Laxminarayan Institute of Technology which was founded in 1942 owes its existence to the munificent donation of the Late Rao Bahadur D. Laxminarayan of Kamptee who by sheer hard work and inspite of many difficulties, not only amassed a considerable fortune, but became a prominent figure in the public affairs of the Province. During his life time, it must have occurred to him that the backwardness of the Province was in a large measure due to the lack of higher training and research in Technology. His work brought him into contact with problems which required the aid of Technologists for their solution, and in order that this want should not stand in the way of progress, he bequeathed the main part of his property, then estimated at Rs.35,20,540/- to the Nagpur University by his Will dated the 3rd May 1930, for the purpose of "Teaching of Applied Science and Chemistry". For this a Committee was appointed by Nagpur University on 6th February 1932, known as the "Bequest Scheme Committee", which consisted of eminent men of Science, Industry and Public Affairs drawn from all over India. This committee with Sir M.B. Niyogi, Vice-Chancellor as Chairman recommended to establish an Institute of Technology for teaching Industrial Chemistry with particular emphasis on the application of Science to the industrial development of the province, then known as Central Provinces and Berar. 

In the year 1934, the scheme was prepared for starting a two years' B.Sc. (Tech) course. The present site of 78.04 acres for the Institute was selected in the year 1936 by Late Sir Harisingh Gour who had a vision which anticipated the future requirement of a developing Institution. In the year 1937, the University appointed Dr. R.S. Thakur as Officer-on-Special Duty to look after the work of Building, Equipments, etc. for the Laxminarayan Institute of Technology.

The Institute started functioning with seven admissions for a two-year B.Sc. (Tech) course with Chemical Engineering, Chemical Technology and Oil Technology as subjects on 1st August 1942 with Dr. S.A. Saletore, Professor of Organic Chemistry (Applied) as Director-in-Charge. It was officially inaugurated during the regime of Dr. T. J. Kedar, Vice-Chancellor, on 9th January 1943, by the Hon'ble Shri. N.R. Sirkar, Commerce Member, GOI.

The development during 1942 to 1947 was not very note worthy because of the World War. However, the student population increased to 34 and 11 members of the staff were appointed.

The year 1945 marks the beginning of new phase in the growth of the Institute. In order to accelerate the development of the Institute the Executive Committee of the Nagpur University at its meeting held on the 28th July 1945, appointed Dr. R. B. Forster, then Head of the Department of Chemical Technology of the University of Bombay as Director of the Institute. Dr. Ing. H. G. Kayser took over as the Director in 1950. From the experience gained during the years, the courses of studies have been revised to provide for more intensive specializations.

In 1951, Dr. P. S. Mene took over as Director-in-Charge of the Institute. The number of admission increased to 36 and the four year degree course was started in 1952.

In the year 1959, the Ministry of Education recommended a recurring grant for the building and equipments. The AICTE decided to increase the intake of engineering graduates in all the institutions and recommended that the Laxminarayan Institute of Technology should admit 60 students instead of 36 and should start a 5 Year Integrated Course in Chemical Engineering. The UGC gave an additional grant for starting a three years' B.Sc. (Tech) course in Oil Technology in the year 1964. The Institute started the Five Year Integrated Course with intake of 60 students in the year 1967. During these years, the post-graduate degrees of Nagpur University in the field of Technology were awarded on the basis of a research thesis. The M.Tech. course, partly by papers and partly by research started in 1967 got a greater response in the year 1969. These courses are Petro-Chemical Technology, Oil Technology, Paint Technology and Chemical Engineering.

In the year 1971 two courses in the specialized fields of Food Technology and Petro-Chemical Technology of three years duration started functioning. The admission of 10 students in each branch was approved. M.Tech. (Food Technology) was also started in the same year. In the year 1976 B.Sc. Tech. course in the field of Cellulose Technology was introduced with intake capacity of 10 students.

Responding to the new educational pattern of 10+2, the Institute introduced Four Year B.Tech. (Chemical Engineering) course and first batch of students were admitted in 1977. In the year 1994 the Institute discontinued its B.Sc.Tech. course & in its place introduced a new B.Tech. course in Chemical Technology with specialization in Petrochemical Technology, Food Technology, Pulp & Paper Technology, Oil Technology and Plastic & Polymer Technology. The intake capacity for each of these specialized branches is 10 and admission are given after 10+2 pattern. Presently Institute offers Four Year B.Tech. (Chemical Engineering) programme with intake capacity of 74. Four Year B.Tech. programme in Chemical Technology with specialization branches i.e. Petrochemical Technology, Food Technology, Pulp & Paper Technology, Oil Technology, Plastic & Polymer Technology and Surface Coating Technology with intake capacity of 10 students in each of the branches.