Vision

To be a leading global technology university that provides a transformative education to create leaders and innovators, and generates new knowledge for society and industry.

Mission

• To create an ambience in which new ideas, research and scholarship flourish, and from which the leaders and innovators of tomorrow emerge.
• To address problems faced by the nation and the world through the talent we nurture and the research we do.
• To provide an education that transforms students through rigorous coursework and by providing an understanding of the needs of society and industry.
• To collaborate with other academic and research institutes around the world to strengthen the education and research ecosystem.

Core Values

The core values adopted by the Institute as enduring principles are Integrity, Excellence, Accountability, Transparency, and Empathy. 

• Integrity: Research and teaching shall be carried out in an environment of academic freedom and honesty. The Institute will adhere to the highest standards of ethics in all its activities.
• Excellence: The Institute is committed to excellence in all spheres of its activities,  and through internal and external reviews, will work towards continuous improvement. The Institute will recognise exceptional efforts through awards and honours.
• Accountability: IIT Bombay, an Institute of National Importance established by an Act of Parliament, has been a recipient of public funds and recognizes that it is accountable to the people of India (through the IIT Council and Board of Governors of IIT Bombay) and to all its immediate stakeholders including students, staff, faculty, alumni and industry. 
• Transparency: The Institute will function according to defined procedures and rules, which will be informed to all stakeholders. The Institute will make public all important information related to its functioning.
• Empathy: An awareness of the conditions of the weaker sections of our society and contributions towards solution of their problems will form an integral part of the research and education programmes of the Institute.

Goals

1. Enhance engagement with society and industry    
2. Broaden educational areas                                  
3. Improve internal support systems                        
4. Enhance student experience                                
5. Broaden funding base                                        
6. Attract international students and faculty                              
7. Advance frontiers of knowledge                        
8. Enhance diversity
9. Enhance alumni engagement 
10. Develop a cleaner and greener campus

(Revised Vision, Mission and Goals dated 29 December 2017) 

Read more: http://www.iitb.ac.in/en/about-iit-bombay/iit-bombay-strategic-plan-2017-22