (IITs -16, IIMs – 13, IISC – 1, IISERs – 5, Nits – 30, IIITs – 4, NITTRs – 4, Others (SPA, ISMU, NERIST, SLIET, NITIE & NIFFT, CIT) - 9) but Indian technical education is facing a big threat for liberalization as well as global economy. Reviews of India’s college education structure are clouded by endless controversies. The demands to “liberalize” college education have leaned on the need for new investments at a critical juncture of India’s growth. So, the national, International and private investment become the key source of advanced study and newer techniques. As there is limited resource, so the performance evaluation is come into picture and is followed by the ranking among the alternatives. Aiming at this noble target of prioritizing the alternatives, we propose a multiple criteria analysis based performance evaluation model. In this model, six criteria (faculty strength (C1), student Intake (C2), number of Ph.D. awarded (C3), number of patents applied for (C4), the campus areas in acres (C5) and tuition fee per semester in rupees (C6)) and seven IITs have been considered for performance evaluation in this study. They are expressed as A, B, C, D, E, F and G. Weightage value for each criterion is computed by Subjective and Objective Weight Integrated Approach (SOWIA) and ranking is done by Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS) method. Furthermore, correlation between the two methods i.e., fuzzy AHP- COPRAS and our proposed method TOPSIS has been carried out in order to explore interrelationship of the methods used. Keywords: Indian Institute of Technologies, SOWIA, TOPSIS, Ranking, Co-relational and sensitivity analysis.