IIT-B and Red Hat India is offering The Open Source challenge scholarship for students. Most of students in my university write projects using Java, Oracle or Microsoft development (C/C++ or .NET) tools.
There is no dearth of IT talent in India, but for a country that churns out thousands of IT students every year, the number of Indian contributors in the open source software (OSS) world is disproportionately low, due in part to a lack of proper mentoring. This is 100% true and to encourage more students to go into OSS development, the Kanwal Rekhi School of Information Technology (KReSIT) at the Indian Institute of Technology Bombay partners with Red Hat for an open source scholarship challenge each year
There an email interview with Venkatesh Hariharan, head of Open Source Affairs at Red Hat India and coordinator of the challenge, provides details about the event.